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Full-Text Articles in Business
Disclosure Regulation: Past, Present, And Future, S.P. Kothari, Liandong Zhang
Disclosure Regulation: Past, Present, And Future, S.P. Kothari, Liandong Zhang
Research Collection School Of Accountancy
This monograph provides an overview of the theories of disclosure regulation and recent developments in the disclosure regulation literature. We organize our discussion around three basic questions. First, why do we need to regulate corporate disclosure in the financial market? Second, which theories explain the current state of disclosure regulation? Third, what are the economic consequences of disclosure regulation? In exploring the third question, we discuss several examples of disclosure regulation related to information production, dissemination, and presentation. Then, we provide an overview of the current debate on mandating environmental, social and governance (ESG) disclosure and reporting. Finally, we conclude …
Estimating Financial Information Asymmetry In Real Estate Transactions In China: An Application Of Two-Tier Frontier Model, Ganlin Pu, Ying Zhang, Li-Chen Chou
Estimating Financial Information Asymmetry In Real Estate Transactions In China: An Application Of Two-Tier Frontier Model, Ganlin Pu, Ying Zhang, Li-Chen Chou
Research Collection School Of Computing and Information Systems
This study applies the two-tier stochastic frontier model to estimate the distribution of housing transaction information in Hangzhou, Wenzhou, Ningbo, and Jinhua (four cities in Zhejiang Province, China) during the year 2018, to analyze the difference in the price information acquired by the buyers and sellers in the transaction, and the effect of information asymmetry on the transaction price. The empirical results show that in each city, during the housing transaction process, the supplier has more complete information about house prices than consumers, and can therefore implement price discrimination strategies in setting service prices. Due to the disadvantage in acquired …