Disclosure practices and firm value: A quantile regression analysis of firms listed on the Nairobi Securities Exchange
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Organización Internacional del Trabajo (OIT)
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| Formato: | Artículo científico |
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International Labour Organization
2017
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| _version_ | 1874525222581829634 |
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| author | E.M Nkatha D. Musyoki K.C. Shawa |
| author_facet | E.M Nkatha D. Musyoki K.C. Shawa E.M Nkatha D. Musyoki K.C. Shawa |
| contents | Disclosure practices and firm value: A quantile regression analysis of firms listed on the Nairobi Securities Exchange E.M Nkatha D. Musyoki K.C. Shawa Existing empirical evidence on the relation between disclosure practices and firm value is inconsistent. The overall objective of this paper is to investigate the relationship between firm value and disclosure practices among firms listed at the Nairobi Securities Exchange (NSE). Data was collected from 39 listed firms that had complete data from 2003 to 2013. A quantile regression approach was adopted to provide more reliable findings compared to those from past studies based on Ordinary Least Squares (OLS). The empirical results reveal a negative relationship between disclosure practices and firm value across all quantile of the firm value distribution. Furthermore, the results indicate that OLS overestimates and underestimates the effects of disclosure practices on the firm value at different quantile of the firm value distribution. publication.journalArticle |
| format | Artículo científico |
| id | ilo_995269242402676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2017 |
| publisher | International Labour Organization |
| spellingShingle | Disclosure practices and firm value: A quantile regression analysis of firms listed on the Nairobi Securities Exchange E.M Nkatha D. Musyoki K.C. Shawa Disclosure practices and firm value: A quantile regression analysis of firms listed on the Nairobi Securities Exchange E.M Nkatha D. Musyoki K.C. Shawa Existing empirical evidence on the relation between disclosure practices and firm value is inconsistent. The overall objective of this paper is to investigate the relationship between firm value and disclosure practices among firms listed at the Nairobi Securities Exchange (NSE). Data was collected from 39 listed firms that had complete data from 2003 to 2013. A quantile regression approach was adopted to provide more reliable findings compared to those from past studies based on Ordinary Least Squares (OLS). The empirical results reveal a negative relationship between disclosure practices and firm value across all quantile of the firm value distribution. Furthermore, the results indicate that OLS overestimates and underestimates the effects of disclosure practices on the firm value at different quantile of the firm value distribution. publication.journalArticle |
| title | Disclosure practices and firm value: A quantile regression analysis of firms listed on the Nairobi Securities Exchange |
| url | https://researchrepository.ilo.org/esploro/outputs/journalArticle/Disclosure-practices-and-firm-value-A/995269242402676 |