The impact of multi-dimensional corporate transparency on us firms’ credit ratings and cost of capital

Abstract

This study examines corporate transparency in the US market for a sample of 319 SP (ii) credit rating, cost of equity, and beta are significantly associated with intermediary information transparency; and (iii) cost of equity and beta are significantly associated with insider information transparency. Our findings offer a more comprehensive evaluation of corporate transparency than prior studies, and we demonstrate direct economic implications for both US firms and markets.