Guiding Through the Fog: Financial Statement Complexity and Voluntary Disclosure

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Readability of 10‐K Reports and Stock Price Crash Risk (2019, unknown): “…and DeAngelis (2015), Biddle et al. (2009), Bonsall and Miller (2017), Bozanic and Thevenot (2015), Bushee et al. (2018), Callen et al. (2013), Guay et al. (2016), Laksmana et al. (2012), Lang and Stice-Lawrence (2015), Lawrence (2013), Lee (2012), Lehavy et al. (2011), Lo et al. (2017),…”
Do Managers Disclose or Withhold Bad News? Evidence from Short Interest (2018, methodology): “Following prior studies (e.g., Balakrishnan, Core, and Verdi 2014; Guay, Samuels, and Taylor 2016; Cooper, He, and Plumlee 2018), we use two measures of voluntary disclosure.”
Mandatory CSR and sustainability reporting: economic analysis and literature review (2019, background): “70 Guay et al. (2016) suggest that firms might use voluntary disclosures to mitigate the effects of increased financial statement complexity. 71 For instance, a report by the Business and Human Rights Resource Centre (2017) examines disclosures related to the U.”
The impact of narrative disclosure readability on bond ratings and the cost of debt (2017, unknown): “Other research suggests that managers can use voluntary disclosure to overcome some of the negative equity market effects of complex financial statements (Guay et al. 2016).”