منابع مشابه
PRAM and Disclosure Risk
Statistical Disclosure Control is part of the usual process, necessary for the dissemination of microdata. Usually, direct identifiers are removed and variables that can be used to re-identify certain records are recoded or suppressed. For certain surveys these methods are inadequate to produce safe microdatasets with enough detail, to satify both the supplier and the user of these sets. To tha...
متن کاملDisclosure and Rollover Risk
This paper studies whether and to what extent transparent disclosure prevents inefficient liquidation arising from rollover risk. We model an illiquid but solvent borrower who can design a public signal about what creditors can recover from forcing liquidation, and what their claims would be worth if the firm survives. We find that the signal structure that minimizes rollover risk never identif...
متن کاملDisclosure Risk and Price Drift
Disclosures play an apparently critical role in the empirical regularity of the short-run momentum and long-run reversal in stock returns. Motivated by this evidence, this paper integrates an analysis of disclosures within an asset pricing model to arrive at a framework in which disclosures and asset returns are jointly determined. Disclosures resolve uncertainty, but the increased information ...
متن کاملA Theory of Risk Disclosure
In this paper, we consider the pricing effects of noisy risk disclosure. We show that uncertainty over the riskiness of a firm’s cash flows is priced and that risk disclosure decreases the cost of capital in both single and multi-asset settings. We find that mean and risk disclosure are substitutes, and that firms acquire and disclose more risk information when they discover that risks are high...
متن کاملDisclosure Risk Measures for Microdata
In this paper, we define several disclosure risk measures for microdata. We will analyze disclosure risk based on the disclosure control techniques applied to initial microdata. Disclosure Control is the discipline concerned with the modification of data containing confidential information about individual entities, such as persons, households, businesses, etc. in order to prevent third parties...
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ژورنال
عنوان ژورنال: Journal of Accounting and Public Policy
سال: 2020
ISSN: 0278-4254
DOI: 10.1016/j.jaccpubpol.2020.106739