IDEAS home Printed from https://ideas.repec.org/a/bla/jbfnac/v24y1997i9-10p1421-1431.html
   My bibliography  Save this article

Information Disclosure to Employees and Rational Expectations: A Game‐Theoretical Perspective

Author

Listed:
  • Pascal, Martin Frantz Walker

Abstract

This paper analyses the voluntary disclosure strategies of a privately informed firm manager when the information is relevant to both a financial market for valuation purposes and a union for wage bargaining purposes. Disclosure of favourable information may adversely affect the terms under which the firm can secure the required flow of labour and may thus lead to a decrease in the firm's market value. The paper shows that both a full‐disclosure and a nondisclosure equilibrium may exist, which contradicts an earlier analysis of the issue made by Pope and Peel (1981).

Suggested Citation

  • Pascal, Martin Frantz Walker, 1997. "Information Disclosure to Employees and Rational Expectations: A Game‐Theoretical Perspective," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 24(9‐10), pages 1421-1431, October.
    • Handle: RePEc:bla:jbfnac:v:24:y:1997:i:9-10:p:1421-1431
    DOI: 10.1111/1468-5957.t01-1-00171
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-5957.t01-1-00171
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1468-5957.t01-1-00171?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Florence Depoers, 1999. "Le Profil Des Societes Qui Diffusent Volontairement De L'Information," Post-Print halshs-00587741, HAL.
    2. Alfred Wagenhofer, 2000. "Disclosure of proprietary information in the course of an acquisition," Accounting and Business Research, Taylor & Francis Journals, vol. 31(1), pages 57-69.
    3. Pascal Frantz & Norvald Instefjord, 2006. "Voluntary Disclosure of Information in a Setting in which Endowment of Information has Productive Value," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(5‐6), pages 793-815, June.
    4. Florence Depoers, 2000. "A cost benefit study of voluntary disclosure: some empirical evidence from French listed companies," European Accounting Review, Taylor & Francis Journals, vol. 9(2), pages 245-263.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jbfnac:v:24:y:1997:i:9-10:p:1421-1431. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0306-686X .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.