LocationRoom BZ E4.23, Universitätsplatz 1 - Piazza Università, 1, 39100 Bozen-Bolzano
Departments Press and Events
Contact Valerie Aloa
valerie.aloa@unibz.it
25 Oct 2018 12:30-13:30
Firm Value Effects of Targeted Disclosure Regulation
The Role of Reputational Costs
LocationRoom BZ E4.23, Universitätsplatz 1 - Piazza Università, 1, 39100 Bozen-Bolzano
Departments Press and Events
Contact Valerie Aloa
valerie.aloa@unibz.it
Regulators increasingly use disclosure requirements to change corporate behavior. Such targeted transparency regulation is intended to discourage socially undesirable behavior. This paper studies market reactions to a specific example – the SEC’s extraction payments disclosure rule that targets the oil and gas industry. We document evidence consistent with targeted transparency regulation affecting firm value by empowering advocacy groups to impose reputational costs on oil and gas firms.