scholarly journals Quality of information disclosure, property rights, and bank loans: A bank heterogeneity perspective

2019 ◽  
Vol 12 (1) ◽  
pp. 63-92 ◽  
Author(s):  
Xichan Chen ◽  
Wanli Li ◽  
Shiyang Hu ◽  
Xing Liu
Keyword(s):  
Property Rights ◽  
Information Disclosure ◽  
Bank Loans ◽  
Quality Of Information

scholarly journals Debtholder Monitoring Incentives and Bank Earnings Opacity

2020 ◽  
pp. 1-38
Author(s):  
Piotr Danisewicz ◽  
Danny McGowan ◽  
Enrico Onali ◽  
Klaus Schaeck
Keyword(s):  
Real Estate ◽  
Information Disclosure ◽  
Quality Of Information ◽  
Legislative Changes ◽  
Priority Structure ◽  
Real Estate Loan

Abstract We exploit exogenous legislative changes that alter the priority structure of different classes of debt to study how debtholder monitoring incentives affect bank earnings opacity. We present novel evidence that exposing nondepositors to greater losses in bankruptcy reduces earnings opacity, especially for banks with larger shares of nondeposit funding, listed banks, and independent banks. The reduction in earnings opacity is driven by a lower propensity to overstate earnings and is more pronounced among larger banks and in banks with more real estate loan exposure. Our findings highlight the importance of creditors’ monitoring incentives in improving the quality of information disclosure.

scholarly journals Problems of documenting the accounting of intangible assets

2021 ◽  
pp. 58-64
Author(s):  
V.V. Yasyshena
Keyword(s):  
Intellectual Property ◽  
Property Rights ◽  
Natural Resources ◽  
Intellectual Property Rights ◽  
Working Condition ◽  
Intangible Assets ◽  
Quality Of Information ◽  
Primary Documents ◽  
The Right

The situation related to the primary documents and the structure of their forms for accounting for intangible assets needs to be resolved. The existence of a number of options for the use of forms of primary documents for accounting for intangible assets, which complicates the documentation process, as the primary forms are partially collected and regulated by several laws and regulations. The need to streamline and summarize the primary documents for accounting for intangible assets and goodwill is emphasized, the order of which should be regulated by a single document. It is recommended to implement the Guidelines for the use of forms of primary accounting of intangible assets and goodwill, with a set of relevant details, which should include documents that will reflect all groups of intangible assets, not just those related to intellectual property. Emphasis was placed on the need to develop primary documentation that will reflect the operations with the formation of intangible assets that will create internal goodwill. It is noted that the use of uniform, agreed forms of primary accounting of intangible assets is also necessary to improve the quality of inspections by regulatory authorities. Primary accounting forms for inventory of intangible assets № IA-4 «Inventory description of intellectual property rights (PR)» and № IA-5 «Inventory description of objects of the right to use natural resources, property and other intangible assets» are developed and recommended to use. It is substantiated to make clarifications and introduce additional details to the inventory descriptions, which is necessary to improve the quality of information formation during the inventory. Emphasis is placed on the need to disclose in the process of inventory objective information about intellectual property objects by checking them for functional compliance, to record the working condition of such objects.

Information Disclosure as a Matching Mechanism: Theory and Evidence from a Field Experiment

2015 ◽  
Vol 105 (2) ◽  
pp. 886-905 ◽  
Author(s):  
Steven Tadelis ◽  
Florian Zettelmeyer
Keyword(s):  
Field Experiment ◽  
Information Disclosure ◽  
Large Scale ◽  
Procurement Auctions ◽  
Quality Of Information ◽  
Market Outcomes ◽  
Scale Field ◽  
Large Scale Field ◽  
Matching Mechanism

