Voluntary disclosure of bad news

被引:20
|
作者
Suijs, J [1 ]
机构
[1] Tilburg Univ, Dept Accounting & Accountancy, NL-5000 LE Tilburg, Netherlands
关键词
voluntary disclosure; bad news; disclosure cost; proprietary cost;
D O I
10.1111/j.0306-686X.2005.00634.x
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This paper shows that in a voluntary disclosure environment entailing both a fixed disclosure cost and a variable proprietary cost, partial disclosure equilibria may arise in which firms voluntarily disclose bad private information to the public. Furthermore, it is shown that such equilibria may arise more frequently as the threat of incuring proprietary cost increases and/or the proprietary cost itself increases.
引用
收藏
页码:1423 / 1435
页数:13
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