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March 18, 2026The Accounting Review

Mandatory Versus Voluntary Disclosures: The Cases of Financial and Real Externalities.

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Authors

RDRonald A. DyeKellogg's (Canada)

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Implication

This analysis compares voluntary and mandated disclosures regarding financial externalities, suggesting improvements for policy implementation.

Key Points

  • The central aim is to compare voluntary disclosures with optimal mandated disclosures in a model of firm interactions.
  • Developed a multi-firm model considering covariances between cash flows.
  • Analyzed the relationship between externalities and disclosure preferences.
  • Investigated how shareholder risk preferences affect disclosure decisions.
  • Identified conditions where voluntary and mandatory disclosures align.
  • Demonstrated that optimal disclosure policies can reduce costs in establishing mandatory rules.
  • Showed that the nature of externalities influences the effectiveness of disclosure types.

Cite This Study

Ronald A. Dye (1990) studied this question.

synapsesocial.com/papers/69ba42ae4e9516ffd37a32dchttps://doi.org/10.2308/tar-9603274023
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1A Cost-Benefit Analysis of Mandatory and Voluntary Corporate Disclosure2024
  2. 2Unraveling the Dynamics: The Impact of Mandatory vs. Voluntary Financial Disclosure Practices on Investment Patterns2024
  3. 3Mandatory vs. voluntary disclosure of product risk information: The roles of observability, product liability, and product-risk correlation2026
  4. 4Optimal Design of Climate Disclosure Policies: Transparency versus Externality2024
  5. 5Interim Disclosure and Public Forecasts: An Economic Analysis and a Framework for Choice.1977