We analyze how voluntary disclosure of information by bidders affects the outcome optimally designed auctions. In a single-object auction environment, we assume that before revenue-maximizing auctioneer designs auction, noncooperatively choose signal structures disclose about their valuations. show an equilibrium exists in this two-stage game and every object is sold with probability one. Our m...

This paper aims to research the topics related risk included in non-financial disclosure (NFD) of companies listed on Warsaw Stock Exchange (WSE) and explore factors that influence ratio NFD. We applied a content analysis using topic modeling discover latent Next, with Ward’s clustering, we identified four groups homogenous mixture. For causal analysis, explain differences ratio, used qualitati...

The aim of the present research is to determine the effects of financial information transparency and composition of board of directors on forecast accuracy of corporate earnings in companies. A corporation's key for success is hidden in its optimal direction. So it can be claimed that the secret of the eternal reputation of popular corporations lies in their efficient board of directors. One o...