The financial reporting environment: Review of the recent literature

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

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

696 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 languageEnglish (US)
Pages (from-to)296-343
Number of pages48
JournalJournal of Accounting and Economics
Volume50
Issue number2-3
DOIs
StatePublished - Dec 1 2010

Keywords

  • Analysts
  • Information environment
  • Mandatory disclosures
  • Regulation
  • Voluntary disclosures

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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