Essay on the Theory of Disclosure

Bruno Meirelles Salotti and Marina Mitiyo Yamamoto
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Bruno Meirelles Salotti: University of São Paulo
Marina Mitiyo Yamamoto: University of São Paulo

Brazilian Business Review, 2005, vol. 2, issue 1, 52-68

Abstract: The present essay is based on the paper by Verrecchia (2001) and seeks to present and discuss the analytical models developed from the theory of disclosure. Initially, research on this subject is classified into three categories: based on association, discretion and efficiency. Mathematical relations are shown for each category seeking to represent the disclosure phenomenon and the variables related to it. Besides this, game theory is presented as another possible approach to model the disclosure process. It is hoped that such models will serve as a theoretical base to develop hypotheses and conduct further research for empirical verification of these hypotheses, and consequently, based on such evidence, to improve the models to better represent the reality of the disclosure process.

Keywords: Cost of capital; disclosure; corporate governance. (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:bbz:fcpbbr:v:2:y:2005:i:1:p:52-68

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