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Human capital disclosures and institutional ownership

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  • Thompson, Linh

Abstract

We examine the effects of human capital disclosures on ownership structure. Firms which are highly intangible experienced an increase in institutional ownership concentration subsequent to the introduction of human capital disclosure rule. Using a differences-in-differences empirical design, we document that these firms also engaged in more earnings management. Collectively, these findings highlight the role of information disclosures in shaping ownership structure and corporate behaviors.

Suggested Citation

  • Thompson, Linh, 2025. "Human capital disclosures and institutional ownership," Finance Research Letters, Elsevier, vol. 71(C).
    • Handle: RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324014132
    DOI: 10.1016/j.frl.2024.106384
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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