How does asymmetric information relate to investment efficiency? Evidence from analysts' earnings forecasts and daily stock trading
The adverse selection and agency cost theories suggest that the informational transparency of a firm can help to reduce over- or under-investment. This thesis examines how information asymmetry influences firm-level investment efficiency for companies listed in the U.S. market from 1993 to 2009. Inf...
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| Format: | Others |
| Language: | en |
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Digital Commons @ Lingnan University
2013
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| Online Access: | https://commons.ln.edu.hk/fin_etd/6 https://commons.ln.edu.hk/cgi/viewcontent.cgi?article=1006&context=fin_etd |