The Effect of Information on Uncertainty and the Cost of Capital

It is widely held that better financial reporting makes investors more confident in their predictions of future cash flows and reduces their required risk premia. The logic is that more information leads necessarily to more certainty, and hence lower subjective estimates of firm “beta” or covariance...

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Veröffentlicht in:	Contemporary accounting research 2016-06, Vol.33 (2), p.752-774
1. Verfasser:	Johnstone, David
Format:	Artikel
Sprache:	eng
Schlagworte:	Bayesian analysis Capital costs Effects Financial reporting Uncertainty
Online-Zugang:	Volltext
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