... ). To that end, in this study, we examine the effect of data breach disclosure laws on shareholder risk. cybersecurity cyber risk disclosure cost of capital information technology real effects capital markets disclosure mandates consumer protection corporate governance FIGURE 1 Temporal...

... 2022 expected returns risk premium cost of capital growth voluntary disclosure mandatory disclosure Following our primary firm-level analyses, we introduce an additional disclosure measure intended to conform more closely to the disclosure environment characterized in several...

.... The consequences for capital market outcomes, such as risk, risk premia, interest rates, firm prices, and the cost of capital, depend on investor preferences and whether improvements are to firm-specific or economy-wide information. We show that interest rates and risk premia tend to move in opposite directions...

... relations between stoppers and free-riders, and whether stoppers and free-riders are peer firms) and the importance of the information loss to the free-riders (proxied by analyst following and the existence of new share issues). Following the cessation event, free-riders' cost of capital decreases...

... and information asymmetry among traders by varying the distribution of private signals. We find high-quality public disclosure leads to increased price efficiency and decreased cost of capital in the pre-announcement period when information asymmetry is high. The impending high-quality public information...

...Peter O. Christensen; Zhenjiang Qin ABSTRACT In an incomplete market with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. The Pareto efficient public information system...

... were expected to exceed those from non-dividend-paying stocks. However, the opposite was observed. ³ financial constraint cost of capital TRA JGTRRA This paper investigates the extent to which a firm's financial constraint affects its cost...

...Carolyn M. Callahan; Rodney E. Smith; Angela Wheeler Spencer ABSTRACT This study examines whether the adoption in 2003 of FASB Interpretation No. 46/R (FIN 46), Consolidation of Variable Interest Entities—An Interpretation of ARB No. 51, changed the cost of capital for affected firms...