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Credit ratings and corporate disclosure behaviour: evidence from regulation fair disclosure in Korea

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  • Frederick Dongchuhl Oh
  • Junghum Park

Abstract

This article provides evidence that firms with high market expectations disclose more information to investors, utilizing the fair disclosure regulation in Korea to proxy for their disclosure choices. This finding is consistent with the argument that in order to retain their dominant positions, highly evaluated firms are more concerned about the market’s perception of them as providers of timely and detailed disclosure. We also find that the impact of market expectations on disclosure is more pronounced for chaebol firms. Combined with prior research on the relationship between firm performance and voluntary disclosure, we provide important implications for the determinants of corporate disclosure

Suggested Citation

  • Frederick Dongchuhl Oh & Junghum Park, 2017. "Credit ratings and corporate disclosure behaviour: evidence from regulation fair disclosure in Korea," Applied Economics, Taylor & Francis Journals, vol. 49(35), pages 3481-3494, July.
    • Handle: RePEc:taf:applec:v:49:y:2017:i:35:p:3481-3494
    DOI: 10.1080/00036846.2016.1262521
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    Cited by:

    1. Grassa, Rihab & Moumen, Nejia & Hussainey, Khaled, 2020. "Is bank creditworthiness associated with risk disclosure behavior? Evidence from Islamic and conventional banks in emerging countries," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
    2. Ho, Kung-Cheng & Yang, Lu & Luo, Sijia, 2022. "Information disclosure ratings and continuing overreaction: Evidence from the Chinese capital market," Journal of Business Research, Elsevier, vol. 140(C), pages 638-656.

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