portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify … conditions under which signaling at the portfolio level dominates signaling at the single asset level. In particular, when banks …

private sector, impairing the stabilizing effects of the policy. Using a theoretical model, we show that these signaling … identify fiscal news with different degrees of signaling effects and find that such effects weaken or, in extreme cases, even …

Contrary to the central prediction of signaling models, changes in profits do not empirically follow changes in … dividends. We show both theoretically and empirically that dividends signal safer, rather than higher, future profits. Using the … model's predictions, cash-flow volatility changes in the opposite direction from that of dividend changes and larger changes …

show that herding behavior plays an important signaling role in reducing opportunity costs if the auction does not receive … and highlight the controversial effects of signaling mechanisms on adverse selection in crowdfunding markets. …

studying (the pure human capital model) or whether studying has no effect on productivity (the pure signaling model). Thus … help to distinguish between human capital and signaling. However, with longitudinal data, RDD can be used to estimate the …

We analyze optimal redistribution in the presence of labor market signaling where innate productive ability is not only … unobserved by the government, but also by prospective employers. Signaling in both one and two dimensions is considered, where in … redistributing income and affecting signalling incentives is analyzed, as well as extended tax systems that combine income taxation …

; signaling …