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Guiding the guiders: Foundations of a market-driven theory of disclosure

Author

Listed:
  • M. Gietzmann
  • A. J. Ostaszewski
  • M. H. G. Schroder

Abstract

A foundational approach is developed for a mathematical theory of managerial disclosure in relation to asset pricing; this involves both the earnings guidance disclosed by firm management and market `trackers' pricing the firm's exposure to quotable risks.

Suggested Citation

  • M. Gietzmann & A. J. Ostaszewski & M. H. G. Schroder, 2020. "Guiding the guiders: Foundations of a market-driven theory of disclosure," Papers 2002.04886, arXiv.org.
    • Handle: RePEc:arx:papers:2002.04886
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    File URL: http://arxiv.org/pdf/2002.04886
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    References listed on IDEAS

    as
    1. Dye, Ra, 1985. "Disclosure Of Nonproprietary Information," Journal of Accounting Research, Wiley Blackwell, vol. 23(1), pages 123-145.
    2. Eti Einhorn & Amir Ziv, 2008. "Intertemporal Dynamics of Corporate Voluntary Disclosures," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 567-589, June.
    3. Baiman, S & Demski, Js, 1980. "Economically Optimal Performance Evaluation And Control-Systems," Journal of Accounting Research, Wiley Blackwell, vol. 18, pages 184-220.
    4. Miles B. Gietzmann & Adam J. Ostaszewski, 2016. "The Sound of Silence: equilibrium filtering and optimal censoring in financial markets," Papers 1606.04039, arXiv.org.
    5. Bozanic, Zahn & Roulstone, Darren T. & Van Buskirk, Andrew, 2018. "Management earnings forecasts and other forward-looking statements," Journal of Accounting and Economics, Elsevier, vol. 65(1), pages 1-20.
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    Cited by:

    1. Miles B. Gietzmann & Adam J. Ostaszewski, 2022. "The Kind of Silence: Managing a Reputation for Voluntary Disclosure in Financial Markets," Papers 2210.11315, arXiv.org, revised Mar 2023.

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