This dissertation comprises three distinct chapters. The third chapter examines the capital market effects of standardized voluntary disclosure of industry-specific information in an ex-ante strong information environment, which is the European real estate sector. We compute three proxies...

This dissertation comprises three distinct chapters. The second chapter examines the return relevance, value relevance, and risk relevance of OCR gains and losses on FVOL. Using a global sample of IFRS banks from 2006 to 2015, we find that recognized OCR gains and losses are negatively related...

In 2014, the European Union (EU) passed a corporate social responsibility (CSR) directive that mandates large listed firms to prepare non-financial reports beginning from fiscal year 2017 onward. We examine whether firms within the scope of the directive (hereafter, “treated firms”)...

Using a sample of European banks, this paper examines the link between disclosure and its economic consequences. We exploit an exogenous cost of capital shock created by the Greek Sovereign Debt Crisis and analyze banks' disclosure responses to this shock. First, we find that European banks...

Exploiting detailed disclosures mandated by Accounting Standard Codification (ASC) 820, we provide evidence for the return relevance of Level 3 fair value remeasurements for a comprehensive sample of U.S. listed banks. We find that Level 3 remeasurements recognized in earnings are more return...