Information Disclusure on Strategic Investments

Corporate governance is an important issue attracting both academic researchers and practitioners』 attention, particularly after recent corporate scandals of Enron, WorldCom etc. Among various corporate governance issues, this proposal focuses on the information disclosure decisions of strategic investments. Among academia and practitioners, corporate transparency is considered as an index of governance performance. However, when the investment targets are pursued for strategic goals, the cost of information disclosure should be seriously considered. Moreover, the determinants of information disclosure also reflect basic assumptions regarding interest alignment or misalignment between managers and shareholders, i.e., the stewardship or agency problems. This proposal investigate the information disclosure of listed electronics and information technology companies to examine the prior mentioned academic debate by identifying the determinants of the disclosure decisions.

Project ID:PF9701-0063
External Project ID:NSC96-2416-H182-012