The Effect of Fair Disclosure Rule on Investment Efficiency

Toru Ishikawa ()
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Toru Ishikawa: Graduate School of Economics, Osaka University

No 17-31, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: In this study, I examine the effect of the Fair Disclosure Rule (FD rule) on the firm fs investment efficiency. In recent studies, the real effect of dis- closure rules has attracted a great deal of attention. Therefore, this study focuses on the effect of the FD rule on the manager fs disclosure policy and firm fs investment efficiency. The results show the effect of firm fs investment efficiency is different based on how manager fs disclosure policy changed.

Keywords: Fair Disclosure Rule; Investment efficiency; Selective disclosure; Public disclosure; Real effect (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2017-10
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