abstract
The corporate information environment develops endogenously as a consequence of
information asymmetries and agency problems between investors, entrepreneurs,
and managers. We review current research on the three main decisions that shape the
corporate information environment in capital market settings: (1) managers’ voluntary
disclosure decisions, (2) disclosures mandated by regulators, and (3) reporting decisions
by analysts. We conclude that, in the last ten years, research has generated several useful
insights. Despite this progress, we call for researchers to consider interdependencies
between the various decisions that shape the corporate information environment and
suggest new and interesting issues for researchers to address