Individual investors and financial disclosure

Lawrence, A (2013) Individual investors and financial disclosure. Journal of Accounting and Economics, 56 (1). pp. 130-147. ISSN 0165-4101

Abstract

Using detailed data of individual investors, this study shows that, on average, individuals invest more in firms with clear and concise financial disclosures. The results indicate this relation is less pronounced for high frequency trading and financially-literate individuals. The study also shows that individuals' returns are increasing with clearer and more concise disclosures, implying such disclosures reduce individuals' relative information disadvantage. Together, the findings suggest improved corporate disclosure practices benefit individual investors, in particular buy-and-hold investors.

More Details

Item Type: Article
Subject Areas: Accounting
Date Deposited: 31 Aug 2017 15:50
Subjects: Disclosure of financial information
Investment theory
Information
Last Modified: 05 Nov 2024 02:28
URI: https://lbsresearch.london.edu/id/eprint/864
More

Export and Share


Download

Full text not available from this repository.

Statistics

Altmetrics
View details on Dimensions' website

Downloads from LBS Research Online

View details

Actions (login required)

Edit Item Edit Item