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Does Enhanced Disclosure Really Reduce Agency Costs? Evidence from the Diversion of Corporate Resources
16 references·16 citing·36 second hopsampled
Does Enhanced Disclosure Really Reduce Agency Costs? Evidence from the Diversion of Corporate Resources (2011)Does Enhanced Disclosure Really Reduce Ag…Audit committee, board of director characteristics, and earnings management (2002)Audit committee, board of dir…Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Information asymmetry, corpor…Econometric Analysis of Cross Section and Panel Data (2001)Econometric Analysis of Cross…The Economic Consequences of Increased Disclosure (2000)The Economic Consequences of …The determinants and implications of corporate cash holdings (1999)The determinants and implicat…Disclosure level and the cost of equity capital. (1997)Disclosure level and the cost…A Survey of Corporate Governance (1997)A Survey of Corporate Governa…Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures (1993)Cross-Sectional Determinants …Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Disclosure, Liquidity, and the Cost of Capital (1991)Disclosure, Liquidity, and th…Outside directors and CEO turnover (1988)Outside directors and CEO tur…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Credit Rationing in Markets with Imperfect Information (1981)Credit Rationing in Markets w…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Does managerial ability and auditor report readability affect corporate liquidity and cost of debt? (2023)Does managerial ability and a…Board Gender Diversity and Investment Efficiency: Global Evidence from 83 Country-Level Interventions (2023)Board Gender Diversity and In…Readability of Notes to Consolidated Financial Statements and Corporate Bond Yield Spread (2020)Readability of Notes to Conso…Protection of proprietary information and financial reporting opacity: Evidence from a natural experiment (2020)Protection of proprietary inf…Integrated Reporting and Agency Costs: International Evidence from Voluntary Adopters (2020)Integrated Reporting and Agen…Does XBRL Adoption Constrain Earnings Management? Early Evidence from Mandated U.S. Filers (2019)Does XBRL Adoption Constrain …Determinants and Consequences of Quantitative Critical Accounting Estimate Disclosures (2019)Determinants and Consequences…Corporate Financial Disclosure Measurement in the Empirical Accounting Literature: A Review Article (2019)Corporate Financial Disclosur…Readability of Narrative Disclosures, and Corporate Liquidity and Payout Policies (2017)Readability of Narrative Disc…Ownership structure and disclosure quality: Evidence from management forecasts revisions in Japan (2017)Ownership structure and discl…Financial statement comparability and corporate cash holdings (2017)Financial statement comparabi…Disclosure quality and earnings management: evidence from Jordan (2016)Disclosure quality and earnin…Voluntary disclosure, excess executive compensation, and firm value (2015)Voluntary disclosure, excess …THE DEMAND FOR LIQUID ASSETS, CORPORATE SAVING, AND INTERNATIONAL CAPITAL FLOWS (2015)THE DEMAND FOR LIQUID ASSETS,…Audit Quality and the Market Value of Cash Holdings: The Case of Office-Level Auditor Industry Specialization (2014)Audit Quality and the Market …Why does shareholder protection matter for abnormal returns after reported insider purchases and sales? (2012)Why does shareholder protecti…Increases in risk and in risk aversion (1974)Risk Sharing and Incentives in the Principal and Agent Relationship (1979)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Financial Dependence and Growth (1996)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Separation of Ownership and Control (1983)Earnings Management During Import Relief Investigations (1991)Opaque financial reports, R2, and crash risk☆ (2009)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)Agency Problems and the Theory of the Firm (1980)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation (1982)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Another look at the instrumental variable estimation of error-components models (1995)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Corporate social responsibility and access to finance (2013)The China Syndrome: Local Labor Market Effects of Import Competition in the United States (2013)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Law and Finance (1998)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Determinants of corporate borrowing (1977)The Capital Structure Puzzle (1984)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Legal Determinants of External Finance (1997)Corporate Ownership Around the World (1999)Investor protection and corporate governance (2000)The economic implications of corporate financial reporting (2005)Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis (2007)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 2001Econometric Analysis of Cross Section and Panel Data27,575 cited
  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1997A Survey of Corporate Governance16,237 cited
  • 1981Credit Rationing in Markets with Imperfect Information12,762 cited
  • 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature7,391 cited
  • 2002Audit committee, board of director characteristics, and earnings management4,633 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 1999The determinants and implications of corporate cash holdings3,910 cited
  • 1991Disclosure, Liquidity, and the Cost of Capital3,828 cited
  • 1997Disclosure level and the cost of equity capital.3,577 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1993Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures

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2,643 cited
  • 2000The Economic Consequences of Increased Disclosure2,369 cited
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    • 2020Integrated Reporting and Agency Costs: International Evidence from Voluntary Adopters90 cited
    • 2017Financial statement comparability and corporate cash holdings87 cited
    • 2023Board Gender Diversity and Investment Efficiency: Global Evidence from 83 Country-Level Interventions79 cited
    • 2019Corporate Financial Disclosure Measurement in the Empirical Accounting Literature: A Review Article75 cited
    • 2017Readability of Narrative Disclosures, and Corporate Liquidity and Payout Policies67 cited
    • 2020Protection of proprietary information and financial reporting opacity: Evidence from a natural experiment64 cited
    • 2014Audit Quality and the Market Value of Cash Holdings: The Case of Office-Level Auditor Industry Specialization61 cited
    • 2012Why does shareholder protection matter for abnormal returns after reported insider purchases and sales?60 cited
    • 2017Ownership structure and disclosure quality: Evidence from management forecasts revisions in Japan59 cited
    • 2015THE DEMAND FOR LIQUID ASSETS, CORPORATE SAVING, AND INTERNATIONAL CAPITAL FLOWS59 cited
    • 2020Readability of Notes to Consolidated Financial Statements and Corporate Bond Yield Spread58 cited
    • 2016Disclosure quality and earnings management: evidence from Jordan50 cited
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