专栏名称: 财会知微堂
财会知微堂依托于厦门大学金融大数据研究中心,由游家兴教授及其团队负责运营,旨在分享财务与会计领域的学术前沿、理论思想与研究方法。
今天看啥  ›  专栏  ›  财会知微堂

【文献速递第245期】Top期刊关于信息披露三篇论文

财会知微堂  · 公众号  ·  · 2024-08-21 12:46

文章预览

点击蓝字 关注我们 01 原文: Chen H, Liang P J, Petrov E. Innovation and financial disclosure[J].Journal of Accounting Research, 2024,62(3):   935 - 979.   Innovation and Financial Disclosure ABSTRACT:  We examine how financial disclosure policy affects a firm manager's strategy to innovate within a two-period bandit problem featuring two production methods: an old method with a known probability of success, and a new method with an unknown probability. Exploring the new method in the first period provides the manager with decision-useful information for the second period, thus creating a real option that is unavailable under exploiting the old known production method. Voluntary disclosure of the firm's financial performance provides the manager with another option to potentially conceal initial failure from the market. The interaction of these two options determines the manager's incentive to explore. In equilibrium, a myopic manager who cares about the interim market pr ………………………………

原文地址:访问原文地址
快照地址: 访问文章快照
总结与预览地址:访问总结与预览