haku: @author Suijs, J. / yhteensä: 1
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| Tekijä: | Suijs, J. |
| Otsikko: | Voluntary disclosure of information when firms are uncertain of investor response |
| Lehti: | Journal of Accounting & Economics
2007 : VOL. 43:2-3, p. 391-410 |
| Asiasana: | financial reporting accounting investors information disclosure uncertainty models |
| Kieli: | eng |
| Tiivistelmä: | In case a firm is uncertain of investor response, it may prefer not to disclose its private information (here as: info). In the setting under consideration, a firm needs to acquire capital from an investor. The investor can choose to invest in the firm, the risk free asset or in some alternative risky investment opportunity. It is shown that in a partial disclosure equilibrium, the firm discloses average info., withholding bad and good info. Disclosure of average info. arises to attract the investor's capital away from the risk free asset. |
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