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Beaver (1973), Healy and Palepu (1993), Lev (1998), and Watts (1977) each discuss the nature of the capital market and stakeholders relevant to the firm

Beaver (1973), Healy and Palepu (1993), Lev (1998), and Watts (1977) each discuss the nature of the capital market and stakeholders relevant to the firm in conjunction with different approaches to financial reporting disclosures. Assuming security prices reflect all public information shortly after it becomes public, is there a benefit to investors and creditors of adding to regulated accounting information? If so, how can standard setting agencies address that benefit, given the costs of the actions taken?

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