As a first robustness check, we analyze the incremental effect of strategy disclosure beyond sheer disclosure quantity, proxied either by the page count of management reports or by a disclosure metric comprising all non-strategic disclosures.
We are also able to provide evidence that the cost of capital effect of voluntary strategy disclosure is incremental and not just a spurious correlation without economic substance, e.g., simply resulting from overall disclosure quality.
We also show that the SDS have an incremental effect beyond overall disclosure quantity in the financial reporting package.
These studies also suggest that HIV-positive individuals often pursue strategies of incremental, partial or indirect disclosure, which in some cases allow their partners to disclose first [ 27- 29].
A further analysis also indicates the incremental information content of strategy disclosures (Biddle et al. 1995), compared to other parts of the financial reporting package.
However, where the inventor is considering further incremental inventions in the field, extensive disclosure could make patenting such potential inventions more difficult.
Richardson and Welker (2001) analyze the incremental cost of equity capital effects of voluntary social disclosures and find a positive relationship, even though financially successful firms seem to be penalized less for social disclosures.
Anton and Yao (2004), for example, indicated that when property rights are weak, disclosure incentives are relatively stronger, in particular for nondrastic (e.g. incremental) innovations.
Although state and federal regulators, along with industry groups, have been working to improve disclosures for consumers about how mobile apps collect and use their data, progress has been incremental.
Do it slowly: incremental reductions, incremental targets".
