Strategic information aggregation and learning from prices
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DOI: 10.1016/j.jcorpfin.2019.05.002
Abstract: Abstract This paper studies firms' learning from stock prices and corporate investment when managers have different precisions about their investment opportunities. When informed traders and firm managers are strategic, private information is not fully incorporated… read more here.
Keywords: strategic information; aggregation learning; managerial information; information aggregation ... See more keywords