Sure, if EVF released more detailed information about Wytham Abbey, that would help people evaluate EVF a little bit, in the same way that if Apple released more detailed information about Apple Watch, that would also help shareholders evaluate Apple. It could also help bondholders, consumers, academics and policymakers make decisions. In both cases the impact is limited by the fact that the aggregate numbers are already released, so if EVF/Apple had an especially bloated cost structure on Wytham/Watch, that implies some other EVF/Apple division was extra-efficient.
I don’t know exactly how Apple is internally organized, but I strongly suspect there is an Apple-Watch-level P&L calculated for planning purposes and compensating management. I would expect Apple Watch to have more professional accounting than Wytham, and to be more able to bear the additional costs involved in publishing (bringing internal numbers up to GAAP/IFRS standards etc.).
You’re right that by publishing information Apple could help competitors, and this is a significant disincentive. It’s less clear to me however that this should be a considered a cost from a social point of view; helping competitors make decisions could help increase competition and the spread of good practices in the market.
Sure, if EVF released more detailed information about Wytham Abbey, that would help people evaluate EVF a little bit, in the same way that if Apple released more detailed information about Apple Watch, that would also help shareholders evaluate Apple. It could also help bondholders, consumers, academics and policymakers make decisions. In both cases the impact is limited by the fact that the aggregate numbers are already released, so if EVF/Apple had an especially bloated cost structure on Wytham/Watch, that implies some other EVF/Apple division was extra-efficient.
I don’t know exactly how Apple is internally organized, but I strongly suspect there is an Apple-Watch-level P&L calculated for planning purposes and compensating management. I would expect Apple Watch to have more professional accounting than Wytham, and to be more able to bear the additional costs involved in publishing (bringing internal numbers up to GAAP/IFRS standards etc.).
You’re right that by publishing information Apple could help competitors, and this is a significant disincentive. It’s less clear to me however that this should be a considered a cost from a social point of view; helping competitors make decisions could help increase competition and the spread of good practices in the market.