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Let's talk strategy : the impact of voluntary strategy disclosure on the cost of equity capital

Sieber, Tom; Weißenberger, Barbara E.; Oberdörster, … - In: Business research 7 (2014) 2, pp. 263-312

This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital …. Such an impact is not obvious, as investors might consider strategy information as “cheap talk” and therefore ignore it. We … analyze a sample of 100 German listed firms from 2002 to 2008, measuring strategy disclosure levels using hand …

Persistent link: https://www.econbiz.de/10010414246

ESG ratings of ESG index providers

Agrawal, Sonakshi; Liu, Lisa Yao; Rajgopal, Shivaram; … - 2025

We explore the role of ESG raters' business models in the production of their ratings, noting that increasingly ESG raters not only produce ESG ratings but also construct and sell index products based on their ESG ratings. We examine whether deriving revenue from ESG rating-based indices is...

Persistent link: https://www.econbiz.de/10015443995

Unravelling the complex link between managers' disclosure of abnormal tone and opportunistic behaviour

Pouryousof, Azam; Nassirzadeh, Farzaneh; Askarany, Davood - In: European research on management and business economics 31 (2025) 2, pp. 1-9

This study investigates the relationship between managers' abnormal disclosure tone and opportunistic behaviour in managerial accounting, grounded in agency theory. Using a quantitative ex-post-facto design, we analysed data from 1411 annual reports of 143 companies listed on the Tehran Stock...

Persistent link: https://www.econbiz.de/10015410592

Unraveling the determinants and consequences of mandatory IFRS convergence in India : insights from systematic literature review

M. N., Nikhil; Shenoy, Sandeep S.; Chakraborty, Suman; … - In: Cogent business & management 11 (2024) 1, pp. 1-23

The last few decades have evidenced radical changes in global standards, particularly the International Financial Reporting Standards convergence in India has piqued the curiosity of researchers and professionals. Despite the evolving research, there is no consensus on its consequences in the...

Persistent link: https://www.econbiz.de/10015448883

Optimizing performance through sustainability : the mediating influence of firm liquidity on ESG efficacy in African enterprises

Dsouza, Suzan; Momin, Mujtaba; Habibniya, Houshang; … - In: Cogent business & management 11 (2024) 1, pp. 1-21

This study employs a linear regression model to investigate the relationship between ESG performance, liquidity, and firm performance of African-listed firms covering a period from 2013 to 2022. The results indicate that liquidity is a significant mediating factor influencing the association...

Persistent link: https://www.econbiz.de/10015449129

Do ESG Disclosures Influence Foreign Investors’ Participation and Ownership? A Comparison between Developing and Developed Markets

Temiz, Huseyin; Boumparis, Periklis; Florackis, Chris - 2023

This study examines the impact of environmental, social, and governance (ESG) disclosure on the level of firms’ foreign ownership, and whether and how this effect differs between developed and developing countries. The results from a large sample of firms from 43 countries support the view...

Persistent link: https://www.econbiz.de/10014355862

Is Silence Really Golden? Examining Investor Responses when Auditors Disclose Their Involvement with Other Information in the Annual Report

Graschitz, Sabine; Hamilton, Erin; Messier, Jr., William F. - 2023

Regulators have expressed concerns that investors misunderstand auditors’ responsibility to “read and consider” other information in the annual report (e.g., the MD&A), often assuming the entire annual report has been audited. This is particularly a concern in the U.S. where auditors do...

Persistent link: https://www.econbiz.de/10014356230

Using Unstructured and Qualitative Disclosures to Explain Accruals

Frankel, Richard M. - 2015

We use MD&A disclosures to predict current-year firm-level accruals using support-vector regressions. We call these predictions big-data accruals. Our aim is to measure the explanatory power of MD&A disclosures for liquidity and critical accounting choices. We find that big-data accruals explain...

Persistent link: https://www.econbiz.de/10013028335

The Disclosure of Synergy Value in Mergers and Acquisitions

Fiorentino, Raffaele - 2014

Prior studies found that synergy is one of the most important motives of M&As. However, studies generally overlooked the investigation of the use and reporting of synergy value. The purpose of this study is to assess the disclosure practices and to analyse different factors behind the disclosure...

Persistent link: https://www.econbiz.de/10013064920

Fixing the Proprietary Cost Assumption in Discretionary Disclosure Models

Friedman, Henry L. - 2023

I present a critique on the common assumption of fixed proprietary costs of disclosure used in discretionary disclosure models. I show that proprietary costs that are fixed, i.e., independent of the disclosed information, are inherently contradictory. To sustain independence requires either that...

Persistent link: https://www.econbiz.de/10014353028