...AJ Yuan Chen; Omri Even-Tov; Jung Koo Kang; Regina Wittenberg-Moerman ABSTRACT To mitigate information asymmetry about borrowers in developing economies, digital lenders use machine-learning algorithms and nontraditional data from borrowers’ mobile devices. Consequently, digital lenders have...

... document an attenuated spike in earnings announcement (EA) information asymmetry for quarters containing more financial analysis on social media in the weeks prior to the EA. Cross-sectional evidence suggests this finding is stronger when coverage from traditional intermediaries is lower, for financial...

... by 13 percent. The effect is more pronounced when the project quality is high and for projects with less credible creators, high ex ante uncertainty, high information asymmetry between creators and backers, and high financial costs to backers. We also find IB DISCLOSE increases the likelihood...

... Editorship of W. Robert Knechel. 19 07 2022 12 10 2023 31 10 2023 2024 corporate misconduct management control systems supervisors information asymmetry delegation ethics Corporate misconduct, including deceptive business practices, customer fraud, misreporting...

...Enrique A. Gomez ABSTRACT I study the effect of the implementation of the SEC’s EDGAR system on information asymmetry among investors. The SEC adopted EDGAR to decrease acquisition costs of mandatory filings. However, disclosure theory suggests that, even when acquisition costs are low...

... economic conditions and is likely driven by increased information costs. Our results highlight that local newspapers play a meaningful role in mitigating information asymmetry between insiders and outsiders. Data Availability: Data used in this study are available from the sources identified...

... more disclosure and are willing to bear costs of disclosure to reduce information asymmetries among capital market participants. We then empirically test our predictions in the setting of newly public firms and firms where the CEO is approaching retirement. We find that firms with insiders that have...

... to be constrained or unconstrained by the increase in prescribed timeliness. After the regulatory change, firms filing constrained 8-Ks exhibit increases in information asymmetry between investors and investor disagreement at the 8-K filing date relative to firms filing unconstrained 8-Ks. Moreover, the relative...

... crash risk. Our evidence is consistent with recent theory that outside investors learn more about firms when tax enforcement is stricter. Additionally, path analysis suggests that the monitoring channel (direct path) plays a critical role in shaping crash risk relative to information asymmetry channels...

... in Appendix E. JEL Classifications: D82; G14; G21; M41; M42. 2021 adverse selection banks charge-offs competition financial reporting quality information asymmetry internal control system lending decisions material weakness monitoring nonperforming loans Sarbanes-Oxley Act SOX 404...

... differences in returns across funds. mutual funds information asymmetry delegated portfolio management social ties In emerging markets, where much information is obtained through private channels, social ties can be an important information source for investors ( Fan and Wong 2002 ). Investors...

... provide evidence that the introduction of a voluntary and unverified risk disclosure reduced information asymmetry within this unregulated market. JEL Classifications: M41; G24; L15; R12; D03. risk disclosures salience information asymmetry disclosure crowdfunding A primary concern...

... ex ante information asymmetry and expected profits for the informed trader by allowing him to refine his trading strategy and complete his information mosaic. The informed trader's ability to combine information and enhance his advantage is more prevalent when there is more uncertainty about...

... information asymmetry asset substitution accounting information precision debt contracting Prior to committing to lend capital, lenders typically conduct independent investigations (“due diligence”) in order to verify financial information provided by borrowers and evaluate borrowers' general...

... funding from the Lee Kong Chian Fellowship. Editor's note: Accepted by Rachel M. Hayes, under the Senior Editorship of Mark L. DeFond. June 2015 November 2017 2018 XBRL analysts institutions information asymmetry The eXtensible Business Reporting Language (XBRL...

.... DeFond. September 2015 October 2017 2018 information asymmetry voluntary disclosure accounting financial reporting public information private information asset pricing The strategic communication between firms and investors in capital markets through corporate...

...Dan Amiram; Alon Kalay; Avner Kalay; N. Bugra Ozel ABSTRACT We examine the role of the coupon choice in bond contracts as a signaling mechanism in the presence of information asymmetry between borrowers and lenders about the credit quality of the borrower. Prior literature focuses on the use...

... “The Geographic Dispersion of Google Search and the Market Reaction to Earnings Announcements.” 2017 geography local bias Google investor attention information asymmetry earnings response coefficient post-earnings announcement drift investor psychology The ways in which investors obtain...

..., by communicating with banks privately, unionized firms can reduce the adverse selection costs while preserving the information asymmetry with organized labor. Furthermore, I show that organized labor influences the structure of syndicated loans. When firms with strong unions withhold public disclosures...

... absolute accrual model residuals. Finally, we examine the information processing effects of accounting consistency. We find that greater accounting consistency in the time-series and the cross-section is associated with lower information asymmetry, as proxied by bid-ask spread and illiquidity. Greater...