volatility spread – around significant information events such as earnings announcements and unscheduled corporate announcements …. They conclude that option traders have an information advantage over equity traders prior to a variety of information … presentation, including the distinction between information processing and information acquisition; the volatility measures used by …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

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 …

– collectively, “disclosure processing costs” – affect investor information choices, trades, and market outcomes. The existence of … disclosure processing costs means that disclosures are not “public” information as traditionally defined, but instead can be a … form of costly private information. Conceptualizing disclosures as private information makes it clear that learning from …

, 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 …

We survey the textual sentiment literature, comparing and contrasting the various information sources, content analysis … textual sentiment impacts on individual, firm-level and market-level behavior and performance, and vice versa. We point to …

We document time varying investor sentiment for corporate social responsibility (“CSR”) performance. We show that … performance. In addition, we find that firms boost CSR performance in response to investor sentiment, and that this response is …