Subject Matter Complexity and Disclosure Channel Richness

نویسندگان

چکیده

ABSTRACT Despite the increase in and diversity of disclosure channels available, our understanding how managers incorporate channel features into their decisions remains incomplete. I provide evidence that choose relatively rich offer multiple cues, opportunities for interaction, linguistic (i.e., earnings call, as compared to press release) communicate complex information. The positive relation between richness subject matter complexity persists both a document-level analysis small sample test examining choice from all possible channels. some deviating complexity/richness matching strategy is associated with muted market response firms’ quarterly disclosures. results are consistent choosing reduce investors’ information processing costs. Data Availability: available public sources cited text. JEL Classifications: G14; M41.

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ژورنال

عنوان ژورنال: The Accounting Review

سال: 2023

ISSN: ['1558-7967', '0001-4826']

DOI: https://doi.org/10.2308/tar-2021-0337