The Influence of E-Disclosure on the Ex-Ante Cost of Capital of Listed Companies in Brazil

Download or read book The Influence of E-Disclosure on the Ex-Ante Cost of Capital of Listed Companies in Brazil written by Wesley Mendes-Da-Silva and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this article is to show the existence of a relationship between voluntary disclosure via corporate websites and the ex-ante cost of capital of companies listed on the BM&FBovespa. Ordinary Least-Squares regression equations produced the following results: (a) on average, the companies listed on the New Market showed a lower cost of capital (≈3.3 percentage points lower); (b) on average, the companies deemed to be the most aggressive showed a higher cost of capital (≈3 percentage points higher than the conservative companies); and (c) the metrics of corporate website disclosure did not appear to be related to cost of capital.