The role of financial reporting in resolving uncertainty about corporate investment opportunities

• 成果类型: Article
• 署名作者: Ferracuti, Elia; Stubben, Stephen R.
• 署名单位: Duke University; Utah System of Higher Education; University of Utah
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/j.jacceco.2019.101248
• 发表日期: 2019
• 关键词: information environment; Accounting information; earnings management; public information; AGENCY COSTS; QUALITY; FIRMS; disclosure; price; MARKET

摘要

This discussion of the survey of the literature on financial reporting and corporate investment by Roychowdhury et al. (2019) focuses on an area in this literature that has received less attention-how financial reporting helps managers allocate capital across investment opportunities within their firms in the presence of uncertainty. We discuss the theory on investment under uncertainty and offer suggestions for future research. (C) 2019 Elsevier B.V. All rights reserved.