Disclosure by firms would seem to reduce the informational asymmetry that causes investment inefficiency in firms. However, the effect of disclosure is subtle, especially when the link between disclosure and firm value is endogenous and depends on incentives within the firm. We analyze various disclosure regimes and determine which ones are effective in a model with optimal renegotiationproof c...

In this paper, we define several disclosure risk measures for microdata. We will analyze disclosure risk based on the disclosure control techniques applied to initial microdata. Disclosure Control is the discipline concerned with the modification of data containing confidential information about individual entities, such as persons, households, businesses, etc. in order to prevent third parties...

Consumers may infer a policy maker’s private information about relevant economic variables from its policy choice. I study this inference effect and its policy implications in the context of mandatory product content disclosure. I find that mandatory disclosure does not always benefit consumers. For example, by observing the government’s requirement to label genetically modified organisms (GMOs...

We present a model in which an entrepreneur who needs to raise funds in order to finance a project chooses what level of disclosure his firm will abide to. The disclosure level is assumed to make a proportion of the cash flows verifiable and hence functions as a mechanism for the entrepreneur to credibly commit not to expropriate investors. The model predicts that less than complete disclosure ...

Based on the literature about self-disclosure, it was hypothesized that different groups of subjects differ in their pattern of self-disclosure with respect to different areas of social interaction. An extended latent-trait latent-class model was proposed to describe these general patterns of self-disclosure. The model was used to analyze the data of 1,113 subjects, tested on extraversion and w...

The presentation of corporate disclosure may be explained by impression management. Previous studies find the existence of impression management in the corporate information disclosure including the financial information disclosure and the non-financial information disclosure. This paper is going to make a complete literature review on these studies related to impression management.

This paper sketches a hard real-time programming language featuring operators for expressing timeliness requirements in an abstract, implementation-independent way and presents parts of the design and veriication of a provably correct code generator for that language. The notion of implementation correctness used as an implicit speciication of the code generator pays attention to timeliness req...

The US Security and Exchange Commission implemented Regulation Fair Disclosure in 2000, requiring that an issuer must make relevant information disclosed to any investor available to the general public in a fair manner. Focusing on firms that are affected by the regulation, we propose a model that characterizes the behavior of two types of investors—one professional investor and many small inve...

OBJECTIVE To examine the association between accreditation scores and the disclosure of accreditation reports. DESIGN A cross sectional study. SETTING Hospitals participating in an accreditation programme in Japan. PARTICIPANTS 547 of the 817 hospitals accredited by the Japan Council for Quality Health Care (JCQHC) by January 2003. MAIN OUTCOME MEASURES Data on participation in public d...

Objective: By the full adoption of IFRS, measurement and disclosure of fair values become more common in Iranian financial reporting. The present study aims to identify the technical challenges of fair value measurement and disclosure in accordance with the proposed framework in IFRS13 as well as technical factors underlying resistance to fair-value based financial reporting from accounting and...