Tipo
Artigo de revista
Título
Disclosure and cost of equity capital in emerging markets
Data
2011
Ementa

Resumo:"In this paper, we conjecture that the weak association between disclosure and cost of equity capital found in the literature (Botosan, 1997) can be caused by the high-level corporate disclosure environment found in the United States. We hypothesize that in low-level corporate disclosure environments the variability in disclosure practices across firms will be larger than in the United States, and, consequently, the marginal effect of voluntary disclosure policies will be higher. Using a newly developed Brazilian Corporate Disclosure Index (BCDI), our results confirm this hypothesis. Disclosure is strongly associated with ex ante cost of equity capital for Brazilian firms. The results are more pronounced for firms with less analyst coverage and low ownership concentration, as expected."

Sumário:Motivation and hypothesis development -- Research design -- data and results -- Additionasl analysis.

Classificação (CDDir)
342.23
 
DIREITO PRIVADO [ 342 ]
» DIREITO COMERCIAL [ 342.2 ]
»» Instituições comerciais. Mercado de capitais [ 342.23 ]

Publicação: Texto - Português

 
2011
Revista de direito mercantil, industrial, econômico e financeiro / Instituto Brasileiro de Direito Comercial Comparado.
   Imprenta: São Paulo, Revista dos Tribunais, 1971.
   Referência: v. 50, n. 157, p. 70–92, jan./mar., 2011.
   Disponibilidade: Rede Virtual de Bibliotecas
   Localização:  AGU,  CAM,  STF,  STJ,  TJD

2023-01-29T00:44:48.000Z [ 9594536 ]