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Essay on the Theory of Disclosure

Author

Listed:
  • Bruno Meirelles Salotti

    (University of São Paulo)

  • Marina Mitiyo Yamamoto

    (University of São Paulo)

Abstract

The present essay is based on the paper by Verrecchia (2001) and seeks to present and discuss the analytical models developed from the theory of disclosure. Initially, research on this subject is classified into three categories: based on association, discretion and efficiency. Mathematical relations are shown for each category seeking to represent the disclosure phenomenon and the variables related to it. Besides this, game theory is presented as another possible approach to model the disclosure process. It is hoped that such models will serve as a theoretical base to develop hypotheses and conduct further research for empirical verification of these hypotheses, and consequently, based on such evidence, to improve the models to better represent the reality of the disclosure process.

Suggested Citation

  • Bruno Meirelles Salotti & Marina Mitiyo Yamamoto, 2005. "Essay on the Theory of Disclosure," Brazilian Business Review, Fucape Business School, vol. 2(1), pages 52-68, January.
    • Handle: RePEc:bbz:fcpbbr:v:2:y:2005:i:1:p:52-68
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    References listed on IDEAS

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    1. Evelyn Korn & Ulf Schiller, 2003. "Voluntary Disclosure of Nonproprietary Information: A Complete Equilibrium Characterization," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(9-10), pages 1327-1339.
    2. Dye, Ra, 1985. "Disclosure Of Nonproprietary Information," Journal of Accounting Research, Wiley Blackwell, vol. 23(1), pages 123-145.
    3. Evelyn Korn & Ulf Schiller, 2003. "Voluntary Disclosure of Nonproprietary Information: A Complete Equilibrium Characterization," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(9‐10), pages 1327-1339, December.
    4. Dye, Ronald A., 2001. "An evaluation of "essays on disclosure" and the disclosure literature in accounting," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 181-235, December.
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