?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fpublications.ut-capitole.fr%2Fid%2Feprint%2F22451%2F&rft.title=Mandatory+disclosure%3A+Theory+and+evidence+from+industry-physician+relationships&rft.creator=Chen%2C+Daniel+L.&rft.creator=Levonyan%2C+Vardges&rft.creator=Reinhart%2C+Eric&rft.creator=Taksler%2C+Glen&rft.subject=B-+ECONOMIE+ET+FINANCE&rft.description=We+present+and+test+a+model+of+mandatory+disclosure.+The+effects+of+disclosure+laws+on+what+is+being+disclosed+are+typically+unknown+since+data+on+disclosed+activity+rarely+exist+in+the+absence+of+disclosure+laws.+We+exploit+data+from+legal+settlements+disclosing+%24316+million+in+pharmaceutical+company+payments+to+316%2C622+physicians+across+the+U.S.+from+2009-2011.+States+were+classified+as+having+strong%2C+weak%2C+or+no+disclosure+based+on+whether+the+data+was+reported+only+to+state+authorities+(weak)+or+were+publicly+available+(strong).+Strong+disclosure+law+was+associated+with+reduced+payments+among+doctors+accepting+less+than+%24100+and+increased+payments+among+doctors+accepting+greater+than+%24100.+Weak+disclosure+states%2C+despite+imposing+administrative+compliance+costs+to+industry%2C+were+indistinguishable+from+no+disclosure+states.+This+result+suggests+that+the+mechanism+for+fewer+small+payments+in+strong+disclosure+states+was+physicians%E2%80%99+reduced+willingness+to+accept+payments+rather+than+the+imposition+of+significant+administrative+costs+on+industry.+We+conduct+additional+analysis+holding+fixed+the+cost+for+pharmaceutical+companies+of+disclosing+data%2C+which+was+possible+because+Massachusetts+began+releasing+payment+data+online+during+our+sample+period.+Differences-in-differences+analyses+and+multiple+regression+yield+similar+estimates+for+each+payment+category%3A+Mandatory+disclosure+reduced+payments+for+speaking+and+for+meals+but+increased+payments+for+consulting+activities.+Significant+disclosure+aversion+reducing+conflicts+of+interest+is+consistent+with+the+policy+goals+of+mandatory+disclosure%2C+though+the+increased+payments+among+those+receiving+large+payments+may+have+been+unintended.&rft.publisher=TSE+Working+Paper&rft.date=2016-10&rft.type=Monograph&rft.type=NonPeerReviewed&rft.identifier=++Chen%2C+Daniel+L.+%3Chttps%3A%2F%2Fwww.idref.fr%2F241586631%3E%2C+Levonyan%2C+Vardges%2C+Reinhart%2C+Eric+and+Taksler%2C+Glen++(2016)+Mandatory+disclosure%3A+Theory+and+evidence+from+industry-physician+relationships.++TSE+Working+Paper%2C+n.+16-716+++++&rft.relation=http%3A%2F%2Ftse-fr.eu%2Fpub%2F31115&rft.language=en