Il lavoro si propone di analizzare il ruolo svolto dai competitor sulle politiche comunicative delle imprese. In particolare, si concentra sulle principali forze competitive che influenzano la disclosure e sui processi imitativi (herding). Vengono considerati due particolari tipi di competitor: il leader in disclosure ed il leader in dimensione per verificare la presenza di processi di imitazione informativa e reputazionale. I principali risultati confermano le ipotesi di comportamenti imitativi intrasettoriali e evidenziano un trend di omogeneizzazione delle politiche di comunicazione.
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This paper investigates the role that competitors have on corporate disclosure policies. In particular, it is focus on the main competitive forces that influence corporate disclosure and on herding processes. In order to show the presence of informational and reputational herding processes two types of competitors are considered: the leader in disclosure and the leader in size. The main results support the hypotheses of intraindustry mimicking processes and underline a trend of homogenization of disclosure policies. Key words: corporate disclosure, competitor, informational herding, reputational herding, AIMR, disclosure channels.
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Keywords: corporate disclosure, competitor, informational herding, reputational herding, AIMR, disclosure channels
