Private Voluntary Disclosure, Financial Intermediation and Market Efficiency

John Holland

Journal of Business Finance & Accounting, 1998, vol. 25, issue 1‐2, 29-68

Abstract: This paper describes how 33 large UK companies communicated with their core shareholders, the large UK financial institutions. It focuses on the private voluntary information flows from the investee company to the financial institution (FI) and their eventual release into the public domain. The case is put for the development of a combined theory, which would link, inter alia, private and public disclosure, financial intermediation, informed trading, and market efficiency. This theory development would provide a more coherent framework for understanding the role of financial reports and other public corporate disclosure behaviour in user decisions. It would also play an important role in developing corporate finance theory and its prescriptions for corporate management.

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (31)

Downloads: (external link)
https://doi.org/10.1111/1468-5957.00177

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jbfnac:v:25:y:1998:i:1-2:p:29-68

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0306-686X

Access Statistics for this article

Journal of Business Finance & Accounting is currently edited by P. F. Pope, A. W. Stark and M. Walker

More articles in Journal of Business Finance & Accounting from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().