Discussion of “How disclosure quality affects the level of information asymmetry”

Yonca Ertimur ()
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Yonca Ertimur: Duke University

Review of Accounting Studies, 2007, vol. 12, issue 2, No 14, 479-485

Abstract: Abstract Brown and Hillegeist (2007) examine how disclosure quality relates to information asymmetry. Specifically, the authors show that the negative association between the overall quality of a firm’s disclosures and the average level of information asymmetry is primarily driven by the negative association between disclosure quality and the frequency of information events. My discussion focuses on issues surrounding proxies for information asymmetry and disclosure quality the authors use. I also suggest some venues for future research.

Keywords: Disclosure quality; Information asymmetry; Informed trading; Private information events; M41; D82 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s11142-007-9028-1

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