# Information Disclosure
**Source**: https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure
**Parent**: https://bm.hkust.edu.hk/
GAO, Baojun
[WANG, Jing](https://bm.hkust.edu.hk/faculty/wang-jing-0)
DING, Xiaojie
GUO, Yue
[The Pitfalls of Soliciting Online Reviews](https://bm.hkust.edu.hk/bizinsight/2025/12/pitfalls-soliciting-online-reviews)
[Consumer Behavior](https://bm.hkust.edu.hk/bizinsight/tag/consumer-behavior)
[Online Marketing](https://bm.hkust.edu.hk/bizinsight/tag/online-marketing)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
Today’s consumers heavily rely on online peer reviews to guide their purchase decisions. Yet, review platforms and businesses alike are struggling with a shortage of online reviews and declining review length. In response, many businesses have turned to offering incentives, such as discounts or even direct payments, in exchange for (often positive) reviews
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[Read More](https://bm.hkust.edu.hk/bizinsight/2025/12/pitfalls-soliciting-online-reviews)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[ [Digital Platform: Design and Strategy](https://bm.hkust.edu.hk/bizinsight/digital-platform-design-and-strategy "Digital Platform: Design and Strategy") ]
[Read Full Paper](https://pubsonline.informs.org/doi/epdf/10.1287/mnsc.2023.01006)
[SHI, Zijun](https://bm.hkust.edu.hk/faculty/shi-zijun)
SRINIVASAN, Kannan
ZHANG, Kaifu
[Full Disclosure: Not Always the Best Option?](https://bm.hkust.edu.hk/bizinsight/2025/01/full-disclosure-not-always-best-option)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Reputation System](https://bm.hkust.edu.hk/bizinsight/tag/reputation-system)
[E-commerce](https://bm.hkust.edu.hk/bizinsight/tag/e-commerce)
In online retail marketplaces, consumers learn more about products through reviews or ratings, which can then increase their willingness to buy. HKUST’s Zijun (June) Shi and colleagues assess the optimal level of information disclosure in these reputation systems, which can reduce the information asymmetry between sellers and consumers. As the researchers
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[Read More](https://bm.hkust.edu.hk/bizinsight/2025/01/full-disclosure-not-always-best-option)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://pubsonline.informs.org/doi/epdf/10.1287/mksc.2022.1392)
[XIONG, Yan](https://bm.hkust.edu.hk/faculty/xiong-yan)
YANG, Liyan
[To conceal or disclose? The impact of secret and overt information acquisition on financial markets](https://bm.hkust.edu.hk/bizinsight/2024/08/conceal-or-disclose-impact-secret-and-overt-information-acquisition-financial)
[Privacy Issues](https://bm.hkust.edu.hk/bizinsight/tag/privacy-issues)
[Mechanism Design](https://bm.hkust.edu.hk/bizinsight/tag/mechanism-design)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
Investors seek information to guide their investment decisions and maximize their profits. These information-acquisition activities are often kept secret. However, some investors voluntarily disclose such activities, and some regulators have mandates (such as the Regulation Fair Disclosure in the U.S. and China’s Shenzhen Stock Exchange requiring the
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[Read More](https://bm.hkust.edu.hk/bizinsight/2024/08/conceal-or-disclose-impact-secret-and-overt-information-acquisition-financial)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://academic.oup.com/rfs/article/36/9/3643/7067750)
[XIONG, Yan](https://bm.hkust.edu.hk/faculty/xiong-yan)
JIANG, Xu
[Managerial Myopia: A Prisoner’s Dilemma Caused by Regulations](https://bm.hkust.edu.hk/bizinsight/2023/10/managerial-myopia-prisoners-dilemma-caused-regulations)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Marketing](https://bm.hkust.edu.hk/bizinsight/tag/marketing)
[Management Performance](https://bm.hkust.edu.hk/bizinsight/tag/management-performance)
A rule designed to protect investors may encourage managerial short-termism, to the detriment of firms. This sobering finding comes from a study led by HKUST’s Yan Xiong. According to Xiong and a U.S. colleague, the American government is tying firms’ hands with the requirement to disclose managers’ pay offers. The paper shows how managers become more myopic
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[Read More](https://bm.hkust.edu.hk/bizinsight/2023/10/managerial-myopia-prisoners-dilemma-caused-regulations)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://www.sciencedirect.com/science/article/pii/S016541012200012X)
[XIONG, Yan](https://bm.hkust.edu.hk/faculty/xiong-yan)
JIANG, Xu
[Managerial Myopia: A Prisoner’s Dilemma Caused by Regulations](https://bm.hkust.edu.hk/bizinsight/2023/10/managerial-myopia-prisoners-dilemma-caused-regulations-0)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Marketing](https://bm.hkust.edu.hk/bizinsight/tag/marketing)
[Management Performance](https://bm.hkust.edu.hk/bizinsight/tag/management-performance)
A rule designed to protect investors may encourage managerial short-termism, to the detriment of firms. This sobering finding comes from a study led by HKUST’s Yan Xiong. According to Xiong and a U.S. colleague, the American government is tying firms’ hands with the requirement to disclose managers’ pay offers. The paper shows how managers become more myopic
...
