The SEC’S MD&A: Does it Meet the Informational Demands of Investors?– A Conceptual Evaluation –
AbstractThe SEC’s Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is often claimed to provide vital “extra information” for the investment decisions of investors: information that compensates for the reporting weaknesses of financial statements. However, research on the quality of MD&A for investors is rare. In this study I conceptually evaluate whether the SEC’s requirements for MD&A disclosure do in fact provide sufficient information for investors. I use a comprehensive approach for the evaluation by analyzing the extent to which the SEC’s requirements for MD&A disclosure meet investor-oriented reporting principles and contents.
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Bibliographic InfoArticle provided by LMU Munich School of Management in its journal Schmalenbach Business Review.
Volume (Year): 59 (2007)
Issue (Month): 1 (January)
Fundamental Stock Valuation; Management Reporting; MD&A’s Quality; Investor-oriented Reporting; SEC Regulation;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
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