search query: @author Ireland, J. / total: 12
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| Author: | Gietzmann, M. Ireland, J. |
| Title: | Cost of capital, strategic disclosures and accounting choice |
| Journal: | Journal of Business Finance and Accounting
2005 : APR/MAY, VOL 32:3-4, p. 599-634 |
| Index terms: | Accounting Finance Capital costs Disclosure Strategy Models |
| Language: | eng |
| Abstract: | It is suggested by the theory that there is a negative relationship btw. disclosure and the cost of capital. However, in general, this has not been confirmed by empirical research. There are several possible explanations for this puzzle: the theory-driven hypothesis may be false and require re-specification, or there may be correlated omitted variables contaminating the results, or there may be problems with the measurement of disclosure. This study constructs an innovative measure of timely disclosure, controling for a possible omitted variable, namely accounting policy choice. With this revised research design, the expected negative relationship is found. |
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