Peng Tan

Impact of Integrated Reports on Cost of Equity: Evidence From Japanese Listed Firms

This study empirically analyzes the effects of the voluntary adoption and quality of integrated reports (IRs) on the cost of equity capital in Japan. Using 514 Tokyo Stock Exchange listed firms (over 2004–2020) and employing propensity score matching, difference‐in‐differences, and fixed effects models, we find tha...