haku: @indexterm capital markets / yhteensä: 931
viite: 395 / 931
| Tekijä: | Lewellen, W. G. Park, T. Ro, B. T. |
| Otsikko: | Self-serving behavior in managers' discretionary information disclosure decisions |
| Lehti: | Journal of Accounting & Economics
1996 : APR, VOL. 21:2, p. 227-251 |
| Asiasana: | CAPITAL MARKETS INFLATION DISCLOSURE |
| Kieli: | eng |
| Tiivistelmä: | Research has shown that managers display self-service behavior in a variety of discretionary information production decisions. We test whether such behavior is also manifest in discretionary information disclosure decisions - in particular, in the common stock return performance comparisons now required in corporate proxy statements. We find evidence that the industry and peer-company stock return benchmarks, and broader market indices, chosen by management for those comparisons are downward biased, thereby overstating relative reporting-firm attributes, including performance and the character of firm ownership structure. |
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