The financial reporting environment: Review of the recent literature

Anne Beyer; Daniel A. Cohen; Thomas Z. Lys; Beverly R. Walther

doi:10.1016/j.jacceco.2010.10.003

The financial reporting environment: Review of the recent literature

Anne Beyer, Daniel A. Cohen, Thomas Z. Lys^*, Beverly R. Walther

^*Corresponding author for this work

Accounting Information and Management

Research output: Contribution to journal › Article › peer-review

1327 Scopus citations

Abstract

The corporate information environment develops endogenously as a consequence of information asymmetries and agency problems between investors, entrepreneurs, and managers. We review current research on the three main decisions that shape the corporate information environment in capital market settings: (1) managers' voluntary disclosure decisions, (2) disclosures mandated by regulators, and (3) reporting decisions by analysts. We conclude that, in the last ten years, research has generated several useful insights. Despite this progress, we call for researchers to consider interdependencies between the various decisions that shape the corporate information environment and suggest new and interesting issues for researchers to address.

Original language	English (US)
Pages (from-to)	296-343
Number of pages	48
Journal	Journal of Accounting and Economics
Volume	50
Issue number	2-3
DOIs	https://doi.org/10.1016/j.jacceco.2010.10.003
State	Published - Dec 2010

Funding

We thank Philip Berger (discussant), Ronald Dye, Ilan Guttman, Margaret Neale, Ulf Schiller, Ron Shalev, Ross Watts (editor), Jerold Zimmerman (editor), and participants at the 2009 Journal of Accounting and Economics conference for helpful comments and discussions. We appreciate the financial support from Stanford University, New York University, and the Kellogg School of Management at Northwestern University.

Keywords

Analysts
Information environment
Mandatory disclosures
Regulation
Voluntary disclosures

ASJC Scopus subject areas

Accounting
Finance
Economics and Econometrics

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10.1016/j.jacceco.2010.10.003

Cite this

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title = "The financial reporting environment: Review of the recent literature",

abstract = "The corporate information environment develops endogenously as a consequence of information asymmetries and agency problems between investors, entrepreneurs, and managers. We review current research on the three main decisions that shape the corporate information environment in capital market settings: (1) managers' voluntary disclosure decisions, (2) disclosures mandated by regulators, and (3) reporting decisions by analysts. We conclude that, in the last ten years, research has generated several useful insights. Despite this progress, we call for researchers to consider interdependencies between the various decisions that shape the corporate information environment and suggest new and interesting issues for researchers to address.",

keywords = "Analysts, Information environment, Mandatory disclosures, Regulation, Voluntary disclosures",

author = "Anne Beyer and Cohen, {Daniel A.} and Lys, {Thomas Z.} and Walther, {Beverly R.}",

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AU - Lys, Thomas Z.

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KW - Regulation

KW - Voluntary disclosures

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The financial reporting environment: Review of the recent literature

Abstract

Funding

Keywords

ASJC Scopus subject areas

Access to Document

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