Extensive evidence suggests that managers strategically choose the complexity of their
descriptive disclosures. However, their motives in doing so appear mixed, as complex …

We provide evidence that dividends signal sustainable earnings generated by assets-in-
place for firms with weak investment opportunities. In the cross-section, both dividend levels …

ABSTRACT A firm manager is concerned about both the firm value and the market
assessments of his abilities. When investing in a project, he has private knowledge of his …

This study investigates the real effects of management communication, specifically of
forecasts or earnings guidance, on investment. Managers can signal the strength of their …

<? show [AQ ID= GQ2 POS=-24pt]?><? show [AQ ID= GQ5 POS= 12pt]?> This paper
investigates the interaction between cheap-talk advertising and credible third-party product …

Management earnings forecasts (MEF), a form of voluntary disclosure, are different from
most other disclosures because MEF have spillover effects on managers' subsequent …

This paper presents a costly voluntary disclosure model in which the information quality of a
signal about a firm's future cash flow is unknown, where the information quality, also called …

For autonomous vehicles (AVs) to be widely commercialized, they must operate safely.
Testing AVs on public roads helps improve their future safety, as it enables AV firms to …

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

This study examines a reputation-concerned entrepreneur's incentives to provide
disaggregated information about a project's future performance when the entrepreneur …