BUSHMAN, ROBERT M.; SMITH, ABBIE J.; … - In: Journal of Accounting Research 48 (2010) 5, pp. 921-972
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We delineate key channels through which flows of confidential information to loan syndicate participants impact the dynamics of information arrival in prices. We isolate the timing of private information flows by estimating the speed of price discovery over quarterly earnings cycles in...