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Journal articles (2007), Review of Accounting and Finance, pp. 131-149

Levels of Voluntary Disclosure in IPO Prospectuses: An Empirical Analysis

JENY Anne, JEANJEAN Thomas

This paper focuses on how forecasts information is disclosed in IPO prospectuses. We investigate the determinants and consequences of the varying levels of detail provided in these forecasts. Based on a sample of 82 IPOs on the Euronext Paris market (2000-2002), we show that only two variables are associated with highly detailed forecast disclosures: forecast horizon and firm age. We also find that the forecast error decreases as the level of detail in the forecast disclosures increases.

JENY, A. and JEANJEAN, T. (2007). Levels of Voluntary Disclosure in IPO Prospectuses: An Empirical Analysis. Review of Accounting and Finance, pp. 131-149.

Keywords : #Erreur-de-Prévision, #Introduction-en-bourse, #Publication-volontaire