Preface Acknowledgments Section I: The drivers 1. The demand for disclosure 2. Information crimes 3. The pursuit of efficiency Section II: Go figure 4. The earnings game 5. Playing with numbers Section III: Communicating 6. Unofficial channels 7. What retail investors know Section IV: Principles matter 8. Keeping the directors honest 9. Green is good 10. Regulating disclosure practice Section V: The evidence 11. What difference does disclosure make? 12. Hope, fear and relative value Section VI: Directions 13. Defensive communications 14. Power and governance Appendix Best practice guidelines for communication between listed entities and the investment community Notes Index