...Gurpal S. Sran ABSTRACT I study disclosure choices in job postings and the following tradeoff: detailed postings inform and attract optimal job applicants (labor market channel) but could simultaneously inform competitors in labor and product markets (proprietary costs channel). First, I provide...

... cuts are met with an increase in innovation investment by their technology rivals. Consistent with an increase in proprietary costs, EDGAR-filers disclose less about their innovation activities. We also find evidence of a redistribution of innovative activity from public to private firms not subject...

..., University of Rochester, Simon Business School, Department of Accounting, Rochester, NY, USA. Editor’s note: Accepted by Edward J. Riedl. 01 03 2021 28 07 2022 31 08 2022 2023 Our evidence of the joint importance of agency and proprietary costs for SEC FOIA searches...

...Paul A. Griffin; Hyun A. Hong; Ji Woo Ryou ABSTRACT We examine whether proprietary costs drive R&D-active firms' choice of private loan structure. We find that R&D-active firms are more likely to choose single-lender over multi-lender private loan financing. This is consistent...

...) and low proprietary costs from a supplemental voluntary disclosure (wherein the firm discloses its nonaggressive tax planning), firms are likely to voluntarily disclose information that both preempts and supplements the government's mandatory disclosure. Thus, when mandatory disclosures are incomplete...

..., and the sign and the source of reserves changes. We also exploit two plausibly exogenous shocks: the tightening of the O&G reserve disclosure rules and the introduction of fracking technology. Additional tests more directly focused on the presence of proprietary costs confirm that the mandated reserve...

... negative relation between competition and disclosure require the type of voluntary disclosure to be relevant to the dimension of competition under examination to ensure that firms incur significant proprietary costs of disclosure. In other words, many types of disclosure do not provide actionable...

...,” are not associated with relationship termination risk. We show that the first six case types are associated with differences in strategic disclosure choices between the two supplier types, while the latter two case types are not. This result establishes an explicit link between a variation in proprietary costs...

... by investors and the proprietary costs faced by managers affect fund disclosures. Consistent with managers reducing proprietary costs, better-performing funds disclose less quantitative data about performance and holdings, and consistent with the presence of agency costs, riskier funds disclose less...

... disclosures required for non-EGCs. Our findings are consistent with proprietary cost concerns motivating EGCs to eliminate some of the previously mandatory disclosures, which increases information uncertainty in the IPO market, attracts investors who rely more on private information, and leads EGCs to provide...

..., but communicate privately with lead lenders, heightened information asymmetry between the lead lenders and the participant lenders induces the lead lenders to retain larger shares of the loans and form more concentrated syndicates. Overall, this study demonstrates that the proprietary costs of disclosure related...

... disclosure that involves no forecasting. I find that firms are more likely to accelerate material contract filings when forward-looking disclosures could lack credibility or arouse litigation concerns. However, for proprietary cost considerations, firms delay contract filings when facing high (low...