Explores whether the firm's discretionary narrative disclosures measure its financial risk of bankruptcy. Specifically examines the existence of an association between the content of the chairman's statement and firm failure. Show that these statements are closely associated with financial performance, reinforcing the argument that such unaudited disclosures contain important information. The r...

OBJECTIVE Physician self-disclosure (PSD) has been alternatively described as a boundary violation or a means to foster trust and rapport with patients. We analyzed a series of physician self-disclosure statements to inform the current controversy. DESIGN Qualitative analysis of all PSD statements identified using the Roter Interaction Analysis System (RIAS) during 1,265 audiotaped office vis...

Abstract Nonfinancial disclosures of product and business expansion planning occur frequently in practice are an important vehicle by which managers convey corporate information to outsiders. However, little is known about how the opportunistic incentives affect choice such nonfinancial disclosures. This study examines whether make their strategically for self-serving trading incentives. I find...

BACKGROUND Disclosure of authors' financial interests has been proposed as a strategy for protecting the integrity of the biomedical literature. We examined whether authors' financial interests were disclosed consistently in articles on coronary stents published in 2006. METHODOLOGY/PRINCIPAL FINDINGS We searched PubMed for English-language articles published in 2006 that provided evidence or...

Opinions are deeply divided over whether rewarding physicians for lowering costs decreases trust in physicians or insurers. To explore the effects of disclosing physician payment methods in HMOs, members of two similar HMO plans were randomized to intervention and control groups, and the experimental arm was told how the HMO paid their primary care physician. Separate disclosures were developed...

The first decade of the 21 century has witnessed the rise of Web 2.0 technologies that allow users to create and share content online with friends – and strangers alike. These technologies have generated an ‘enthusiasm for sharing’ as well as privacy concerns that researchers, organizations and policy makers often measure and debate. After introducing the trade-offs of information sharing (Chap...

The information quality of mandatory financial reporting depends on two factors: (1) Are standards appropriate to produce financial statements that provide investors with sufficient information? (2) Is compliance to standards enforced by appropriate institutions? This paper addresses the question if firms should be able to create hidden reserves as an example for the effect of standards on info...

We analyze a model where investors (e.g., hedge funds) need to borrow from lenders with heterogeneous risk-exposures and risk-management motives. Investors may obtain advantageous terms of borrowing by disclosing their investment strategy, thereby revealing its correlation to the lender’s existing risk exposure. Investors risk being ‘‘front-run’’ by their lender if they disclose, however. We sh...

A model of endogenous investment booms and busts with rational agents is presented where outside investors are uncertain about both industry (aggregate) and firm-specific capital productivity, and insiders manipulate information through strategic productivity disclosures. For intermediate and high levels of agency conflict, there are aggregate investment distortions along the equilibrium path, ...

This paper models the arrival rate of voluntary news announcements of the FTSE AllShare firms. We test to see if the earnings environment affects the volume of news announcements that firms release to the stock market. We also examine whether the other factors such as the size of a firm and the external coverage a firm receives affects the pattern of news disclosures. Our results show that firm...