Voluntary disclosure with evolving news

No news is good news: voluntary disclosure in the face of litigation

We study disclosure dynamics when the firm value evolves stochastically over time. The presence of litigation risk, arising from the failure to disclose unfavorable information, crowds out positive disclosures. Litigation risk mitigates firms’ tendency to use inefficient disclosure policies. From a policy perspective, we show that a stricter legal environment may be an efficient way to stimulat...

VOLUNTARY ASSURANCE OF VOLUNTARY DISCLOSURE∗ by

Debt and Voluntary Disclosure

In attempting to understand voluntary corporate disclosure, many empirical studies have used leverage as an explanatory variable. One reason for an association between debt and disclosure relates to the agency costs of the shareholder-bondholder conflict. By voluntarily disclosing information, shareholders may be able to reduce this agency cost. We provide an additional reason why debt and disc...

Some Factors that Influence the Quality of Voluntary Disclosure

The purpose of this study is to investigate the factors affecting the evaluation of the quality of voluntary disclosure, given that the factors used in internal research due to having an external source and focusing on the number of disclosures may not be an appropriate criterion for measuring the quality of information disclosure, so, it is necessary to provide new influencing factors on the e...

News of the Voluntary Associations

The Occupation Centre has benefited greatly by the help of the Darlington Training College for teachers. Students come once a week, primarily to help with games, etc., and their service is much appreciated. Close co-operation has also been maintained with Toe. H and its League of Women Helpers, in the running of two Clubs, one for M.D. boys, the other for M.D. girls. It is reported that the Sec...