Abstract Classical models of voluntary disclosure feature two economic forces: the existence an adverse selection problem (e.g., a manager possesses some private information) and cost ameliorating costs associated with disclosure). Traditionally these forces are modelled independently. In this paper, we use simple model to motivate empirical predictions in setting where jointly determined––wher...

the aim of this study is to determine the effect of the income smoothing on the future earnings response coefficient taking into account the effect of the information environment. future earnings response coefficient is used as a measure for evaluation of stock price information content which represents the relationship between current stock returns and future earnings. information environment ...

We consider the problem of defining the information leakage in interactive systems where secrets and observables can alternate during the computation. We show that the information-theoretic approach which interprets such systems as (simple) noisy channels is no longer valid. However, the principle can be recovered if we consider channels of a more complicated kind, that in Information Theory ar...

Quantitative information flow analyses measure how much information on secrets is leaked by publicly observable outputs. One area of interest is to quantify and estimate the information leakage of composed systems. Prior work has focused on running disjoint component systems in parallel and reasoning about the leakage compositionally, but has not explored how the component systems are run in pa...

Timing side channels are a serious threat to the security of cryptographic algorithms. This paper presents a novel method for the timing-sensitive analysis of information flow in synchronous hardware circuits. The method is based on a parameterized notion of confidentiality for finite transition systems that allows one to model information leakage in a fine-grained way. We present an efficient ...

We put forward a model of action-based randomization mechanisms to analyse quantitative information flow (qif) under generic leakage functions, and under possibly adaptive adversaries. This model subsumes many of the qif models proposed so far. Our main contributions include the following: (1) we identify mild general conditions on the leakage function under which it is possible to derive gener...

Acknowledgments This paper is based on Chap. 2 of my Ph.D. thesis completed at Universidad de Alicante under the helpful supervision of Javier M. López-Cuñat.A previous version of this paper circulated with the title “Asymmetric information and Election campaigns: the monitoring role of media” (IVIE WP-AD 2004-32). I thank EnriquetaAragonés, TimothyBesley,MatthiasDahm,DanielDiermeier,RamónFaulí...