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 …

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 explores the links between firms' voluntary disclosures and their cost of capital.
Existing studies investigate the relation between mandatory disclosures and cost of capital …

This study examines the association between disclosure policy and investment due to a
regulatory change—Regulation Fair Disclosure (Reg FD)—that pinpoints when firms change …

Whether firms receive cost of capital benefits from greater disclosure is an important and
controversial question. This paper reviews the relevant academic research that can provide …

Theoretically, companies disclosing more voluntary information will benefit from a lower cost
of capital, although empirical research provides inconclusive results. Our study aims to …

Absent sufficient enforcement, disclosure regulations are often seen as inconsequential.
However, enforcement could have unintended effects on firms' incentives to disclose …

We examine the association between a firm's cost of capital and its voluntary and mandatory
disclosures. We include two types of mandatory disclosure: those that are a function of …

Purpose In the presence of “real effects” of disclosure in a production economy, this
research aims to investigate the link between disclosure and cost of capital relating to …