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Company Transparency: Impact on the Market Value of the Company
The issue of transparency influence on company market value is explained in this paper. Transparency shows level of information disclosure. It can represent quality and quantity of published reports, strategies and business plans, press releases, other information noted on official company web site and databases. Of particular interest is dependency of market value on transparency for Russian companies, because this phenomenon has not been yet researched basing on Russian data, and Russian companies disclose information rarely. Panel regression will be applied to study this issue, using market value as dependent variable. The model shows the importance of transparency influencing market value and probably proves market participants benefit of information disclosure.