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dc.contributor.authorMangena, Musa*
dc.contributor.authorLi, Jing*
dc.contributor.authorTauringana, V.*
dc.date.accessioned2016-10-10T14:11:35Z
dc.date.available2016-10-10T14:11:35Z
dc.date.issued2016-01
dc.identifier.citationMangena M, Li J and Tauringana V (2016) Disentangling the Effects of Corporate Disclosure on the Cost of Equity Capital: A Study of the Role of Intellectual Capital Disclosure. Journal of Accounting, Auditing & Finance. 31(1): 3-27.en_US
dc.identifier.urihttp://hdl.handle.net/10454/9827
dc.descriptionYesen_US
dc.description.abstractIn this paper, we investigate whether intellectual capital (IC) and financial disclosures jointly affect the firm’s cost of equity capital. In contrast to prior research, we disaggregate disclosures into IC and financial disclosures and examine whether the two disclosure types are jointly related to the cost of equity capital. We also investigate whether IC and financial disclosures have an interaction effect on the cost of equity capital. Using data for a sample of 125 UK firms, we find a negative relationship between the cost of equity capital and IC disclosure. We find that the relationship between financial disclosure and the cost of equity capital is magnified when combined with IC disclosure. Additionally, we find that IC and financial disclosures interact in shaping their effects on the cost of equity capital. Further analyses suggest that the effect of financial disclosure on the cost of equity capital is augmented for firms characterised by a medium level of IC disclosure. These results provide important insights into the relationship between disclosures and cost of equity capital and have policy and practical implications.en_US
dc.language.isoenen_US
dc.relation.isreferencedbyhttp://dx.doi.org/10.1177/0148558X14541443en_US
dc.rights(c) 2016 The Authors. Full-text reproduced in accordance with the publisher's self-archiving policy.en_US
dc.subjectCost of equity capital; Intellectual capital disclosure; Financial disclosure; Disclosureen_US
dc.titleDisentangling the Effects of Corporate Disclosure on the Cost of Equity Capital: A Study of the Role of Intellectual Capital Disclosureen_US
dc.status.refereedYesen_US
dc.date.Accepted2014
dc.date.application2014-07-14
dc.typeArticleen_US
dc.type.versionAccepted Manuscripten_US
refterms.dateFOA2018-07-25T14:38:26Z


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