Prof. Hill's Paper on Disclosure Featured on Harvard Corporate Governance Blog

Professor Claire Hill's paper with Professor Steven Davidoff, "Limits of Disclosure," was cited in the Harvard Law School Forum on Corporate Governance and Financial Regulation blog. The paper argues that disclosure is overemphasized as a solution to securities market problems. The rationales underlying disclosure are less sound than is generally thought. Disclosure solutions are nevertheless developed and argued for, in significant part because they fulfill the need to "do something" in response to a perceived problem, and because they let people believe that better disclosure might have prevented, and could in the future prevent, bad decisions.