We examine how directors' reputations are managed through disclosure choices. We focus on disclosures in the director biographies in proxy statements filed with the SEC. We find that a directorship on another board is more likely to be undisclosed when the other firm experienced an adverse event...

We examine how a manager's ethnic cultural background affects their communication with investors. Using a sample of earnings conference call transcripts with 24,901 executives from 42 countries, we find that managers from ethnic groups that have a more individualistic culture use a more...