Dissertations, Theses, and Capstone Projects
Date of Degree
9-2022
Document Type
Dissertation
Degree Name
Ph.D.
Program
Business
Advisor
Kalin Kolev
Committee Members
Carol Marquardt
Donal Byard
Monica Neamtiu
Karl Lang
Subject Categories
Accounting
Keywords
Conflict Minerals; Disclosures; Regulation; Supply Chain; Investment Efficiency
Abstract
I examine the effects of mandatory disclosures on firms’ investment efficiency using the conflict minerals disclosure requirement of the Dodd–Frank Act of 2010. I find that firms’ investment efficiency improves following the adoption of the regulation. I then examine whether this improvement in investment efficiency is due to the regulation forcing managers to acquire new information and I document two important findings. First, I find that firms with a better internal information environment are more likely to experience improved investment efficiency. Second, I find that firms manage raw materials more efficiently and make changes to their supply chains after disclosing conflict minerals information. Overall, this paper provides evidence that managers can learn new information by complying with disclosure requirements and hence make better investment decisions.
Recommended Citation
Dong, Ge, "Mandatory Disclosures and Investment Efficiency: Evidence from the Conflict Minerals Disclosure Requirement" (2022). CUNY Academic Works.
https://academicworks.cuny.edu/gc_etds/4957
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