AMBIENTUM BIOETHICA BIOLOGIA CHEMIA DIGITALIA DRAMATICA EDUCATIO ARTIS GYMNAST. ENGINEERING EPHEMERIDES EUROPAEA GEOGRAPHIA GEOLOGIA HISTORIA HISTORIA ARTIUM INFORMATICA IURISPRUDENTIA MATHEMATICA MUSICA NEGOTIA OECONOMICA PHILOLOGIA PHILOSOPHIA PHYSICA POLITICA PSYCHOLOGIA-PAEDAGOGIA SOCIOLOGIA THEOLOGIA CATHOLICA THEOLOGIA CATHOLICA LATIN THEOLOGIA GR.-CATH. VARAD THEOLOGIA ORTHODOXA THEOLOGIA REF. TRANSYLVAN
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The STUDIA UNIVERSITATIS BABEŞ-BOLYAI issue article summary The summary of the selected article appears at the bottom of the page. In order to get back to the contents of the issue this article belongs to you have to access the link from the title. In order to see all the articles of the archive which have as author/co-author one of the authors mentioned below, you have to access the link from the author's name. |
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STUDIA OECONOMICA - Issue no. 2 / 2008 | |||||||
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ROLE OF FINANCIAL AND VOLUNTARY DISCLOSURE / LE ROLE DE L’INFORMATION FINANCIERE ET DE LA DIVULGATION VOLONTAIRE. Authors: SORIN ACHIM. |
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Abstract: Mandated and voluntary disclosures reduce information asymmetry among market participants, which in turn lowers the cost of capital and facilitates the channeling of investment into the most productive projects. However, a corner solution of maximum disclosure is not observed because direct, proprietary, and litigation costs of disclosure and benefits of disclosure vary across countries. Institutional factors like the code-law and common-law legal systems and the stakeholder and shareholder corporate governance models create differential demands for public disclosure of financial information. Thus, systematic international variation in accounting standards and information disclosure is observed. JEL Classification: M49 Keywords: voluntary disclosure, financial information, quality. |
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