The Nature of the Interaction between Mandatory and Voluntary Disclosures
展示了企业强制披露如何影响其自愿披露策略，并分析了自愿披露倾向与强制披露环境及监管特征的关系，以聚合与分解披露的选择为例说明模型适用性。
This paper demonstrates the crucial role that firms' mandatory disclosures play in determining their voluntary disclosure strategies. It also shows how a firm's propensity for providing voluntary disclosures relates to various features of the mandatory disclosure environment and disclosure regulation. The special case of choosing between aggregated and disaggregated disclosures serves as an illustration of the model's applicability.