How Credit Market Conditions Impact the Effect of Voluntary Disclosure on Firms' Cost of Debt Capital
Prior literature finds that firms incur a lower cost of debt capital when they voluntarily disclose information. However, the economic literature demonstrates that creditors' lending standards become more stringent (lax) when credit is rationed (abundant) suggesting that they value voluntary d...
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | en_US |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/1969.1/ETD-TAMU-2012-08-11862 |