We exploit exogenous variation in the amount of public information available to banks about a firm to empirically …) reduced the amount of public information available to Pakistani banks about a firm's creditworthiness. Prior to 2006, the SBP … published credit information not only about the firm in question but also (aggregate) credit information about the firm's group …

We consider a multi-period rational expectations model in which risk-averse investors differ in their information on … expected utility than outsiders. Yet, information acquisition by one investor exerts a negative externality on other investors …. Thus, investors' average welfare is maximal when access to price information is rationed. We show that a market for price …

We consider a multi-period rational expectations model in which risk-averse investors differ in their information on … expected utility than outsiders. Yet, information acquisition by one investor exerts a negative externality on other investors …. Thus, investors’ average welfare is maximal when access to price information is rationed. We show that a market for price …

Purpose – The purpose of this paper is to examine the implications of overconfidence for information acquisition and … and rational traders endogenously acquiring costly differential information. Findings – The paper shows that overconfident … traders acquire more information than do rational traders, and improve market informational efficiency by making price more …

According to the news model of asset price determination, only the unexpected component of an information should drive … price. To disentangle gross news from net news, betting odd information is used to control for the expected match outcome. …

The information produced by sophisticated investors in the stock market may be useful for uninformed depositors. Since … much information is not produced for Shinkin banks (cooperatives) in Japan, relying on the information from the stock …

What moves stock prices? Prior literature concludes that the revelation of private information through trading, and not … public news, is the primary driver. We revisit the question by using textual analysis to identify fundamental information in … news. This information accounts for 49.6% of overnight idiosyncratic volatility (compared to 12.4% during trading hours …

market and to be a significant piece of information for all world oil markets in which the WTI is a price benchmark. We …

market and to be a significant piece of information for all world oil markets in which the WTI is a price benchmark. We …

This study analyzes the impact of the information environment (IE) and credit default swap (CDS) transaction costs on … information transmission between the stock and CDS markets. Using the daily regression analysis on the Korean firm's stock and CDS … sensitive total information flow from the stock market to the CDS market. Companies with lower transaction costs in the CDS …