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Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting

โœ Scribed by Dhaliwal, Dan S.; Li, Oliver Zhen; Tsang, Albert; Yang, Yong George


Book ID
120440790
Publisher
American Accounting Association
Year
2011
Tongue
English
Weight
279 KB
Volume
86
Category
Article
ISSN
0001-4826

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We test the relation between financial and social disclosure and the cost of equity capital for a sample of Canadian firms with year-ends in 1990, 1991 and 1992. We find that, consistent with prior research, the quantity and quality of financial disclosure is negatively related to the cost of equity