Corporate Disclosure Practices, Institutional Investors, and Stock Return Volatility

By Brian J. Bushee, Christopher F. Noe. 2000

1,520 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/ccd33dc684cde98d722f38f20a7c29b37b07770c

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Citations in the corpus

Australian evidence on corporate governance attributes and their association with forward-looking information in the annual report (2008, background): “…disclosure and the number of independent directors on the board (Leftwich, Watts & Zimmerman, 1981; Forker, 1992), the presence of an audit committee (Forker, 1992), the dispersion of shareholdings (Hossain, Tan & Adams, 1994) and a higher level of institutional ownership (Bushee & Noe, 2000).”
Media Coverage and the Cost of Debt (2019, positive): “Institutional holdings reduce information asymmetry that would otherwise adversely affect ﬁrm value (Healy, Hutton, and Palepu (1999), Bushee and Noe (2000)).”
Idiosyncratic Volatility and Product Market Competition (2004, neutral): “Both these numbers are similar to those reported by Campbell et al. (2001). The average PCM in our sample is about 9%, slightly lower than estimates reported in 1980s studies (e.”
Corporate Governance, Idiosyncratic Risk, and Information Flow (2007, background): “In view of the results of Bushee and Noe (2000), we also control for the transparency of firms’ financial reporting and find that it is positively correlated with idiosyncratic volatility — but this does not substitute for or replace the governance-risk relation.”
Accounting Transparency and the Term Structure of Credit Spreads (2005, methodology): “I follow Bushee and Noe (2000) and others in converting the raw total scores into percentile ranks using”
Textual risk disclosures and investors’ risk perceptions (2013, positive): “The quarterly change in the percentage of institutional ownership, DInstitutional Ownership, is included because prior research finds an association between institutional ownership and stock return volatility (Potter 1992; Bushee and Noe 2000).”
Disclosure and the cost of capital: what do we know? (2006, background): “Alternatively, Bushee and Noe (2000) find that transient institutional investors are particularly attracted to quarterly report disclosures.”