Journal article
Selective disclosure and the role of Form 8-K in the post-Reg FD era
Journal of business finance & accounting, Vol.47(3-4), pp.365-396
03/01/2020
DOI: 10.1111/jbfa.12416
Abstract
We investigate the impact of Form 8-K filings on cross-firm differences in analysts' private or idiosyncratic information in the post-Reg FD era. Using firms' connections to the investment community to identify the likelihood of selective disclosure, we document differences in analysts' idiosyncratic information arising from selective disclosure before 8-K filings. While filings of 8-Ks pursuant to Reg FD attenuate the link between connections and analysts' idiosyncratic information, they do so only after selective disclosures have already resulted in some analysts having better private information. In addition, the connections continue to facilitate private information search after the filings of non-Reg FD-specific 8-Ks.
Details
- Title: Subtitle
- Selective disclosure and the role of Form 8-K in the post-Reg FD era
- Creators
- Cristi Gleason - University of IowaZhejia Ling - Iowa State UniversityRong Zhao - University of Calgary
- Resource Type
- Journal article
- Publication Details
- Journal of business finance & accounting, Vol.47(3-4), pp.365-396
- Publisher
- Wiley
- DOI
- 10.1111/jbfa.12416
- ISSN
- 0306-686X
- eISSN
- 1468-5957
- Number of pages
- 32
- Language
- English
- Date published
- 03/01/2020
- Academic Unit
- Accounting
- Record Identifier
- 9984380553502771
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