High quality disclosures can promote investor confidence and facilitate capital market development, but evidence on market-level consequences of confidence associated with disclosures is sparse. Using a survey-based measure that directly captures beliefs about disclosure quality in a panel with...

Using a survey-based measure that directly captures beliefs about disclosure quality (SFARS) in a panel with over 1,000 country-year observations, this study examines macro-level capital market consequences of confidence in disclosure quality. Supporting construct validity, SFARS is associated...

We study investors’ demand for climate-related corporate information around a high-level government announcement regarding the transition to a low-carbon economy, using China’s interactive investor platforms, where investors can submit questions directly to firms. Following the announcement...

The London Interbank Offer Rate (LIBOR), based on inputs from banks, is plausibly the most important set of reference interest rates in the world. Following the LIBOR rigging scandal and the post-2008 decline in interbank lending underpinning LIBOR, banks and regulators have agreed to sustain...