Voluntary disclosure under uncertainty about the reporting objective

摘要: Abstract The extensive research toward an understanding of corporate voluntary disclosure strategies has primarily aimed at explaining why firms do not fully disclose their private information in capital markets with rational expectations. Following a variety theories that explain the withholding information, this paper highlights uncertainty investors about reporting objective managers as another explanation. also studies how interacts other factors known to suppress disclosure, exploring common intuition regarding these does always carry over environments uncertain objective.