This paper examines how public disclosure affects private information acquisition activity in a market economy. We analyze a setting where traders with short-term investment horizons are allowed to trade on their private information prior to a public disclosure. We demonstrate in this setting that public disclosure stimulates investment in private information acquisition. This result is shown t...

This paper studies disclosure dynamics and its implications for stock returns. Because disclosure is costly, the firm may withhold information for some time even when information is favorable. In equilibrium, the firm adopts a regular time-pattern of disclosure. Breaking this regularity, by failing to issue a disclosure when expected, leads to a sharp drop in the stock price and to a period of ...

We study how firms’ disclosure decisions are related to their existing financing and production policies. We develop a rational expectations model in which a firm trades off the benefits of more precise disclosure in reducing its cost of capital against the costs of more precise disclosure in potentially revealing confidential information to competitors. Using abnormal return variance and tradi...

With the nearly instantaneous spread of information in modern society, policies regarding the disclosure of information about security vulnerabilities have become the focus of significant discussion. The fundamental debate centers on tradeoffs inherent in disclosing information that security professionals need, but that can also be used for nefarious purposes. Our empirical study compares attac...

Competition creates strategic incentives for firms to communicate private information about product quality through signalling rather than voluntary disclosure. In a duopoly where firms may disclose quality before setting prices and prices may signal quality, non-disclosure by all firms may often be the unique symmetric outcome even if disclosure cost vanishes. A high-quality firm may not discl...

Background Revealing an error to a patient is an important ethical consideration. The present study was designed to explore nurses’ perceived concerns regarding error disclosure. Method Information obtained from 80 experienced nurses regarding their error disclosure using focused group discussion method. Data were then analyzed using inductive content analysis method. Results patient’s reaction...

literature on self-disclosure and the Internet, in particular by focusing on disclosure in computer-mediated communication (CMC) and web-based forms – both to surveys and in e-commerce applications. We also consider the links between privacy and self-disclosure, and the unique challenges (and opportunities) that the Internet poses for the protection of privacy. Finally, we propose three critica...

Professionals often face conflicts of interest that give them an incentive to provide biased advice, and disclosure (informing advisees about the conflict) is frequently proposed as a solution to the problem. We present 6 experiments that reveal a previously unrecognized perverse effect of disclosure: Although disclosure can decrease advisees' trust in the advice, it can also increase pressure ...

The present study examined the association between self-disclosure and intimacy in the context of Facebook. As the antecedents of self-disclosure, the study included the need for affiliation and the motivations for relationship maintenance and initiation. Using data from an online survey (N = 249), structural equation modeling analyses revealed that self-disclosure amount and positivity were po...