This paper introduces a new information density indicator to provide a more comprehensive understanding of price … reactions to news and, more specifically, to the sources of jumps in financial markets. Our information density indicator, which …

available information. Using a database of short sales combined with a database of news releases, we show that the well … valuable trading opportunities for short sellers who are skilled information processors …

available information. Using a database of short sales combined with a database of news releases, we show that the well … valuable trading opportunities for short sellers who are skilled information processors …

available information. Using a database of short sales combined with a database of news releases, we show that the well … valuable trading opportunities for short sellers who are skilled information processors …

We show that hedge funds gain an information advantage from their prime broker banks regarding the banks' corporate … high revenue potential for prime broker banks. These informed trades appear to be based on information not just about the … analysts inside the banks are one potential conduit of information transfer …

of canonical models of gradual information diffusion and differences of opinion. I use a unique dataset of clicks on news … trading among investors who see the same news but disagree regarding its interpretation. Consistent with gradual information …

We show that aversion to risk and ambiguity leads to information inertia when investors process public news about … disappears when investors are risk neutral or the news is about idiosyncratic risk. Information inertia leads to news momentum (e …

Information production by shareholders is of fundamental importance for the efficiency of proxy voting. We propose a …

high information asymmetry. This rebalancing causes a substitution in ownership away from the investors who induce …

This paper models the interactions among technological innovation, product market competition and information leakage … technology either early on as a leader or later once stock prices reveal the value of the technology. Information leakage thus … market competition increases the option value of waiting but has an ambiguous effect on information production. It may thus …