Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock
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This paper examines the link between disclosure and the cost of capital. We exploit an exogenous cost of capital shock created by the Enron scandal in Fall 2001 and analyze firms' disclosure responses to this shock. These tests are opposite to the typical research design that analyzes cost of
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美国国家经济研究局创建时间：
2009-04-01
