disclosure or introducing a derivatives market may backfire, aggravating fragility (in particular when the asset side of a … financial intermediary is opaque). It is found that the regulator should set together disclosure and prudential policy. The …

We consider the strategic timing of information releases in a dynamic disclosure model. Because investors don’t know …

discourage discretionary disclosure. On the other hand, by opening up foreign markets and enhancing firms’ growth opportunities …

This paper models the effect of disclosure on real investment. We show that, even if the act of disclosure is costless …, a high-disclosure policy can be costly. Some information ("soft") cannot be disclosed. Increased disclosure of "hard … soft information, increased disclosure induces the manager to improve hard information at the expense of soft, e.g. by …

class of "natural" solutions) according to the likelihood of disclosure that they induce. This ordering identifies the best … choose the timing of disclosure. …

state of the economy (or the industry) affects this decision. We develop a dynamic model of strategic disclosure in which a …