The aim of this paper consists on seeing whether the information differential affects tothe stocks return in the Spanish market. Usually the firm attention by financial analysts,expressed by de number of earnings estimations, has been used as a proxy of the differentialinformation. Nevertheless,...

Asset pricing theory generally assumes perfect markets and, therefore, asset pricing models disregard the possibility of information deficiency in stock price formation. Our study analyses if the quantity of information about an asset determines its return. More precisely, we want to know if...

There is empirical evidence in the finance literature showing that informationincorporated in the consensus estimate of earnings per share (EPS) is efficiently reflected byshare prices while the market is quite inefficient in discounting consensus shifts. In thissituation, it is possible that...

Este trabajo estudia las características empresariales que favorecen la correcta aplicación de las obligaciones contables sobre información financiera de sociedades privadas no financieras e ilustra cómo el crédito bancario ayuda a ello. Nuestros análisis se basan en una singular...