In this paper, we examine the incentives for firms to voluntarily disclose otherwise private information about quality attributes of differentiated products when those products have multiple attributes and consumers are heterogeneous in their tastes over these attributes. In particular, we focus on whether the so-called “unraveling result”—in equilibrium, firms fully disclose the quality of the...

In their path of searching for additional sources information better-informed decision-making process, market participants are presented with Voluntary disclosures. This paper aims at examining the determinants voluntary disclosures in GCC countries. A cross-sectional multiple regression analysis a sample size 74 listed firms from equity markets shows that leverage and economic sectors dominate...

ECOSEL is a voluntary market framework for private provision of forest ecosystem services. Multiobjective optimization is used in conjunction with a unique funding mechanism to generate and market forest management alternatives that are projected to lead to efficient bundles of ecosystem services on a piece of forestland. ECOSEL allows the public to bid on the competing alternatives. Whichever ...

Takaful also known as Islamic insurance industry has been growing rapidly across the globe. The unique organizational structures of takaful operators, their products’ and participants’ rights have increased demand for transparency put additional pressure to voluntarily disclosed more information. This study focuses on disclosure information from user’s perspective. A checklist was developed rep...

This study examines the link between disclosure, cash flow uncertainty, and the option value of equity. Building upon Merton (1974), I model the equity of a levered firm as a call option whose equilibrium value is increasing in the variance of future cash flows. Modeling levered equity as an option allows for calculation of the firm’s vega, where vega measures the sensitivity of equity value to...

In this paper we provide a model which describes how voluntary disclosure impacts on the timing of a firm’s investment decisions. A manager chooses a time to invest in a project and a time to disclose the investment return in order to maximise his monetary payoff. We assume that this payoff is linked to the level of the firm’s stock price. Prior to investing, the profitability of the project an...

The aim of this study is to examine the extent to which the Jordanian companies listed in Amman Stock Exchange (ASE) use their websites to disclose financial information. Furthermore, this paper examines the relationship between company’s characteristics and financial ratios (Sector, Size, Age, Return on Investment, Debt Ratio, and Market to Book Value Ratio) on one hand and the extent of finan...