We employ a quasi-natural experiment to examine the effect of investor inattention on firms' voluntary disclosure. While prior research focuses on when managers make mandatory disclosures within a given quarter, we examine whether investor inattention influences what managers voluntarily...

We study a dynamic voluntary disclosure setting where the manager's information and the firm's value evolve over time. The manager is not limited in her disclosure opportunities but disclosure is costly. The results show that the manager discloses even if this leads to a price decrease in the...