Jiang, Li; Kim, Jeong-Bon; Pang, Lei - In: Journal of Banking & Finance 37 (2013) 9, pp. 3562-3576
Recent research suggests that insiders’ incentives for capturing cash flows affect price formation process in which insiders are inclined to withhold good news and to accelerate the release of bad news (Jin and Myers, 2006). We investigate whether insiders’ incentives for private control...