Extant theory claims a firm's information environment impacts the choice between debt and
equity financing. However, empirical evidence supporting this contention is limited. We …

Abstract This study uses Regulation Fair Disclosure (FD) as a plausibly exogenous shock to
the information environment to identify the causal effect of information asymmetry on …

Prior research predicts that firms reliant on external financing are more likely to undertake a
higher level of disclosure, and a higher disclosure level should, in turn, lead to a lower cost …

This paper examines the relation between a firm's disclosure policy and its debt placement
decision. In particular, we examine whether low-disclosure firms exhibit a greater propensity …

This paper examines the implications of costly public disclosure within the context of a firm's
financing choice between private and public debt. Because private debt avoids costly public …

This paper examines the effects of mandatory disclosure systems on firms' financial
constraints and investment policies. I study a regulatory reform that eliminated the special …

The purpose of the present study is to inquire (1) whether transparency in information
disclosure would create an impact on the interest cost of debt, and (2) whether corporate …

This paper considers the impact of Regulation Fair Disclosure (FD) on firms' information
environments and costs of capital. For NYSE/Amex firms we find little evidence of a change …

This paper shows that mandating some firms to disclose more while leaving other firms
disclosing voluntarily is less effective in improving and may even harm the overall …

The purpose of this paper is twofold. First, we provide a discussion of the problems
associated with endogeneity in empirical accounting research. We emphasize problems …