Challenges and opportunities in disclosure research—A discussion of ‘the financial reporting environment: Review of the recent literature’

Beyer et al. (2010) review the financial reporting literature related to voluntary and mandatory firm disclosures, and sell-side analyst reports. The discussion summarizes their approach, highlights some of their main conclusions, and presents alternative ideas about promising avenues for future res...

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Bibliographic Details
Published in:	Journal of accounting & economics 2011-02, Vol.51 (1), p.204-218
Main Author:	Berger, Philip G.
Format:	Article
Language:	eng
Subjects:	Accounting methods Accounting research Accounting standards Disclosure Financial information Financial reporting Financial reporting Disclosure Regulation Regulation Research trends
Online Access:	Get full text
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Summary:	Beyer et al. (2010) review the financial reporting literature related to voluntary and mandatory firm disclosures, and sell-side analyst reports. The discussion summarizes their approach, highlights some of their main conclusions, and presents alternative ideas about promising avenues for future research. ► Mixed Data Sampling (MIDAS) regression is a good alternative to return decomposition. ► Voluntary disclosure models incorporating real effects on production are promising. ► Empirical research on voluntary disclosure's costs and benefits has limitations. ► Transparency may reduce welfare in mandated disclosure models with production effects. ► Empirical tests of investment effects of disclosure confront endogeneity issues.
ISSN:	0165-4101 1879-1980