Investment Opportunity Set and Voluntary Disclosure of Prospective Information: A Simultaneous Equations Approach
This paper examines empirically the relationship between the level of disclosure of prospective information and the investment opportunity set for firms in New Zealand. Using a systems (two-stage least squares) approach that explicitly controls for potential endogeneity between disclosure and IOS, w...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Wiley-Blackwell Publishing Ltd.
2005
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/46659 |