Chan, L.-C.; Lee, E.; Petaibanlue, J.; Zeng, C. - In: Applied Financial Economics 24 (2014) 23, pp. 1479-1489
We re-examine the positive relationship between the probability of information-based trading (PIN) measure and timely loss recognition, documented by LaFond and Watts (2008). This relationship has been interpreted as evidence that timely loss recognition plays an information role for equity...