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buildings were observed before, in-between and after two consecutive law changes that first made certification compulsory and … effect of certification. Supplementary analysis suggests that consumers do value energy efficiency per se, and that energy … which certification of buildings affects energy consumption. One implication from theory is that compulsory certification is …
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We present evidence of investors underreacting to the absence of events in financial markets. Routine-based insiders strategically choose to be silent when they possess private information not yet reflected in stock prices. Consistent with our hypothesis, insider silence following routine sell...
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Informationen sind für den Anleger im Aktienmarkt überwiegend schädlich, insbesondere, wenn es sich dabei um öffentliche, also beispielsweise um Jahresabschluß-Informationen handelt. Dies ist das Ergebnis einer informationsökonomischen Beschäftigung mit der Frage, welchen Nutzen dem...
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