Conservatism, Disclosure and the Cost of Equity Capital
نویسندگان
چکیده
منابع مشابه
Regulation Fair Disclosure and the Cost of Equity Capital
Regulation Fair Disclosure (Reg FD) prohibits selective disclosure of material information to a subset of market participants such as analysts and institutional investors without simultaneously disclosing the same information to the investing public. We examine the effect of Reg FD on the cost of equity capital. If Reg FD curtails selective disclosure without a significant adverse effect on the...
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This paper studies the joint effect of conservatism and aggregation on the cost of equity capital and the efficiency of debt contracts. In the model, a firm’s two assets are valued at either the lower-of-cost-or-market or fair value and the accounting report aggregates the value of the two assets. While the process of aggregation leads inevitably to a loss of information, what information is lo...
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This study examines the contracting benefits of accounting conservatism on international debt and equity markets. Results show that firms domiciled in countries with more conservative financial reporting systems have significantly lower cost of debt and equity capital, after controlling for differences in legal institutions and securities regulations. I use one-year-ahead interest rate to measu...
متن کاملThe Role of Managers Ownership in the Relationship between the Disclosure of Corporate Ethical & Social Responsibility & Cost of Equity
Background: Accurate and timely disclosure of information is one of the most important tools for company managers to reduce the cost of capital. The purpose of this study is to investigate the role of managerschr('39') ownership in the relationship between the disclosure of corporate social and moral responsibility and the cost of equity in companies listed on the Tehran stock exchange. Method...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1673516