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Economic policy uncertainty, investor sentiment, and voluntary disclosure on internet platform

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  • Meng Wang
  • Wanlong Zhao
  • Lei Yin

Abstract

Based on the quarterly data of listed companies on the ‘hudongyi’ Internet platform of the Shenzhen Stock Exchange from 2011 to 2018, this study uses the economic policy uncertainty (EPU) index to explore the impact of EPU on voluntary disclosure. We find that EPU is positively correlated with the timeliness and sufficiency of voluntary disclosure. Moreover, investor sentiment plays a mediation role between economic policy uncertainty and voluntary disclosure. Furthermore, for state-owned, high bankruptcy risk, and low growth firms, the positive effect of EPU on the timeliness and sufficiency of voluntary disclosure becomes larger.

Suggested Citation

  • Meng Wang & Wanlong Zhao & Lei Yin, 2022. "Economic policy uncertainty, investor sentiment, and voluntary disclosure on internet platform," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 29(4), pages 896-915, July.
    • Handle: RePEc:taf:raaexx:v:29:y:2022:i:4:p:896-915
    DOI: 10.1080/16081625.2020.1808799
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    Cited by:

    1. Jianjia He & Danyuan Wang, 2023. "Impact of Economic Policy Uncertainty on Industrial Convergence: Evidence from China," Sustainability, MDPI, vol. 15(13), pages 1-15, June.

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