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exploiting the microeconomic theory of the optimal financial contract under asymmetric information, economists have recently … growth. This paper reviews the most recent progress of this literature which shows that the amount of information asymmetry … or savers) determine the nature of the financial system. Differences in endowments and in the level of information …
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acquisition of information about firms, its partial revelation through stock prices, capital allocation and income. The stock … specialization, wealth inequality, stock trading intensity, liquidity and return volatility …
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acquisition of information about firms, its partial revelation through stock prices, capital allocation and income. The stock … specialization, wealth inequality, stock trading intensity, liquidity and return volatility …
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