Board secretary and market information efficiency: Evidence from corporate site visits

Using the setting of corporate site visits, this study examines information interpretation role board secretaries on market efficiency. We find that presence secretary during visits can significantly improve content such visits. From perspective ability, when has a dual role, receives high relative compensation, and level education, his or her participation in greater effect improving informativeness asymmetry, is more pronounced asymmetry between firm its investors high. Further analysis shows attends analyst forecast error lower. In summary, we confirm secretaries, which useful for opening “black box” their assimilation process better understanding how to