Liu, Lingbing; Geng, Huixin; Wang, Yutong - In: China journal of accounting research : CJAR 18 (2025) 1, pp. 1-29
This study investigates whether and how managers respond to major negative news by increasing the information content of their MD&A disclosures. We predict that major negative news influences managers' disclosure decisions by increasing legitimacy pressures and reducing opportunities to obscure...