Market outcomes depend on the quality of information available to its participants. We measure the effect of information disclosure on market outcomes using a large-scale field experiment that randomly discloses quality information in wholesale automobile auctions. We argue that buyers in this market are horizontally differentiated across cars that are vertically ranked by quality. This implies that information disclosure helps match heterogeneous buyers to cars of varying quality, causing both good and bad news to increase competition and revenues. The data confirm these hypotheses. These findings have implications for the design of other markets, including e-commerce, procurement auctions, and labor markets. (JEL C93, D44, D82, L15)

scholarly journals The Link between Information Transparency and Investment Efficiency: A Literature Review

2018 ◽  
Vol 8 (4) ◽  
pp. 71
Author(s):  
Thi Thanh Huyen Le
Keyword(s):  
Information Disclosure ◽  
Stock Price ◽  
Investment Efficiency ◽  
Quality Of Information ◽  
Stock Liquidity ◽  
Information Transparency ◽  
Firm Investments ◽  
Role Of Information

Investigating the role of information has been recently a hot topic attracting many researchers. A large number of studies have examined the effect of information on cost of capital (Christine A. Botosan, 1997; Diamond & Verrecchia, 1991; Easley & O’Hara, 2004), stock price (Welker, 1995), and stock liquidity (Leuz & Wysocki, 2008). It is demonstrated that the increase in both quantity and quality of information brings benefits to firms as well as the capital markets (Healy & Palepu, 2001). More specifically, many studies indicate the beneficial influence of information disclosure in improving the efficiency of firm investments (Biddle & Hilary, 2006; Biddle, Hilary, & Verdi, 2009; Cheng, Dhaliwal, & Zhang, 2013; Gomariz & Ballesta, 2014; Lai, Liu, & Wang, 2014). This paper presents a review of literature about the relation between information transparency and firms’ investment efficiency. 

IPO UNDERPRICING AND INFORMATION QUALITY OF PROSPECTUSES

2020 ◽  
Vol 65 (06) ◽  
pp. 1559-1577
Author(s):  
KUO ZHOU ◽  
BAICHENG ZHOU ◽  
HUAXIAO LIU
Keyword(s):  
Capital Market ◽  
Information Disclosure ◽  
Information Quality ◽  
Public Information ◽  
Relevant Information ◽  
Ipo Underpricing ◽  
Quality Of Information ◽  
Sustainable Operation ◽  
The Relationship

Effective information disclosure is the cornerstone of sustainable operation of the capital market. In the IPO market, whether public information in the prospectus can be fully captured by investors largely depends on the quality of valuation-relevant information. Based on Chinese prospectuses, we create five unique indicators to measure the information quality and examine the relationship between information quality and IPO underpricing. We find that high quality of information disclosure results in less underpricing because they relieve serious information asymmetry between issuing companies and investors. We provide a new method to supervise and improve the quality of non-financial information disclosure.

The dimensional structure of transparency: A construct validation of transparency as disclosure, clarity, and accuracy in organizations

2020 ◽  
pp. 001872672093331
Author(s):  
Andrew K Schnackenberg ◽  
Edward Tomlinson ◽  
Corinne Coen
Keyword(s):  
Information Disclosure ◽  
Construct Validation ◽  
Three Dimensional ◽  
Dimensional Structure ◽  
Practical Application ◽  
Quality Of Information ◽  
Informational Justice ◽  
Research Traditions ◽  
Advance Research

In this article, we advance research on transparency by developing and validating a measure based on recent theoretical insights about its dimensionality. We find that transparency—defined as the perceived quality of information—is a three-dimensional construct consisting of perceived information disclosure, clarity, and accuracy. Evidence shows items associated with these dimensions can be aggregated into a single transparency construct. We also find that transparency (as an aggregate construct) is distinct from neighboring constructs such as informational justice and capable of predicting perceptions of the source’s trustworthiness (ability, benevolence, and integrity). Finally, we find evidence of measurement invariance between two commonly used referents of analysis, yielding confidence in the application of the proposed measure across research settings. We discuss implications of the new measure for research on transparency, the extension of the new measure to related research traditions, and the practical application of the new measure for managers interested in constructing and appraising transparent messages.

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