Ahmed, Kamran; Hossain, Mahmud; Godfrey , Jayne
This paper examines empirically the relationship between the level of disclosure of prospective information and the investment opportunity set for firms in New Zealand. Using a systems (two-stage least squares) approach that explicitly controls for potential endogeneity between disclosure and IOS, we find that the level of prospective information disclosure is significantly and positively related to IOS in both specifications in our simultaneous analysis. Further, we document that prospective...[Show more]
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.