The Economic Consequences of Increasing the International Visibility of Financial Reports

  • Michael H. R. Erkens


Attracting investors’ attention is a challenge for listed firms. Prior research finds that certain characteristics (size, liquidity, cross-listing) are associated with firm visibility (see, e.g., Baker et al. 2002; Bushee and Miller 2012). Firms lacking these characteristics are often neglected by investors and intermediaries. Prior research (Bushee and Miller 2012) also suggests that voluntary disclosure can improve analyst and investor following, and ultimately reduce the cost of capital.


Propensity Score Annual Report Information Asymmetry Propensity Score Match International Financial Reporting Standard 
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Copyright information

© Springer Fachmedien Wiesbaden 2016

Authors and Affiliations

  1. 1.Department of Business EconomicsErasmus School of EconomicsRotterdamThe Netherlands

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