The impact of voluntary disclosure on a firm's investment policy

DOI10.1016/J.EJOR.2014.09.047MaRDI QIDQ726256zbMATH OpenOpenAlexFDO

Authors Laura Delaney, Jacco J. J. Thijssen

Publication date 8 July 2016

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL http://openaccess.city.ac.uk/4250/1/VoluntaryDisclosureOct2014.pdf

zbMATH Keywords

economicsreal optionsvoluntary disclosuresub-optimal investment

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Production theory, theory of the firm (91B38) Corporate finance (dividends, real options, etc.) (91G50)

Recommendations

• Mandatory disclosure, investment, and private benefits of control
• Optimal disclosure policy and undue diligence
• Information acquisition and voluntary disclosure with supply chain and capital market interaction
• Regulatory certification, risk factor disclosure, and investor behavior
• Multi-firm voluntary disclosures for correlated operations
• INSIDER TRADING AND VOLUNTARY DISCLOSURE
• Risk aversion, mandatory disclosure and the concealment of information
• Investor behavior, information disclosure strategy and counterparty credit risk contagion

Cites work

• Evaluation of firm's loss due to incomplete information in real investment decision
• Incentive Compatibility and the Bargaining Problem
• Is corporate control effective when managers face investment timing decisions in incomplete markets?
• Preemptive patenting under uncertainty and asymmetric information
• The effect of information streams on capital budgeting decisions
• The impacts of uncertainties in a real options model under incomplete information
• The non-neutrality of debt in investment timing: a new NPV rule

Cited in

(15)

• Soft information and the stewardship value of accounting disclosure
• On the voluntary disclosure of redundant information
• The kind of silence: managing a reputation for voluntary disclosure in financial markets
• Real options in operations research: a review
• Investment in high-frequency trading technology: a real options approach
• Quality disclosure strategies for small business enterprises in a competitive marketplace
• Voluntary information disclosure with heterogeneous beliefs
• Revenue-sharing between developers of virtual products and platform distributors
• Accounting disclosure and real effects
• Default and liquidation timing under asymmetric information
• Mandatory disclosure, investment, and private benefits of control
• The dampening effect of iceberg orders on small traders' welfare, a real options perspective
• Symmetric equilibrium strategies in game theoretic real option models with incomplete information
• Optimal investment and abandonment decisions for projects with construction uncertainty
• Renegotiation-proof contracting, disclosure, and incentives for efficient investment

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