[Read More](https://bm.hkust.edu.hk/bizinsight/2023/10/managerial-myopia-prisoners-dilemma-caused-regulations-0)
[ [BizBites](https://bm.hkust.edu.hk/bizinsight/bizbites "BizBites") ]
[Watch Video](https://video.ust.hk/watch?video=6765F88D3999DE97&embed=Y)
[Read Full Paper](https://www.sciencedirect.com/science/article/pii/S016541012200012X)
LI, Frank Weikai
[MUKHERJEE, Abhiroop](https://bm.hkust.edu.hk/faculty/mukherjee-abhiroop)
SEN, Rik
[New Light on Corporate Insider Trading](https://bm.hkust.edu.hk/bizinsight/2022/12/new-light-corporate-insider-trading)
[Analyst Forecasts](https://bm.hkust.edu.hk/bizinsight/tag/analyst-forecasts)
[Information](https://bm.hkust.edu.hk/bizinsight/tag/information)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
Insider trading—buying and selling shares based on non-public information—can threaten the equilibrium of the stock market by giving some traders an advantage over others. Although the term “insider trading” often carries the implication of illegal activity, top managers can legally trade company stock if they report their trades to the authorities in a
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/12/new-light-corporate-insider-trading)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://www.sciencedirect.com/science/article/pii/S0304405X21002221?via%3Dihub=)
[HUANG, Allen](https://bm.hkust.edu.hk/faculty/huang-allen)
SHEN, Jianghua
[ZANG, Amy](https://bm.hkust.edu.hk/faculty/zang-amy)
[Risk Disclosure Law Has an Unexpected Upside](https://bm.hkust.edu.hk/bizinsight/2022/10/risk-disclosure-law-has-unexpected-upside)
[Risk Management](https://bm.hkust.edu.hk/bizinsight/tag/risk-management)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Accounting Irregularities](https://bm.hkust.edu.hk/bizinsight/tag/accounting-irregularities)
[Litigation](https://bm.hkust.edu.hk/bizinsight/tag/litigation)
Publicly-traded firms in the U.S. are legally required to disclose the material risks they face. Although the regulation was designed to protect investors, research by HKUST’s Allen H. Huang and Amy Y. Zang shows that it has unintended benefits for firms too. Working with a graduate of HKUST’s Accounting Ph.D. program, they explored how the legal language of
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/10/risk-disclosure-law-has-unexpected-upside)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://link.springer.com/article/10.1007/s11142-021-09590-z)
SAIDI, Farzad
ZALDOKAS , Alminas
[Firm Patents and Signalling Value in Loan Contracting](https://bm.hkust.edu.hk/bizinsight/2022/08/firm-patents-and-signalling-value-loan-contracting)
[Patent](https://bm.hkust.edu.hk/bizinsight/tag/patent)
[Privacy Issues](https://bm.hkust.edu.hk/bizinsight/tag/privacy-issues)
[Innovation](https://bm.hkust.edu.hk/bizinsight/tag/innovation)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Credit](https://bm.hkust.edu.hk/bizinsight/tag/credit)
Economic partnerships and other transactions have some degree of information asymmetry between the contracting parties. As such, the information environment is vital when it comes to determining relationship quality and stability. In many markets, superior private information is seen as a competitive advantage when compared to publicly available information
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/08/firm-patents-and-signalling-value-loan-contracting)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://pubsonline.informs.org/doi/epdf/10.1287/mnsc.2019.3498)
XIAO, Shihong
[CHEN, Ying-Ju](https://bm.hkust.edu.hk/faculty/chen-ying-ju)
TANG, Christopher
[Customer Clusters and Online Reviews](https://bm.hkust.edu.hk/bizinsight/2022/07/customer-clusters-and-online-reviews)
[Customer Behavior](https://bm.hkust.edu.hk/bizinsight/tag/customer-behavior)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Online Information](https://bm.hkust.edu.hk/bizinsight/tag/online-information)
[Online Marketing](https://bm.hkust.edu.hk/bizinsight/tag/online-marketing)
With a wealth of products and services at our fingertips in the modern marketplace, online reviews have become an invaluable source of information for consumers. This is especially true for “experience goods” such as a haircut or a hotel stay, whose true quality cannot be determined before purchase. Many retailers post user-generated product reviews online
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/07/customer-clusters-and-online-reviews)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://pubsonline.informs.org/doi/pdf/10.1287/mnsc.2021.4138)
ZHOU, Junjie
FAN, Xiaoshuai
[CHEN, Ying-Ju](https://bm.hkust.edu.hk/faculty/chen-ying-ju)
TANG, Christopher
[Developing Policies to Benefit Farmers](https://bm.hkust.edu.hk/bizinsight/2022/06/developing-policies-benefit-farmers)
[Emerging Market](https://bm.hkust.edu.hk/bizinsight/tag/emerging-market)
[Operations Management](https://bm.hkust.edu.hk/bizinsight/tag/operations-management)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
Deciding how much to grow can be difficult for farmers in developing countries, who largely operate without crucial market information. Governments and non-governmental organizations (NGOs) are attempting to address this knowledge gap, but how widely should they deliver such information to the maximum benefit of farmers? Is wider information distribution
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/06/developing-policies-benefit-farmers)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://pubsonline.informs.org/doi/epdf/10.1287/msom.2019.0831)
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