BALAKRISHNAN, KARTHIK; BILLINGS, MARY BROOKE; KELLY, BRYAN - In: Journal of Finance 69 (2014) 5, pp. 2237-2278
type="main" <title type="main">ABSTRACT</title> <p>Can managers influence the liquidity of their firms’ shares? We use plausibly exogenous variation in the supply of public information to show that firms actively shape their information environments by voluntarily disclosing more information than regulations mandate and...</p>