Abstract We explore whether disclosures in the Management Discussion & Analysis (MDA it is stronger when firms operate in industries that have lower entry costs, are larger, and have less… Click to show full abstract
Abstract We explore whether disclosures in the Management Discussion & Analysis (MDA it is stronger when firms operate in industries that have lower entry costs, are larger, and have less substitutable products. We obtain similar results for investment efficiency. Overall, our evidence suggests that MD&A disclosures have spillover effects for investment that can improve investment efficiency, and that spillover effects are moderated by industry competition.
Keywords:
spillover effects;
investment;
industry competition;
effects disclosures
Journal Title: Journal of Accounting and Economics
Year Published: 2020
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Journal Title: Journal of Accounting and Economics
Year Published: 2020
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!