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The Impact of Investor Information Processing Costs on Firm Disclosure Choice : = Evidence from the XBRL Mandate.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	The Impact of Investor Information Processing Costs on Firm Disclosure Choice :/
其他題名:	Evidence from the XBRL Mandate.
作者:	Blankespoor, Elizbethe Ann.
面頁冊數:	1 online resource (79 pages)
附註:	Source: Dissertations Abstracts International, Volume: 74-09, Section: A.
Contained By:	Dissertations Abstracts International74-09A.
標題:	Current liabilities. -
電子資源:	click for full text (PQDT)
ISBN:	9781267694928

The Impact of Investor Information Processing Costs on Firm Disclosure Choice : = Evidence from the XBRL Mandate.
Blankespoor, Elizbethe Ann.

The Impact of Investor Information Processing Costs on Firm Disclosure Choice :Evidence from the XBRL Mandate. - 1 online resource (79 pages)

Source: Dissertations Abstracts International, Volume: 74-09, Section: A.

Thesis (Ph.D.)--University of Michigan, 2012.

Includes bibliographical references

This paper examines the effect of investor information processing costs on firms' disclosure choice. Using the recent eXtensible Business Reporting Language (XBRL) regulation as an exogenous shock to investors' processing costs, but not to firms' disclosure requirements, I find that firms increase their quantitative footnote disclosures after adoption of XBRL detailed tagging requirements designed to reduce investor processing costs. These results hold in a difference-in-difference design using non-adopting firms as the control group. To reinforce my finding that the disclosure increase is prompted by reduced investor processing costs, I examine cross-sectional settings where investor processing costs are likely to vary, showing that the disclosure increase is greater for firms where detailed information is more pertinent than summary measures (those with operations in multiple industries, more volatile earnings, and more disperse analyst forecasts), and smaller for firms with sophisticated investors. These findings suggest that investor processing costs can be significant enough to impact firms' disclosure decisions.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9781267694928Subjects--Topical Terms:

1471327
Current liabilities.
Subjects--Index Terms:

DisclosureIndex Terms--Genre/Form:

554714
Electronic books.

The Impact of Investor Information Processing Costs on Firm Disclosure Choice : = Evidence from the XBRL Mandate.
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502 $a Thesis (Ph.D.)--University of Michigan, 2012.
504 $a Includes bibliographical references
520 $a This paper examines the effect of investor information processing costs on firms' disclosure choice. Using the recent eXtensible Business Reporting Language (XBRL) regulation as an exogenous shock to investors' processing costs, but not to firms' disclosure requirements, I find that firms increase their quantitative footnote disclosures after adoption of XBRL detailed tagging requirements designed to reduce investor processing costs. These results hold in a difference-in-difference design using non-adopting firms as the control group. To reinforce my finding that the disclosure increase is prompted by reduced investor processing costs, I examine cross-sectional settings where investor processing costs are likely to vary, showing that the disclosure increase is greater for firms where detailed information is more pertinent than summary measures (those with operations in multiple industries, more volatile earnings, and more disperse analyst forecasts), and smaller for firms with sophisticated investors. These findings suggest that investor processing costs can be significant enough to impact firms' disclosure decisions.
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