Corporate Disclosure-Based Behavioral Measures of CSP
Aiming to overcome the ambiguity and inaccuracy of the survey-based subjective measures, some researchers (Bowman and Haire, 1975; Abbott and Monsen, 1979; Cowen et al., 1987; Davidson and Worell, 1990; Verschoor, 1998) turned to use behavioral measures that are based on official information disclosed by the companies themselves. Most widely used were various kinds of official information that companies are obliged to disclose under law and regulations.