This study examines the effects of social capital on firm voluntary disclosure. We find that firms headquartered in the U.S. counties with higher levels of social capital provide more voluntary disclosure than firms in the counties with lower levels of social capital. We further find that this...

The use of observed transaction sizes to differentiate between “small” and “large” investor trading patterns is widespread. A significant concern in such studies is spurious effects attributable to misclassification of transactions, particularly those originating from large investors....

This paper examines the effect of more frequent disclosure on firms' capital structure. We argue that more frequent disclosure enables firms to raise equity at more favorable conditions because shareholders are more willing to invest due to improved transparency and better monitoring of...