This paper analyses in a simple global games framework welfare effects stemming from different communication strategies of public agencies if strategies of agents are complementary to each other: communication can either be fully transparent, or the agency opaquely publishes only its overall...

Firms along the supply chain rely on both public disclosures and private information exchanges to develop forecasts about future performance. In this paper, we examine how a firm’s public and private channels of information sharing with its trading partners affect information spillovers along...

We investigate the nature and extent of information asymmetry among traders in companies with government ownership. Consistent with a less transparent information environment, we find relatively less informed trading in the shares of firms with government presence, and specifically, fewer...