Information relevance, reliability and disclosure

Information relevance, reliability and disclosure This paper examines the relation between information’s properties, such as reliability and relevance, and public disclosure policy. It shows that the optimal accounting system often involves a carefully balanced combination of mandatory and voluntary disclosure, with mandatory reporting focused on more reliable information. The emphasis on reliability causes the welfare-maximizing mandatory report to consistently lag behind the financial market in incorporating value-relevant information. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Accounting Studies Springer Journals

Information relevance, reliability and disclosure

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Publisher
Springer US
Copyright
Copyright © 2011 by Springer Science+Business Media, LLC
Subject
Business and Management; Accounting/Auditing; Corporate Finance; Public Finance
ISSN
1380-6653
eISSN
1573-7136
D.O.I.
10.1007/s11142-011-9170-7
Publisher site
See Article on Publisher Site

References

  • The conservatism principle and the asymmetric timeliness of earnings
    Basu, S.
  • Optimal release of information by firms
    Diamond, D.
  • Reliability-relevance trade-offs and the efficiency of aggregation
    Dye, R.; Sridhar, S.
  • The nature of the interaction between mandatory and voluntary disclosures
    Einhorn, E.
  • Sufficient and necessary conditions for information to have social value in pure exchange
    Hakansson, N.; Kunkel, G.; Ohlson, J.

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