The Influence of E-Disclosure on the Ex-Ante Cost of Capital of Listed Companies in Brazil
Author | : Wesley Mendes-Da-Silva |
Publisher | : |
Total Pages | : |
Release | : 2014 |
ISBN-10 | : OCLC:1308846241 |
ISBN-13 | : |
Rating | : 4/5 (41 Downloads) |
Download or read book The Influence of E-Disclosure on the Ex-Ante Cost of Capital of Listed Companies in Brazil written by Wesley Mendes-Da-Silva and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this article is to show the existence of a relationship between voluntary disclosure via corporate websites and the ex-ante cost of capital of companies listed on the BM&FBovespa. Ordinary Least-Squares regression equations produced the following results: (a) on average, the companies listed on the New Market showed a lower cost of capital (≈3.3 percentage points lower); (b) on average, the companies deemed to be the most aggressive showed a higher cost of capital (≈3 percentage points higher than the conservative companies); and (c) the metrics of corporate website disclosure did not appear to be related to cost of capital.