...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Review of quantitative finance and accounting >How do industry peers influence individual firms' voluntary disclosure strategies?
【24h】

How do industry peers influence individual firms' voluntary disclosure strategies?

机译：行业同行如何影响个人公司的自愿披露策略？

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This paper investigates how industry peer firms influence the voluntary disclosure strategies of individual firms. Our 2SLS regressions on an empirical sample of management earnings forecasts show that the disclosure strategies of individual firms are significantly influenced by their peer firms' disclosure behaviors. Specifically, the increased disclosure frequency and disclosure horizon of their industry peers encourage individual firms to increase their disclosure frequency and disclosure horizon. Moreover, firms with S&P credit ratings, higher profitability, larger size, and/or a higher market-to-book ratio tend to be more sensitive to their peer firms' voluntary disclosure frequency, and react more strongly to peer firms that are of dissimilar size or profitability. Finally, we find that the leader-follower relation does not influence the effects of peer firms' disclosure strategies. Additional tests suggest that signaling theory and litigation risk provide stronger explanations of why firms mimic their peers than herding theory and free rider theory. This paper contributes to the accounting literature by providing new evidence on the effects of voluntary disclosure. Our findings are also of relevance to industry practitioners, and they shed light on the recently proposed voluntary disclosure regulations.
机译：本文调查了行业同行企业如何影响个别公司自愿披露策略。我们的2SLS对管理收益预测的实证样本的回归表明，个人公司的披露策略受到同行企业披露行为的显着影响。具体而言，其行业同行的增加的披露频率和披露地平线鼓励个别公司增加其披露频率和披露地平线。此外，具有标准普尔信用评级的公司，盈利能力更高，尺寸更高，和/或更高的市场对账面比率往往对其同行公司的自愿披露频率更敏感，并更强烈地对同类不同的同行公司作出反应尺寸或盈利能力。最后，我们发现，领导者追随者关系不会影响同性公司披露策略的影响。其他测试表明，信令理论和诉讼风险提供了更强大的解释，为什么公司模仿其同行的同行，而不是放牧理论和自由骑手理论。本文通过为自愿披露的影响提供新的证据，为会计文献提供了贡献。我们的调查结果也与行业从业者的相关性，他们在最近提出的自愿披露法规上阐明了光线。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号