Disclosure Quality, the Cost of Capital and Strategic Correlation

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Disclosure Quality, the Cost of Capital and Strategic Correlation

We investigate the strategic role of correlation between disclosure error and payoff shock in affecting a firm’s cost of capital or share price. We show that the correlation affects the relationship between disclosure quality and the cost of capital or share price. The standard result where disclosu...

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Bibliographic Details
Main Authors:	Cheung, Adrian, Hu, Wei
Format:	Working Paper
Published:	Centre for Research in Applied Economics 2014
Subjects:	disclosure quality Cost of capital strategic correlation
Online Access:	http://hdl.handle.net/20.500.11937/47642

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