How disclosure quality affects the level of information asymmetry

By Stephen J. Brown, Stephen A. Hillegeist. 2007

718 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d72f12cd4a52a3217ff7af82d957a6fde80d6532

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Citations in the corpus

Carbon Disclosure, Contextual Factors, and Information Asymmetry: The Case of Physical Risk Reporting (2018, background): “In this context, previous studies suggest that the extent to which disclosure reduces information asymmetry depends on the quantity and quality of the information provided (Brown & Hillegeist, 2007; Lambert, Leuz, & Verrecchia, 2007).”
Mitigating information asymmetry through sustainability assurance: The role of accountants and levels of assurance (2017, background): “According to this theory, firms are economic units that operate within contexts formed by a nexus of institutions that affect their behaviour (Campbell, 2007; Campbell, Hollingsworth, & Lindberg, 1991; Roe, 1991). The institutional context defines the rules of the game for social interactions (North”
R2 and Idiosyncratic Risk are not Interchangeable (2014, background): “Welker (1995) and Brown and Hillegeist (2007) document associations between a more opaque disclosure policy, as proxied by Association for Investment Management and Research (AIMR) scores, and two measures of information asymmetry: higher bid-ask spreads and PIN scores.”
Earnings management and market liquidity (2012, background): “Cheng et al. (2006) find firms with greater transparency (based on S&P’s financial transparency and information disclosure rankings) combined with stronger shareholder rights are associated with a lower cost of equity capital.”
Shaping Liquidity: On the Causal Effects of Voluntary Disclosure (2013, neutral): “Most prior work on disclosure uses pre-Reg FD data (see Botosan (1997), Coller and Yohn (1997), Botosan and Plumlee (2002), and Brown and Hillegeist (2007)).”
Target’s earnings quality and bidders’ takeover decisions (2013, neutral): “…Prior studies evaluating the effect of financial reporting quality on information asymmetry between insiders and outsiders include Diamond (1985), Brown and Hillegeist (2007), and Bhattacharya et al. (2007). choices, and/or (iii) the opacity caused by off-balance sheet transactions and real…”
Disclosure Measurement in the Empirical Accounting Literature - A Review Article (2010, background): “However, to date there is no single measure of disclosure quality that attracts no criticisms (e.g., Beretta and Bozzolan, 2004; Brown and Hillegeist, 2007).”