Voluntary Financial Communication: An Analysis in Light of Market Efficiency, Signaling, and Agency Theories

Bendouzane Adil, El Moustafa Ftouh and Malainine Cheklekbire
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Bendouzane Adil: USMS - Université Sultan Moulay Slimane
El Moustafa Ftouh: USMS - Université Sultan Moulay Slimane
Malainine Cheklekbire: UIT - Université Ibn Tofaïl

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Abstract: Abstract In a world where finance is increasingly globalized, stock exchanges offer increasingly significant advantages, but the risks associated with information asymmetry must be taken into account to improve transparency within financial markets. Our article aims to study the theories of market efficiency, agency, and signaling in the context of the financial market to explain how voluntary communication of financial information can help maintain investor confidence, reduce capital costs, assist shareholders in monitoring company performance and making informed decisions, as well as signal the quality of the company to investors. Keywords: voluntary communication, efficiency theory, agency theory, signaling theory

Keywords: voluntary communication; efficiency theory; agency theory; signaling theory; African Scientific Journal; voluntary communication efficiency theory agency theory signaling theory African Scientific Journal; voluntary communication; efficiency theory; agency theory; signaling theory African Scientific Journal (search for similar items in EconPapers)
Date: 2024
Note: View the original document on HAL open archive server: https://hal.science/hal-05352337v1
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Published in African Scientific Journal, 2024, ⟨10.5281/zenodo.13623574⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05352337

DOI: 10.5281/zenodo.13623574

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