Abstract

http://ssrn.com/abstract=1483227
 
 

References (455)



 
 

Citations (97)



 


 



The Financial Reporting Environment: Review of the Recent Literature


Anne Beyer


Stanford University - Graduate School of Business

Daniel A. Cohen


University of Texas at Dallas - Naveen Jindal School of Management

Thomas Z. Lys


Northwestern University - Kellogg School of Management

Beverly R. Walther


Northwestern University - Department of Accounting Information & Management

July 26, 2010


Abstract:     
The corporate information environment develops endogenously as a consequence of information asymmetries and agency problems between investors, entrepreneurs, and managers. We provide a framework for analyzing the three main decisions that shape the corporate information environment in a capital markets setting: (1) managers’ voluntary reporting and disclosure decisions, (2) reporting and disclosures mandated by regulators, and (3) reporting decisions by third-party intermediaries (analysts). We review current research on disclosure regulation, information intermediaries, and the determinants and economic consequences of corporate disclosure and financial reporting decisions. We conclude that in the last ten years, research has generated a number of useful insights. Despite this progress, we call for researchers to consider interdependencies between the various decisions that shape the corporate information environment and highlight changes in the economic financial environment that raise new and interesting issues for researchers to address.

Number of Pages in PDF File: 150

Keywords: Financial Reporting, Information Environment, Disclosure, Analyst Forecasts

JEL Classification: D80, G12, G14, M41, M43

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Date posted: October 6, 2009 ; Last revised: August 13, 2010

Suggested Citation

Beyer, Anne and Cohen, Daniel A. and Lys, Thomas Z. and Walther, Beverly R., The Financial Reporting Environment: Review of the Recent Literature (July 26, 2010). Available at SSRN: http://ssrn.com/abstract=1483227 or http://dx.doi.org/10.2139/ssrn.1483227

Contact Information

Anne Beyer
Stanford University - Graduate School of Business ( email )
518 Memorial Way
Stanford, CA 94305-5015
United States

Daniel A. Cohen
University of Texas at Dallas - Naveen Jindal School of Management ( email )
P.O. Box 830688
Richardson, TX 75083-0688
United States
972-883-4772 (Phone)
972-883-6811 (Fax)
Thomas Z. Lys (Contact Author)
Northwestern University - Kellogg School of Management ( email )
2001 Sheridan Road
Department of Accounting & Information Systems
Evanston, IL 60208
United States
847-491-2673 (Phone)
847-467-1202 (Fax)
Beverly R. Walther
Northwestern University - Department of Accounting Information & Management ( email )
2001 Sheridan Road
Evanston, IL 60208
United States
847-467-1595 (Phone)
847-467-1202 (Fax)
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