Abstract
Based on the textual analysis of A-share listed non-financial 2017–2022 annual reports, this paper investigates the shareholder wealth effect of annual report disclosure transparency. It is found that the improvement of annual report disclosure transparency has a good mitigating effect on the degree of information asymmetry between the company and the market, which in turn positively affects shareholders' wealth; it is further found that the above effect is more significant in firms with higher analysts' attention and a higher proportion of institutional shareholders.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
