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notice function of patents. One can think of the mechanisms for providing that market information as “Transparency ….”To address transparency insufficiencies, one need not write on a blank slate. Rather, this article suggests borrowing from the …
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This paper considers a simple hidden action agency problem where the principal has hidden information concerning the agent's utility of cash flow or cash flow, the agent's effort productivity, or the agent's cost of effort. The question is whether the principal should precommit to disclosing...
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The paper empirically explores how more trade transparency affects market liquidity. The analysis takes advantage of a … unique setting in which the Shanghai Stock Exchange offered more trade transparency to market participants subscribing to a … more transparency need not improve market liquidity. Second, the paper finds a particularly strong immediate liquidity …
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provide guidance for improving transparency while maintaining trader confidentiality. In addition, we analyze liquidity in the …
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