We exploit a novel feature of management cash flow forecasts (MCFFs) to investigate how managers' discretion over forecast precision, clarity, and verifiability affects the bias, quality, and stock price effects of such forecasts. Many MCFFs are issued with an equivocal definition of the cash...

A number of theoretical studies predict an unconditional negative association between firm risk premium and firm disclosure, where additional disclosure reduces estimation risk or information asymmetry. Empirical studies based on these models frequently report mixed results. Dutta and Nezlobin...

This study examines the relationship between the quality of a firm's voluntary environmental disclosures and firm value by exploring the relationship between the components of firm value (expected future cash flows and cost of equity) and voluntary environmental disclosure quality. We measure...