Transparency and the Equity Market

Olsson and Sievers reinvestigate how financial reporting transparency can be measured in the equity market. They team up with A03, A08, B10, and the German Business Panel in constructing an extensive dataset describing the financial reporting behavior of publicly listed firms. Using these data and exploiting market reactions around exogenous macro news events, they will identify financial reporting components that are theoretically and empirically connected to equity capital market outcomes. Based on these insights, they will revisit prior evidence on the capital markets effects of financial reporting information and explore whether refined measures of financial reporting transparency can help to improve company valuation.

    Beteiligte Institutionen

    Die Hauptstandorte vom TRR 266 sind die Universität Paderborn, die HU Berlin und die Universität Mannheim. Alle drei Standorte sind seit vielen Jahren Zentren für Rechnungswesen- und Steuerforschung. Hinzu kommen Wissenschaftler der LMU München, der Frankfurt School of Finance and Management, der WHU – Otto Beisheim School of Management, der European School of Management and Technology in Berlin und der Goethe-Universität Frankfurt, die die gleiche Forschungsagenda verfolgen.