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Download 2009 Financial Economics Cheynel Dissertation PDF by ['Erna Tri Cahyani'] in PDF format completely FREE. No registration required, no payment needed. Get instant access to this valuable resource on PDFdrive.to!
About 2009 Financial Economics Cheynel Dissertation PDF
This dissertation explores the relationship between voluntary disclosure and cost of capital. The author develops a model to show that firms that voluntarily disclose information have a lower cost of capital than non-disclosing firms. The model also examines how reductions in cost of capital relate to improved risk-sharing and productive efficiency. It finds that high (low) disclosure frictions lead to overinvestment (underinvestment) compared to the first-best benchmark. Economic efficiency decreases as disclosure frictions increase due to inefficient production under underinvestment. The relationship between average cost of capital and economic efficiency is ambiguous.
Detailed Information
| Author: | ['Erna Tri Cahyani'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 103 |
| Language: | English |
| Format: | |
| Price: | FREE |
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