Information disclosure quality: correlation versus precision
We investigate how a multidimensional disclosure quality (i.e., correlation and precision) determines an optimal information disclosure strategy. We find that, for an infinitely lived, unlevered firm with market perfection, a truth-telling disclosure is optimal at increasing the expected firm value....
| Main Authors: | , |
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| Format: | Journal Article |
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Wiley-Blackwell Publishing Asia
2017
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| Online Access: | http://hdl.handle.net/20.500.11937/54701 |