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The effect of issuance documentation disclosure and readability on liquidity: Evidence from green bonds
16 references·2 citing·42 second hop
The effect of issuance documentation disclosure and readability on liquidity: Evidence from green bonds (2021)The effect of issuance documentation disc…Corporate green bonds (2021)Corporate green bondsThe effect of pro-environmental preferences on bond prices: Evidence from green bonds (2018)The effect of pro-environment…Do Shareholders Benefit from Green Bonds? (2018)Do Shareholders Benefit from …Earnings management and annual report readability (2016)Earnings management and annua…Measuring Readability in Financial Disclosures (2014)Measuring Readability in Fina…A Simple Way to Estimate Bid‐Ask Spreads from Daily High and Low Prices (2012)A Simple Way to Estimate Bid‐…The financial reporting environment: Review of the recent literature (2010)The financial reporting envir…The Effect of Annual Report Readability on Analyst Following and the Properties of Their Earnings Forecasts (2010)The Effect of Annual Report R…Annual report readability, current earnings, and earnings persistence (2008)Annual report readability, cu…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…A New Estimate of Transaction Costs (1999)A New Estimate of Transaction…Disclosure, Liquidity, and the Cost of Capital (1991)Disclosure, Liquidity, and th…Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Bid, ask and transaction pric…Information Effects on the Bid-Ask Spread (1983)Information Effects on the Bi…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Cost of Transacting (1968)The Cost of TransactingEvaluating the impact of report readability on ESG scores: A generative AI approach (2025)Evaluating the impact of repo…Analysis of Success Factors, Benefits, and Challenges of Issuing Green Bonds in Lithuania (2023)Analysis of Success Factors, …The Pricing of Options and Corporate Liabilities (1973)Theory of Rational Option Pricing (1973)Price, trade size, and information in securities markets (1987)The Relation Between Price Changes and Trading Volume: A Survey (1987)Measuring the Information Content of Stock Trades (1991)Theory of rational option pricing (2005)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Investor Psychology and Security Market Under‐ and Overreactions (1998)Market Liquidity and Funding Liquidity (2008)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Disappearing dividends: changing firm characteristics or lower propensity to pay? (2001)How does financial reporting quality relate to investment efficiency? (2009)When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks (2011)Textual Analysis in Accounting and Finance: A Survey (2016)The evolution of 10-K textual disclosure: Evidence from Latent Dirichlet Allocation (2017)Disclosure processing costs, investors’ information choice, and equity market outcomes: A review (2020)Editor's Choice Digesting Anomalies: An Investment ApproachThe Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Liquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)Positive Accounting Theory (1985)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The market pricing of accruals quality (2005)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)Earnings quality: Evidence from the field (2013)The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2016)Dissecting green returns (2022)Commonality in liquidity (2000)Market Liquidity and Trading Activity (2001)The economic implications of corporate financial reporting (2005)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic (2021)What do you think about climate finance? (2021)Climate Risk Disclosure and Institutional Investors (2023)
this work references cited by second hop

References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders6,132 cited
  • 1991Disclosure, Liquidity, and the Cost of Capital3,828 cited
  • 2008Annual report readability, current earnings, and earnings persistence2,850 cited
  • 2021Corporate green bonds2,624 cited
  • 2010The financial reporting environment: Review of the recent literature2,622 cited
  • 1968The Cost of Transacting1,909 cited
  • 1983Information Effects on the Bid-Ask Spread1,875 cited
  • 2014Measuring Readability in Financial Disclosures1,452 cited
  • 2018The effect of pro-environmental preferences on bond prices: Evidence from green bonds1,377 cited
  • 1999A New Estimate of Transaction Costs1,340 cited
  • 2010The Effect of Annual Report Readability on Analyst Following and the Properties of Their Earnings Forecasts1,169 cited
  • 2018Do Shareholders Benefit from Green Bonds?1,157 cited
  • 2012A Simple Way to Estimate Bid‐Ask Spreads from Daily High and Low Prices1,134 cited

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  • 2016Earnings management and annual report readability799 cited
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    • 2025Evaluating the impact of report readability on ESG scores: A generative AI approach28 cited
    • 2023Analysis of Success Factors, Benefits, and Challenges of Issuing Green Bonds in Lithuania26 cited