Voluntary Disclosure, Earnings Quality, and Cost of Capital

By Jennifer Francis, D. Nanda, Per Olsson. 2008

1,065 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/f9f507f06b10ff759246bc8e4cdef8f404d8817f

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Citations in the corpus

Do Lenders Value Corporate Social Responsibility? Evidence from China (2011, background): “Larger firms are also more transparent (Francis et al. 2008; Bushman et al. 2004), and therefore provide alternative sources of information about business risks than smaller (and less transparent) firms, which reduces the usefulness of CSR information in the assessment of large firms’ business risks”
Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research (2010, neutral): “2009), earnings quality (e.g., FLOS 2005; Bharath et al. 2008; Francis et al. 2008), corporate governance (e.”
Guiding Through the Fog: Financial Statement Complexity and Voluntary Disclosure (2016, positive): “For the most part, these studies focus on measures of earnings quality and document a positive relation between earnings quality and the incidence, frequency, and accuracy of voluntary disclosure (e.g., Lennox and Park, 2006; Francis et al., 2008; Gong et al., 2009).”
Target’s earnings quality and bidders’ takeover decisions (2013, positive): “Francis et al. (2008) show this measure to be a good proxy for overall reporting quality.”
Employee Ownership and Firm Disclosure (2015, methodology): “13 Finally, our most comprehensive metric is a measure of the quality of management guidance based on the Francis et al. (2008) management forecast score (MFS).”
Institutional Investment Horizon and Investment-Cash Flow Sensitivity (2012, background): “Indeed, Elyasiani et al. (2010) find evidence of a robust negative relationship between institutional ownership stability and the cost of debt, a commonly used proxy for information quality (e.g., Francis et al. 2008).”
Financial Reporting Frequency, Information Asymmetry, and the Cost of Equity (2012, positive): “…find that the relation between disclosure and information asymmetry/cost of equity varies across different types of firms, different types of disclosures and different measures of information asymmetry (Botosan, 1997; Leuz and Verrecchia, 2000; Botosan and Plumlee, 2002; Francis et al., 2008).”
Corporate Social Responsibility Reporting and Earnings Management: The Role of Political Costs (2011, background): “Second, Francis et al. (2008) propose that earnings quality – which is the inverse of earnings management – influences firms’ disclosure decisions.”
Corporate Social Responsibility as a Strategic Shield Against Costs of Earnings Management Practices (2014, methodology): “A number of previous research papers have pointed out that the earnings quality decreases information asymmetries and the cost of capital (Francis et al. 2005, 2008a; Bhattacharya et al. 2003).”
Do Markets Punish or Reward Corporate Social Responsibility Decoupling? (2020, background): “The dependent variable, cost of capital “COC,” is an ex ante indicator of cost of equity (Francis et al., 2008).”