Financial disclosure documents provide investors with product details to facilitate informed investment decisions. We … investigate whether the appearance - the visual frame - of disclosure documents impacts risk and return expectations and … visual frame. Results are in line with the distracted attention mechanism and suggest that disclosure policies should take …

by selective disclosure of facts. As is well known from the literature, competition between the informed parties …

. To assess disclosure behavior, we hand collect data from notes of large German firms' IFRS financial statements and … tax losses has a significantly negative relation to the amount and quality of disclosure, controlling for other disclosure …