Holden, Craig W.; Stuerke, Pamela S. - In: Journal of Business Finance & Accounting 35 (2008-09) 7-8, pp. 860-888
A fundamental property of a financial market is its degree of price informativeness. A major determinant of price informativeness is predisclosure information collected by financial analysts and then privately disseminated to clients, who make the recommended trades. We develop a dynamic model...