Voluntary Disclosure: Yes or No? BankAmerica's Story

O'Rourke, John J.
June 1979
Directors & Boards;Summer79, Vol. 4 Issue 2, p6
Trade Publication
The article discusses the pros and cons of corporate disclosure based on BankAmerica's Voluntary Disclosure Code of 1978. Among the dangers cited in a voluntary disclosure code are misinterpretation and misinformation, invasion of privacy and betrayal of confidentiality and escalation of costs. On the other hand, the benefits include protection against targeting by competitors, deflection of government regulation and increased public confidence. The article also notes the role of board of directors and the flexible nature of any disclosure policy.


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