The effect of the COVID-19 pandemic on information disclosure: Evidence from China

Using Chinese data, this study examines the effect of the COVID-19 pandemic on the tendencies and characteristics of information disclosure, measured using management forecasts. The results show that, due to uncertainty caused by the pandemic, it is difficult to make earnings forecasts. Further, we find that, during the pandemic, forecast precision and timeliness decrease. The results remain unchanged under a difference-in-difference (DiD) model. The findings of this paper extend existing studies on the economic consequences of the COVID-19 pandemic and the influencing factors of information disclosure behaviors, providing implications for corporate managers, investors, and regulators.