Insider Horizon and Disclosure Policies
نویسندگان
چکیده
ABSTRACT We investigate the relationship between insider horizon and disclosure policy. First, we develop analyze a rational expectations model assuming insiders are able to commit Insiders with short prefer more willing bear costs of reduce information asymmetries among capital market participants. then empirically test our predictions in setting newly public firms where CEO is approaching retirement. find that have shorter disclose experience lower asymmetry. Our study contributes understanding firms’ choices by suggesting shapes firm’s JEL Classifications: G14; G32; D83.
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ژورنال
عنوان ژورنال: The Accounting Review
سال: 2023
ISSN: ['1558-7967', '0001-4826']
DOI: https://doi.org/10.2308/tar-2019-0391