A Model of Two-Tiered Financial Reporting
构建了一个双层财务报告模型，分析SEC和FASB面临的信息过载问题，探讨通过简化年度报告来改善投资者信息处理的可行性。
The Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) have come under increasing pressure to address public concerns regarding the effectiveness of financial disclosures.1 The SEC issued for public comment a proposal that would allow companies to use a form of two-tiered financial reporting (SEC [1995]). Two-tiered reporting involves producing a reduced-form annual report by abbreviating and perhaps recasting the complete financial statements prepared under Generally Accepted Accounting Principles. Much of the public support for two-tiered reporting revolves around the idea that the current disclosure regime creates an information overload problem for at least some investor groups (e.g., FASB [1995], Groves [1995], and Cook and Sutton [1995] ).2 Proponents of two-tiered