The effects of financial reporting and disclosure on corporate investment: A review

• 成果类型: Review
• 署名作者: Roychowdhury, Sugata; Shroff, Nemit; Verdi, Rodrigo S.
• 署名单位: Boston College; Massachusetts Institute of Technology (MIT)
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/j.jacceco.2019.101246
• 发表日期: 2019
• 关键词: product market competition; earnings management; information asymmetry; economic consequences; real activities; AGENCY COSTS; Accounting information; managerial incentives; Contracting theory; EMPIRICAL-RESEARCH

摘要

A fundamental question in accounting is whether and to what extent financial reporting facilitates the allocation of capital to the right investment projects. Over the last two decades, a large and growing body of literature has contributed to our understanding of whether and why financial reporting affects investment decision-making. We review the empirical literature on this topic, provide a framework to organize this literature, and highlight opportunities for future research. (C) 2019 Elsevier B.V. All rights reserved.