We study how institutional blockholdings affect firm voluntary disclosure. document that concentrated ownership reduces firms’ disclosure measured by the propensity to issue management forecasts, comprehensiveness of guidance, engage in conference calls, and number 8-K filings. identify two channels through which blockholders First, have easier access managers substitute private for public info...

Whether the disclosure of genetic (and non-genetic) information should be mandatory or voluntary is of concern. At present there are two opposing camps--the insurance industry argues for mandatory disclosure to avoid problems of adverse selection, and genetic interest groups argue for voluntary disclosure, fearing discrimination and public reluctance to have tests, thus missing out on any benef...

Abstract Firms have ever-increasing access to consumer data, which they use personalize their advertising and price discriminate. This raises privacy concerns. Policymakers argued in response that consumers should be given control over able choose what share when. Since firms learn about a consumer’s preferences both from do not disclose, the equilibrium implications of are unclear. We study wh...

We study a dynamic voluntary disclosure setting where the manager’s information and firm’s value evolve over time. The manager is not limited in her opportunities, but costly. results show that discloses even if this leads to price decrease current period. absorbs drop order increase option of withholding future. That is, by disclosing today, can improve continuation value. provide number novel...

The economic development as a trigger of mandatory disclosure has no longer provided information needed by stakeholder, especially the primary users including investors and creditors. high demand from stakeholder urges company to reveal their through voluntary disclosure. An inquiry been an interesting discussion extensively studied in Indonesia well rest world. It is obvious because subject so...

A conventional wisdom in economics posits that more intense market competition, measured in almost any way, reduces firm profit. In this paper, we challenge this conventional wisdom in a simple Cournot model with strategic R&D investments wherein an efficient firm (dominant firm) competes against less efficient firms (fringe firms). We find that an increase in the number of fringe firms can sti...

This paper analyzes the impact of different disclosure regimes on corporate decisionmaking during initial public offering. Specifically, it examines how disclosure rules affect firms’ incentives to acquire forward-looking information, their disclosure practices and investment strategies. The disclosure regimes examined are Non-Disclosure, Voluntary, and Mandatory Disclosure Regimes. The analysi...