Despite a substantial literature linking industry concentration, proprietary costs and
disclosure, existing evidence is mixed. We discuss three challenges to the literature: lack of …

This study examines the association between US Census industry concentration measures
and the informativeness of corporate disclosure policy. We find that in more concentrated …

This paper reviews the market reaction to bank rescue packages announced in six countries
between October 2008 and January 2009. The study distinguishes the impact on creditors …

Research summary: Managers can disclose information to security analysts as a form of
impression management, but doing so is problematic because competitors can use that …

We examine whether corporate social responsibility (CSR) creates value for seasoned
equity issuers. Using a sample of seasoned equity offerings (SEOs) by US companies …

Abstract Since 2001, the China Securities Regulatory Commission has implemented a
series of policies to ensure that dividend payments constitute a prerequisite of equity …

We investigate the relation between seasoned equity issuers' stated intended use of
proceeds and their subsequent long-run stock and operating performance. Stated intended …

This study examines whether information about a firm's engagement in environmental,
social, and governance (ESG) practices is material to market participants. Evidence from a …

We report reduced market response to Friday announcements of dividend changes,
seasoned equity offerings, share repurchases, earnings, and mergers, which is seemingly …

We hand collected data from the IPO prospectus on the primary use of proceeds of IPO firms
and examine whether it contains useful information about the firm's future performance and …