In this study we use an experiment to examine whether home bias is caused, at least in part, by a psychological bias that can be reduced by highlighting concrete language in disclosures. Our results show that, when abstract language is highlighted in a prospectus, prospective investors are...

Technological advances are creating a shift in the information disclosure environment allowing more investors to interact with management. We examine three key levels of trader-management interaction to assess the accuracy of traders' market-tested value estimates and resulting market price....

Technological advances are creating a shift in the information disclosure environment allowing more investors to interact with management. We examine three key levels of trader-management interaction to assess the accuracy of traders' market-tested value estimates and resulting market price....