The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Disclosure Quality and the Excess Value of Diversification
Open accessAbstract
For a sample of U.S. firm years from 1980 through 1996 we document a positive association between the excess value of diversification as defined by Berger and Ofek [1995] and security analyst ratings of voluntary disclosure as developed by the Association for Investment Management and Research. We also examine an alternative proxy for disclosure quality that captures the degree of segment disaggregation and document a positive association between this measure and excess value. Our results are robust to controls for firm performance and information environment. Taken together, these phenomena suggest that disclosure plays a monitoring role in disciplining management's investment decisions. However, tests of the association between disclosure and the value of firms' investment spending yield mixed results.
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Cites
Healy, P. M., & Palepu, K. G. (2001) · Journal of Accounting and Economics · doi:10.1016/s0165-4101(01)00018-0 · Cited by 8,097
Disclosure, Liquidity, and the Cost of Capital
DIAMOND, D. W., & VERRECCHIA, R. E. (1991) · The Journal of Finance · doi:10.1111/j.1540-6261.1991.tb04620.x · Cited by 3,836
Verrecchia, R. E. (1983) · Journal of Accounting and Economics · doi:10.1016/0165-4101(83)90011-3 · Cited by 3,481
The Economic Consequences of Increased Disclosure
Leuz, C., & Verrecchia, R. E. (2000) · Journal of Accounting Research · doi:10.2307/2672910 · Cited by 2,370
Cited by
How does financial reporting quality relate to investment efficiency?
Biddle, G. C., Hilary, G., & Verdi, R. S. (2009) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2009.09.001 · Cited by 3,214
LEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research
Gow, I. D., Ormazabal, G., & Taylor, D. J. (2010) · The Accounting Review · doi:10.2308/accr.2010.85.2.483 · Cited by 1,356
Accounting conservatism and firm investment efficiency
García Lara, J. M., García Osma, B., & Penalva, F. (2016) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2015.07.003 · Cited by 659
Song, C. J., Thomas, W. B., & Yi, H. (2010) · The Accounting Review · doi:10.2308/accr.2010.85.4.1375 · Cited by 512
Metadata
- Authors
- BENS, D. A., & MONAHAN, S. J.
- Venue
- Journal of Accounting Research
- Publisher
- Wiley
- Published
- 2004-07-29
- Volume
- 42
- Issue
- 4
- Pages
- 691-730
- ISSN
- 0021-8456 (ISSN-L)
- 1475-679X
- OpenAlex
- W2602594608
- Cited by
- 179
- References
- 4
- FWCI
- 13.52
- Type
- journal article
- Language
- en
- Open access
- green
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- BENS, D. A., & MONAHAN, S. J. (2004). Disclosure Quality and the Excess Value of Diversification. Journal of Accounting Research. https://doi.org/10.1111/j.1475-679x.2004.00154.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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