This study examines the credibility of corporate social responsibility (CSR) reports and the role of external assurance on CSR reports. Based on a sample of listed firms in Taiwan, we find that the issuance of CSR reports is not associated with a lower incidence, or frequency, of future...

Mutual funds’ switches to monthly holding disclosures reduce the efficiency of corporate investments. Consistent with a crowding-out mechanism, the evidence suggests that monthly portfolio disclosures discourage information production activities by other market participants and, consequently,...

We examine the impact of regulatory scrutiny on mutual fund disclosures. Based on a sample of 16,161 comment letter conversations between the Securities and Exchange Commission’s Division of Investment Management and mutual funds from 2004 to 2019, we find that: (i) while comment letters...