The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
نویسندگان
چکیده
منابع مشابه
The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
Stock prices are more informative when the information has less social value. Speculators with limited resources making costly (private) information production decisions must decide to produce information about some firms and not others. We show that producing and trading on private information is most profitable in the stocks of firms with poor corporate governance – precisely because it will ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1395633