This article offers a structural reappraisal of central bank Monetary Policy Transparency (MPT) by explicitly incorporating two dimensions that have long remained peripheral in the literature: Accounting Information Transparency (AIT) and Financial Stability Transparency (FST). Building on a...

This study examines the determinants of equity crowdfunding (ECF) campaign success in Malaysia through the lens of quality signaling theory and behavioral herding dynamics. Using a manually collected dataset of 335 completed campaigns launched on pitchIN, MyStartr, and AtaPlus between 2016 and...

This study investigates whether Corporate Social Responsibility Disclosure (CSRD) serves as a risk-mitigating or cost-inducing signal for firms' market value in an emerging market. Utilising a panel dataset of 120 companies listed on the Tehran Stock Exchange (2015-2023) and employing content...

We study how sustainability disclosure regulation affects mutual fund flows and portfolio choices, accounting for investor heterogeneity. Guided by a model of ESG investing under uncertainty, we exploit the introduction of the European Sustainable Finance Disclosure Regulation (SFDR) as a...

This policy paper examines the effects of the introduction of the MiFID II / MiFIR framework on the transparency regime for sovereign bonds. The main purpose of the framework is to provide markets with real-time information and lower market asymmetries, thereby increasing liquidity in the...

This study examines the unintended consequences of quality disclosures, focusing on how Academy Award nominations impact consumer satisfaction in the movie industry. Awards and certifications typically signal high quality and increase consumer expectations. Yet, if the experience falls short of...

This research evaluates the extent to which firms' "green" bond disclosures create and convey a meaningful representation of their Environmental, Social, and Governance ("ESG") commitments. Additionally, this research explores how investors distinguish between disclosures that represent genuine...

This paper examines how an often-overlooked source of pay transparency-the public disclosure of tax information-affects gender wage gaps. We exploit a 2001 change in Norway that made individual tax returns searchable online. Using matched employer-employee data and a differencein-differences...

We study how mandatory climate-related disclosure affects bank lending using the phased introduction of the EU Taxonomy Regulation. Exploiting the staggered development and implementation of the regulation, we distinguish banks’ responses to anticipated disclosure requirements from their...

With growing consumer concerns about the environmental and social impacts of their purchases, some multinational corporations (MNCs) have begun publishing lists of their first-tier and other upstream suppliers with varying levels of detail and analysis in Corporate Social Responsibility (CSR)...

Drawing on agency theory, this study explores how the geographical distribution of institutional shareholders affects corporate ESG rating disagreements. A higher geographical concentration of institutional shareholders is found to correlate with reduced ESG rating disagreements, as...

This paper examines the impact of firms' voluntary ESG disclosures on social media on ESG rating divergence using data from China's Sina Weibo. The results show that social media disclosure of ESG information alleviates ESG rating divergence, supporting the information effect hypothesis rather...

Fund cliques (i.e., mutual funds holding the same stocks) are a common feature of global financial markets, raising the question: How do fund cliques shape firms' information environment? Do they improve information efficiency or amplify noise trading? Using a sample of Chinese A-share listed...

The increasing recognition of biodiversity loss as a critical environmental and financial risk has heightened calls for greater emphasis on corporate information disclosures. However, limited understanding remains as to how corporate biodiversity information disclosure affects institutional...

This study aims to analyze the impact of environmental, social, and governance (ESG) disclosure quality on banking risk. Data were collected from the 100 largest commercial banks in the Middle East and Africa over ten years and examined using econometric analysis to measure the influence of ESG...

This research examines Jordanian risk disclosure policies and how board size, meeting frequency, CEO duality, and board expertise affect them, exploring how political ties moderate the link between board features and risk disclosure. In 2014-2023, the research examined 90 non-financial...

The circular economy (CE) is increasingly recognized as a financially material dimension of corporate sustainability, complementing and in some respects surpassing traditional Environmental, Social, and Governance (ESG) metrics. Building on prior evidence of a negative relationship between...

ESG criteria have become central to corporate sustainability, reshaping governance, reporting, and the accounting profession. This study investigates how chartered accountants engage with ESG by combining micro-level survey evidence from Greece with macro-level bibliometric analysis of global...

This study examines how geographic distance to Vietnam's centralized securities regulator-the State Securities Commission (SSC)-influences firm-level stock price crash risk. In emerging markets characterized by weak governance, corruption, and political connections, distance can erode monitoring...

We study the effects of bank transparency on both banks' asset and liquidity risks, and ultimately, on banking sector stability and welfare. We show how enhanced bank transparency increases banks' vulnerability to excessive deposit outflows, but this threat of a liquidity crisis incentivizes...