Lin, Chunmei; Massa, Massimo; Zhang, Hong - 2014
to increase their use of semi-public information. Utilizing data from international mutual funds and stocks over the 2000 …-2009 period, we find that semi-public information-related stock rebalancing can be five times higher in countries with the worst … quality of governance than in countries with the best. The use of semi-public information increases price informativeness but …