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The interrelationships between corporations' dependence on external financing, information disclosure and cost of capital

The interrelationships between corporations' dependence on external financing, information... The paper tests the relationship between corporations' dependence on external financing and their level of corporate information disclosure, and the relationship between the cost of capital and the level of corporate information disclosure in the Integrated Circuit (IC) industry in Taiwan. Using a sample of 108 companies, it is found that firms with greater external financing have more incentives to provide higher information disclosure levels. Further, an active disclosure policy would lead to a lower cost of both debt and equity capital. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Electronic Finance Inderscience Publishers

The interrelationships between corporations' dependence on external financing, information disclosure and cost of capital

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1746-0069
eISSN
1746-0077
DOI
10.1504/IJEF.2008.021801
Publisher site
See Article on Publisher Site

Abstract

The paper tests the relationship between corporations' dependence on external financing and their level of corporate information disclosure, and the relationship between the cost of capital and the level of corporate information disclosure in the Integrated Circuit (IC) industry in Taiwan. Using a sample of 108 companies, it is found that firms with greater external financing have more incentives to provide higher information disclosure levels. Further, an active disclosure policy would lead to a lower cost of both debt and equity capital.

Journal

International Journal of Electronic FinanceInderscience Publishers

Published: Jan 1, 2008

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