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portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify … conditions under which signaling at the portfolio level dominates signaling at the single asset level. In particular, when banks …
Persistent link: https://www.econbiz.de/10011610925
Prices play a key informational role in markets by revealing the private information of a diverse set of participants. But can professional traders accurately decipher these price signals? Can these professionals separate out the signal (the information on fundamentals) from the noise (erroneous...
Persistent link: https://www.econbiz.de/10013238276
greater information uncertainty (lower quality accruals). After controlling for future earnings changes, I further find that … that, in addition to signaling future earnings information, Form 4 purchase filings help investors learn about the …
Persistent link: https://www.econbiz.de/10013115729
direct property performance. Further tests for the signaling model's preconditioned presence of information asymmetry among …
Persistent link: https://www.econbiz.de/10013127533
This paper explores how ambiguous signals and ambiguity aversion influence individuals' expectations and the pricing of asset in experimental financial markets. In line with the theory of Epstein and Schneider (2008) we find that subjects' degree of ambiguity aversion is positively correlated...
Persistent link: https://www.econbiz.de/10012835148
portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify … conditions under which signaling at the portfolio level dominates signaling at the single asset level. In particular, when banks …
Persistent link: https://www.econbiz.de/10012960474
mechanisms such as mandatory continuation votes serve as costly signals of information to reveal higher fund quality to investors …
Persistent link: https://www.econbiz.de/10014234466
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