Korn, Evelyn; Schiller, Ulf - In: Journal of Business Finance & Accounting 30 (2003-12) 9-10, pp. 1327-1339
The so-called disclosure principle is a 'puzzle' in the accounting literature: Game theoretic models of financial markets show that in equilibrium firms should disclose all their private information. Yet, the result is not convincing. Researchers have therefore built sophisticated models in...