This paper examines the information content of stock option exercises versus regular insider share trades by corporate …

This paper investigates whether the business press serves as an information intermediary. The press potentially shapes … firms' information environments by packaging and disseminating information, as well as by creating new information through … journalism activities. We find that greater press coverage reduces information asymmetry (i.e., lower spreads and greater depth …

valuation implications of reported earnings. Defining information uncertainty as ambiguity about firm value arising from low … greater information uncertainty (lower quality accruals). After controlling for future earnings changes, I further find that … increasing in the magnitude of insider purchases as well as the level of information uncertainty. Overall, these findings suggest …

lending practices. We compare the performance of borrowers of traded loans following the initial trading event against the … performance of borrowers of non-traded loans following loan issuance. We also investigate whether the relative performance of … measure performance by borrowers' accounting performance and default risk. For loans originated by reputable lead arrangers …

levels of information asymmetry among investors. Using a panel of 386 firms in the U.S. retail sector, I find that the … practice of regularly providing monthly revenue disclosures is not associated with reduced information asymmetry. In contrast …, I find that more detailed (greater quantity) disclosure is associated with reduced information asymmetry. I provide …

examine the joint effects of information precision, information asymmetry and the level of market competition on firms' cost … of equity capital. Consistent with theory, we find that average information precision and the level of market competition … reduce the positive effect of information asymmetry but do not eliminate it. Besides examining various aspects of the …