The Impact Of Narrative Disclosure Readability On Bond Ratings And The Cost Of Debt. We find that less readable financial disclosures are associated with less favorable ratings, greater bond rating agency disagreement, and a higher cost of debt. Evidence from moody׳ s and s&p׳ s initial adoptions.
Dla mediów | Kobiety na wybory! from i.ebayimg.com Companies that provide financial information compile data on the financial strength of the bond they look at the issuer's outstanding debt and growth rate. Similar to the bond ratings information, the current and historical price data for stocks is easily accessible. Management forecasts and the cost of equity capital:
This study examines the impact of financial disclosure narrative on bond market outcomes.
Collectively, our evidence suggests that textual financial disclosure attributes appear to not only influence bond market intermediaries' opinions, but also firms' cost of debt capital. This paper investigates the impact of annual report readability on the corporate bond market. Management forecasts and the cost of equity capital: In the current study, we examine the impact that corporate social responsibility (csr) disclosure has on the cost of debt for small firms.
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