Abstract

http://ssrn.com/abstract=258514
 
 

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Information Asymmetry, Corporate Disclosure and the Capital Markets: A Review of the Empirical Disclosure Literature


Paul M. Healy


Harvard Business School; National Bureau of Economic Research (NBER)

Krishna Palepu


Harvard University - Harvard Business School; Harvard University - David Rockefeller Center for Latin American Research; Harvard Business Review; NBER; International Academy of Management

December 2000

JAE Rochester Conference April 2000

Abstract:     
Corporate disclosure is critical for the functioning of an efficient capital market. Firms provide disclosure through regulated financial reports, including the financial statements, footnotes, management discussion and analysis, and other regulatory filings. In addition, some firms engage in voluntary communication, such as management forecasts, analysts? presentations and conference calls, press releases, internet sites, and other corporate reports. Finally, there are disclosures about firms by information intermediaries, such as financial analysts, industry experts, and the financial press.

Number of Pages in PDF File: 60

JEL Classification: M41, M45, D82

working papers series





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Date posted: February 1, 2001  

Suggested Citation

Healy, Paul M. and Palepu, Krishna, Information Asymmetry, Corporate Disclosure and the Capital Markets: A Review of the Empirical Disclosure Literature (December 2000). JAE Rochester Conference April 2000. Available at SSRN: http://ssrn.com/abstract=258514 or http://dx.doi.org/10.2139/ssrn.258514

Contact Information

Paul M. Healy (Contact Author)
Harvard Business School ( email )
Soldiers Field
Boston, MA 02163
United States
617-495-1283 (Phone)
617-496-7387 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Krishna Palepu
Harvard University - Harvard Business School ( email )
Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States
617-495-6759 (Phone)
617-496-7363 (Fax)
HOME PAGE: http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=pub&facId=6527
Harvard University - David Rockefeller Center for Latin American Research ( email )
1730 Cambridge St.
Cambridge, MA 02138
United States
HOME PAGE: http://www.drclas.harvard.edu/faculty/directory/professors/view/150
Harvard Business Review ( email )
Boston, MA
United States
HOME PAGE: http://hbr.org/authors/palepu
NBER ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
HOME PAGE: http://www.nber.org/people/krishna_palepu
International Academy of Management ( email )
Avenida Pearson 21
Barcelona, 08034
Spain
HOME PAGE: http://theiam.ws/?person=palepu-krishna
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