Matching Items (2)

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Give it to me straight: how, when, and why managers disclose inside information about seasoned equity offerings

Description

Managers’ control over the timing and content of information disclosure represents a significant strategic tool which they can use at their discretion. However, extant theoretical perspectives offer incongruent arguments and

Managers’ control over the timing and content of information disclosure represents a significant strategic tool which they can use at their discretion. However, extant theoretical perspectives offer incongruent arguments and incompatible predictions about when and why managers would release inside information about their firms. More specifically, agency theory and theories within competitive dynamics provide competing hypotheses about when and why managers would disclose inside information about their firms. In this study, I highlight how voluntary disclosure theory may help to coalesce these two theoretical perspectives. Voluntary disclosure theory predicts that managers will release inside information when managers perceive that the benefits outweigh the costs of doing so. Accordingly, I posit that competitive dynamics introduce the costs associated with disclosing information (i.e., proprietary costs) and that agency theory highlights the benefits associated with disclosing information. Examining the context of seasoned equity offerings (SEOs), I identify three ways managers can use information in SEO prospectuses. I hypothesize that competitive intensity increases proprietary costs that will reduce disclosure of inside information but will increase discussing the organization positively. I then hypothesize that capital market participants (e.g., security analysts and investors) may prefer managers to provide more, clearer, and positive information about the SEO and their firms. I find support for many of my hypotheses.

Contributors

Agent

Created

Date Created
  • 2017

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Parent-teacher communication concerning epilepsy: to disclose or not to disclose

Description

ABSTRACT Epilepsy is a neurological condition that sometimes pervades all domains of an affected child's life. At school, three specific threats to the wellbeing of children with epilepsy

ABSTRACT Epilepsy is a neurological condition that sometimes pervades all domains of an affected child's life. At school, three specific threats to the wellbeing of children with epilepsy exist: (1) seizure-related injuries, (2) academic problems, and (3) stigmatization. Unfortunately, educators frequently fail to take into account educationally-relevant epilepsy information when making important decisions. One possible explanation for this is that parents are not sharing such information with teachers. This study surveyed 16 parents of children with epilepsy in order to determine the rate at which they disclosed the epilepsy diagnoses to their children's teachers, as well as the difficulty with which they made the decision to disclose or withhold such information. In addition, the relationships between such disclosure and parent-participants' perceptions of the risks of epilepsy-related injuries, academic struggles, and stigmatization at school were examined. Results indicate that all participants disclosed their children's epilepsy diagnoses to their children's teachers, and most (69%) reported that making this decision was "very easy." There were no statistically significant associations between disclosure and any of three parental perception variables (perceptions of the threats of injury, academic problems, and stigmatization at school). Limitations, implications, and directions for future research are discussed.

Contributors

Agent

Created

Date Created
  • 2011