search query: @author Tzur, J. / total: 2
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| Author: | Tzur, J. Yaari, V. (L.) |
| Title: | Microstructure of firmsÂ’ disclosure |
| Journal: | Review of Quantitative Finance and Accounting
1999 : DEC, VOL. 13:4, p. 367-391 |
| Index terms: | Disclosure Companies Models |
| Freeterms: | Signaling |
| Language: | eng |
| Abstract: | Due to imperfections in auditing technology, firms can successfully misrepresent financial reports. In this study, there is a new mechanism offered, i.e. a "sunshine rule", by which firms are required to publicize a management draft prior to the audited reports. In case the final reports and management's drafts differ from each other, the market penalizes both the firm and the manager. |
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