Title
Web-based non-financial disclosure and cost of finance Web-based non-financial disclosure and cost of finance
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Oxford ,
Subject
Economics
Source (journal)
Journal of business finance & accounting. - Oxford
Volume/pages
37(2010) :9/10 , p. 1057-1093
ISSN
0306-686X
1468-5957
ISI
000285767300002
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Abstract:  We study the association of Web‐based non‐financial disclosure and a firm's cost of finance within an international context (North America and Continental Europe). We examine voluntary Web placement of non‐financial disclosures using an information index covering a firm's value creation process. We find a negative association between the level of Web‐based non‐financial disclosure and the implied cost of equity capital in North America and in Continental Europe. Continental European firms with higher levels of Web‐based non‐financial disclosure also tend to benefit from a lower information asymmetry and from a lower cost of debt capital, whereas North American firms do no
E-info
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