Information disclosure and firm value : empirical evidence for MILA
Fecha
2020
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Universidad EAFIT
Resumen
Information disclosure is an important aspect of a company’s governance policy, affecting investor’s decision-making and firm value. The purpose of this study is to estimate the effect of information disclosed on firm value for firms in the Integrated Latin American Market (MILA) countries over the period 2011-2017. We use Structural Equations Modelling (SEM), where our latent variable “Disclosure Quality” is measured using five textualanalysisvariablesasindicators. Wefindapositiveandstatisticallysignificanteffect of “Disclosure Quality” on Firm Value.
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Divulgación de la información, Valor de la empresa