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Corporate Voluntary Disclosure: Empirical Evidence from Italy and the United States

In recent years dissatisfaction with mandatory financial reporting has led investors, financial markets and other key stakeholder to demand from companies to voluntarily provide more comprehensive information about their long-term strategies and performance. The dissatisfaction with the quality and effectiveness of financial reporting has also received world wide attention from academicians (Bozzolan et al., 2003; Chen andJaggi, 2000; Eng and Mak, 2003; Eng and Teo, 1999; Francis and Shipper, 1999; Hook et al., 2002; Leuz and Verrecchia, 2000; Lev and Zarowin, 1999; Meek, et al., 1995) and regulatory and professional bodies (ACCA, 1999; Ernst and Young, 1999; ISEA, 1999; OECD, 2001; Price ...

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