A taxonomy of disclosure policies

Varda Yaari

doi:10.1016/0148-6195(93)90035-M

A taxonomy of disclosure policies

Varda Yaari

Department of Business Administration

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

The disclosure policy of the firm defines the relationship between the actual outcome and the reported outcome. This paper offers a taxonomy of disclosur policies by analyzing the Nash equilibrium contract of the owner and the manager. The variety among firms is explained by different combinations (of preferences) of owner-manager pairings. When the owner's aversion to risk changes more slowly (quickly) than the manager's, the firm is a smoother (a maximizer). The firm tells the truth only the owner's and the manager's preferences behave the same.

Original language	English
Pages (from-to)	361-374
Number of pages	14
Journal	Journal of Economics and Business
Volume	45
Issue number	5
DOIs	https://doi.org/10.1016/0148-6195(93)90035-M
State	Published - 1 Jan 1993

ASJC Scopus subject areas

General Business, Management and Accounting
Economics and Econometrics

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10.1016/0148-6195(93)90035-M

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A taxonomy of disclosure policies

Abstract

ASJC Scopus subject areas

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