Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
By Karthik Balakrishnan, M. Billings, Bryan T. Kelly, Alexander P. Ljungqvist. 2013
482 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/2dae7d0e37664857279e77d2f1c001e96ca9fcb8
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Citations in the corpus
- Analyst Coverage and Real Earnings Management: Quasi-Experimental Evidence (2014, unknown): “, 2013; Irani and Oesch, 2013), and stock liquidity (Balakrishnan et al., 2013).”
- Big Data as a Governance Mechanism (2019, background): “It is unclear ex ante whether disclosure would increase after alternative data availability, because firms could disclose more information when prices are less informative (Frenkel et al. 2017; Balakrishnan et al. 2014).”
- The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2015, unknown): “To strengthen evidence of a causal link, Balakrishnan et al. (2014) exploit an exogenous shock to the information environment, i.e., the loss of an analyst, stemming from brokerage house closures and mergers after Reg FD.”
- Does Information Asymmetry Affect Corporate Tax Aggressiveness? (2017, unknown): “27 The significant effect of analyst coverage due to brokerage exit is consistent with the literature using the same natural experiments of broker mergers and closures (e.g., Kelly and Ljungqvist, 2012; Balakrishnan et al., 2014; Fong et al., 2014).”
- Institutional Investor Attention and Firm Disclosure (2020, unknown): “Because the literature typically finds a negative relation between liquidity and information asymmetry (Balakrishnan et al. 2014; Schoenfeld 2017), one prediction motivated by our lack of findings on information quality is that liquidity does not change.”
- The Effect of Institutional Ownership on Firm Transparency and Information Production (2015, unknown): “A firm's information environment has important implications for investment, liquidity, and risk (e.g., Grossman and Stiglitz, 1980; Verrecchia, 1983; Myers and Majluf, 1984; Lang and Lundholm, 1996; Balakrishnan et al., 2014).”
- On Guidance and Volatility (2015, unknown): “(Anantharaman and Zhang 2011), economically meaningful improvements in liquidity (Balakrishnan et al. 2014), and compliance with disclose-or-abstain insider trading regulations (Li, Wasley and Zimmerman 2014).”
- Monitoring and Corporate Disclosure: Evidence from a Natural Experiment (2013, unknown): “Greater disparity of information among investors could lead to a loss of liquidity (Diamond, 1985; Diamond and Verrecchia, 1991), say if the less-informed retail investors withdraw from the market (Balakrishnan et al., 2012; Kelly and Ljungqvist, 2007, 2012). These two distinct channels could both l”
- Guiding Through the Fog: Financial Statement Complexity and Voluntary Disclosure (2016, unknown): “K filings as alternative measures of voluntary disclosure (e.g., Leuz and Schrand, 2009; Balakrishnan et al., 2014b).”
- Textual Analysis and International Financial Reporting: Large Sample Evidence (2015, unknown): “It is notable that, while empirical evidence on the impact of IFRS with respect to quantitative data is mixed (see, for example, Barth et al. (2008) and Ahmed et al.”