This study examines the impact of trust on disclosure transparency in financial reporting of government agencies. Using unique data from Korean central government agencies for the period of 2011-2015, we provide evidence that trust enhances government agencies' financial disclosure transparency....

We employ a sharp regression discontinuity design to identify the causal effects of investor base disclosure on funding success and post-funding outcomes. Starting from February 2016, Kickstarter discloses backer statistics including geographic locations and previous funding experience of the...

We study the market reaction to events leading up to and including the release of the SEC’s Proposed Mandatory Climate Risk Disclosures in firms’ financial statements. Our goal is to evaluate whether investors benefit from this proposal. We find the market, on average, does not react to...

We hypothesize and find that uncontrollable factors disclosure (UFD) in earnings conference calls mitigates investors' cognitive dissonance, defined as the state of mental imbalance that results from conflicting attitudes, beliefs or behaviors (Akerlof and Dickens 1982). That is, investors react...