In empirical tests guided by recent theory (e.g., Hughes, Liu and Liu 2007; and Lambert, Leuz and Verrecchia 2012), we examine the joint effects of information asymmetry and information precision on the cost of capital and how these effects vary based on the amount and quality of available...

Sheng and Thevenot (2011) develop a new measure of uncertainty which is a modification of the uncertainty measure advanced by Barron, Kim, Lim and Stevens (BKLS 1998), and they find this new uncertainty measure to be superior to the BKLS measure in certain settings. We follow Sheng and...