The discovery and processing of firm-specific information is expected to play a role in the making of individual expectations and related financial decisions. The information set available to share market investors is then jointly composed by market and firm-specific (non-market) information....

This paper develops a theoretical analysis of share market price formation driven by accounting and market structures. Heterogeneous investors are assumed to discover and process fundamental information disclosed by accounting system of share-issuing entity. Information set available to share...

In listed companies, the Board of directors has ultimate responsibility for information disclosure. The conventional wisdom is that director independence is an essential factor in improving the quality of that disclosure. In a sense, this approach subordinates expertise to independence. We argue...

This paper develops a theoretical analysis of share market price formation driven by accounting and market structures. Interacting heterogeneous investors are assumed to discover and process fundamental information disclosed by accounting system of share-issuing entity. Information set available...

This paper develops a model of share price formation driven by accounting and market structures. Heterogeneous investors are assumed to discover and process fundamental information disclosed by the accounting system. The information set available to share market investors is then jointly...

<!--Début du contenu @xml:lang="en"-->?The paper provides an input-output model of telecommunications industrial system that connects the producers of contents (who originate information and communication) to the final consumers (who receive them). Accordingly, the telecommunications industry is jointly constituted by three...

Purpose – The purpose of this paper is to develop a model of innovative industries which face coopetition: firms compete while committing at the same time to R&D joint ventures and other cooperative agreements. These joint activities are likely to occur in presence of complementarities on...

Behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We...

A dynamical model is introduced for the formation of a bullish or bearish trends driving an asset price in a given market. Initially, each agent decides to buy or sell according to its personal opinion, which results from the combination of its own private information, the public information and...