This study analyzes corporate voluntary disclosures to the capital market in the presence of competing information … sources, from which traders can subsequently obtain additional public and private information. The analysis demonstrates that … the anticipated access of traders to additional information sources may significantly alter the voluntary disclosure …

This study examines analyst information intermediary roles using a textual analysis of analyst reports and corporate …. In addition, we find that investors place a greater value on new information in analyst reports when managers face … greater incentives to withhold value-relevant information. Analyst interpretation is particularly valuable when the processing …

This paper is designed to explore the nature of information system development in small and medium sized enterprises …

We analyze the reliability of voluntary disclosures of financial information, focusing on widely-employed publicly … available hedge fund databases. Tracking changes to statements of historical performance recorded at different points in time … performance histories significantly and predictably underperform those that have never revised, suggesting that unreliable …

In the last few decades, the problem of voluntary disclosure of financial or non-financial information has been, in the … attention of specialists, given the fact that information assimetry, as explained by the agency theory, has become an important … market investments. The performance of company, estimated by using the EVA, MVA, VA indicators, are directly linked with the …

subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

subject to a private information problem. The asset plays the role of a medium of exchange, but this role can be affected by … information, a set of experiments with adverse selection where the terminal value of notes are determined exogenously, and a set …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing … average portfolio demand information in equilibrium if they can adjust portfolio size. More information diminishes the … endowments strongly differ from the average portfolio are worse off. Under fully revealing price, information market equilibria …

We analyze a model in which the value of a security is comprised of multiple distinct parts and private information … about these pieces is scattered among investors. We show that as information is scattered into smaller, distinctively … informative pieces, endogenous information acquisition activity can increase, even if the acquisition cost does not decrease. Our …