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- catalog abstract "This paper examines the causes and consequences of expanded disclosure for 90 firms with increased analyst disclosure ratings. Our evidence suggests that managers expand disclosure when they believe their firms are undervalued. Undervaluation is costly for the sample firms because it reduces their financial flexibility in making new public issues and lowers the value of outstanding management stock options. Following the increase in disclosure there is a reduction in undervaluation, accompanied by an increase in stock liquidity, analyst following, and institutional holdings. This evidence suggests that for our sample firms' expanded disclosure lowers their costs of capital.".
- catalog contributor b8842846.
- catalog contributor b8842847.
- catalog contributor b8842848.
- catalog created "1995.".
- catalog date "1995".
- catalog date "1995.".
- catalog dateCopyrighted "1995.".
- catalog description "Includes bibliographical references (p. 28-29).".
- catalog description "This paper examines the causes and consequences of expanded disclosure for 90 firms with increased analyst disclosure ratings. Our evidence suggests that managers expand disclosure when they believe their firms are undervalued. Undervaluation is costly for the sample firms because it reduces their financial flexibility in making new public issues and lowers the value of outstanding management stock options. Following the increase in disclosure there is a reduction in undervaluation, accompanied by an increase in stock liquidity, analyst following, and institutional holdings. This evidence suggests that for our sample firms' expanded disclosure lowers their costs of capital.".
- catalog extent "42 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 95-076.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 95-076".
- catalog issued "1995".
- catalog issued "1995.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Do firms benefit from expanded voluntary disclosure? / by Paul M. Healy, Krishna G. Palepu and Amy P. Sweeney.".
- catalog type "text".