The performance of analysts’ forecasts has attracted increasing attention in recent years. However, as yet, no …

valuation implications of reported earnings. Defining information uncertainty as ambiguity about firm value arising from low … greater information uncertainty (lower quality accruals). After controlling for future earnings changes, I further find that … increasing in the magnitude of insider purchases as well as the level of information uncertainty. Overall, these findings suggest …

We document that textual discussions in a sample of 363,952 analyst reports provide information to investors beyond … concisely, and when the perceived validity of other information signals in the same report is low. Finally, analyst report text …

display prospect theory-inspired preferences and who can acquire private information about a public announcement prior to its … release. Private information acquisition decreases the market response to the public announcement, as trading on this … information increases the informativeness of prices prior to the announcement. Increasing loss-aversion increases the market …

to bid prices higher even if new information warrants it. We show that managers can deal with the distorted price problem … using stock splits, which call attention and induce brokerage houses to produce more information regarding the firms …. Furthermore, consistent with our argument, we find that the firms' likelihood of engaging stock splits increases with CEO wealth-performance …

We evaluate the impact of complexity and content of new information on stock return volatility dynamics around 10-K … of complexity and content of new information on asset prices …

, when inside firm owners make it easier for outside investors to obtain inexpensive biased information from the manager …

of security issuer fundamental performance over time. Distinctive signaling sources on this performance correspond to … institutional mechanisms of information diffusion. These sources differ by duration effect (temporary, persistent, and permanent …, implying efficient pricing. By relaxing these quite heroic conditions, we assess the impact of distinctive information sources …

information regarding the timing of security offerings around information disclosures. We analyze loan originations and bond … find a positive association between the information sensitivity of securities and the likelihood of their issuance after … attributable partly to potential costs associated with the omission of material negative information, such as litigation risk …

preannouncement returns. Results suggest informed trading by option traders stimulates preemption of the information content of …