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Abstract

This paper examines the impact of competition, in a duopoly framework, on the voluntary disclosure policy of firms. Each firm is assumed to have invested in a specific product and the manager of each firm must then decide when to optimally disclose its involvement in the product to the market, while taking into consideration the disclosure strategy of the other firm. A preemption, attrition, or synergy equilibrium is found, depending on the trade-off between first and second mover advantages and, also on the advantage from simultaneous disclosure

Publication Type:	Monograph (Working Paper)
Departments:	School of Policy & Global Affairs > Economics

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