Search Results - subject_exact:"Information asymmetry"

Corporate governance in Brazil and opportunistic behavior in the use of insider information

Ventura, Ana Flávia Albuquerque; Decourt, Roberto Frota; … - 2026

The opportunistic use of insider information generates adverse effects on capital markets, making its mitigation through robust corporate governance practices. This research analyzes the corporate governance mechanisms that reduce the signs of opportunistic insider trading, grounded in the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611385

Modeling audit outcomes under information asymmetry : a game-theoretic analysis of delay and fees

Ünal Uyar, Güler Ferhan; Terzioğlu, Mustafa; Kaya, Neylan - 2026

This study models the auditor-client relationship as a strategic game shaped by two-sided information asymmetry and examines how this structure influences key audit outcomes, namely audit delay and audit fees, in Türkiye. Using a game-theoretic framework complemented by empirical analysis, the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614329

Co-voting democracy : dridging direct and representative democracy

Gersbach, Hans - 2026

We provide a rationale for Co-Voting, a decision-making procedure that blends elements of direct and representative democracy to mitigate their main inefficiencies. A randomly selected group of citizens receives voting rights on specific issues, with their collective decision aggregated with...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592835

Equity crowdfunding success in Malaysia : the role of crowd investors, campaign disclosure and valuation disclosure

Lo, Jun Heng; You, Hui Wei; Usman, Sardar Muhammad; … - 2026

This study examines the determinants of equity crowdfunding (ECF) campaign success in Malaysia through the lens of quality signaling theory and behavioral herding dynamics. Using a manually collected dataset of 335 completed campaigns launched on pitchIN, MyStartr, and AtaPlus between 2016 and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628757

Evaluating organizations in an age of absurdity : how fake news disrupts the relationship between business and society

Gardberg, Naomi A.; Colleoni, Elanor; Barnett, Michael L.; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656171

Digital reputation risk disclosure and firm value : novel evidence using textual analysis of Saudi non‑financial listed companies

Sobehy, Khaled Muhammad Hosni; Mahjoub, Lassaad Ben; … - 2026

Current accounting standards do not allow recognition of intangible assets for indigenously created properties, resulting in a discrepancy between the book value and market value of firms operating within digital economies, where investments like cybersecurity and data governance are grossed up...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652128

Refinement of signaling theory in labor markets : informational frictions, educational overinvestment, and equilibrium fragility

Abidi, Monem; Benhamed, Adel - 2026

This paper develops a dynamic signaling framework to analyze how educational investment evolves under imperfect information and how the informational value of credentials changes over time. It addresses a central question: under what conditions do signaling equilibria become fragile, and how...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671906

Examining the complexity effect on shareholder information in Slovenia

Žvipelj, Gregor; Biloslavo, Roberto - 2026

This study investigates how managers communicate with shareholders, balancing impartiality and transparency against their vested interests. We examine management communication behaviour through the lens of information asymmetry in Slovenia, exploring how information overload and complexity in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671727

When attention matters most : investor focus, returns, and volatility during COVID-19

DileepKumar, Devika - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676302

Environmental performance, digital integration and default risk : evidence from European firms

Quttainah, Majdi Anwar; Ayadi, Imen - 2026

This study examines the relationship between environmental performance, digital integration, information asymmetry, and default risk among European firms. It seeks to understand how sustainability and digitalization jointly enhance corporate financial stability. The sample comprises 1303...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061224

More than a band-aid : the alleviating effect and channels of the Industry-Finance Cooperation Pilot Policy on corporate financing constraints

Chen, Yifei; Wang, Shuo - 2026

As a major policy initiative, China's Industry-Finance Cooperation (IFC) Pilot Program aims to address the enduring difficulties enterprises face in securing affordable financing. Despite its intent, the policy's actual efficacy in alleviating corporate financing constraints remains ambiguous....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061628

Flow variability and data sharing in transboundary river treaties

Ansink, Erik; Gudmundsson, Jens; Houba, Harold - 2026

Treaties on transboundary river sharing often include provisions for sharing hydrologic data, yet such sharing is often limited where hydrologic variability is high. We study this puzzle in a model where treaty obligations must be conditioned on a noisy but verifiable public signal of inflows,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675393

Green in the shadow : the information view on green banking regulation

Martino, Edoardo; Parchimowicz, Katarzyna - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016070759

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Green in the shadow : the information view on green banking regulation

Martino, Edoardo; Parchimowicz, Katarzyna - 2026

Book / Working Paper

Nonbank lending under credit registry reform : evidence from Israel's auto loan market

Tsur, Carmel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016074475

Do conventional bonds respond more strongly to ESG information than green bonds? : evidence from China

Kythreotis, Alexios; Di, Zhou; Černohorská, Liběna; … - 2026

This study examines the relationship between Environmental, Social, and Governance (ESG) performance and financing and pricing outcomes in green and conventional bond markets in China over the period of 2017-2024. Drawing on signaling theory, information asymmetry theory, and market segmentation...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064574

Purely procedural preferences in auctions, with a comment to: Equality of opportunity and the acceptability of outcome inequality

Chlaß, Nadine - 2026

Sugden and Wang (2020) are among the first to model intrinsic concerns for equal opportunities. Their study reports that after being subjected to unequal opportunities, people experience anger, resentment, and greed and all parties involved engage in socially wasteful destruction of resources....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016070554

The impact of the updated sections of IFRS for SMEs on the quality, transparency and comparability of financial reporting of enterprises

Khalilov, Hamid - 2026

The purpose of this study was to determine the impact of the updated provisions of International Financial Reporting Standards for Small and Medium-sized Enterprises on the quality, transparency, and comparability of financial reporting. The methodology was based on theoretical, normative, and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062126

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The impact of the updated sections of IFRS for SMEs on the quality, transparency and comparability of financial reporting of enterprises

Khalilov, Hamid - 2026

Article

Does ESG performance inhibit or promote herding behavior of institutional investors?

Zhang, Rongwu; Chen, Huaqian; Zhang, Wenjia; Lu, Tong - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618329

Social responsibility and corporate borrowing

Liu, Huajin; Li, Youwei; Xiao, Yajun; Xiong, Xiong; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015324720

Does corporate policy risk affect stock liquidity? : panel data evidence from listed Companies in a Major Emerging Market

Sahu, Asis Kumar; Debata, Byomakesh; Gherghina, Ştefan … - 2025

This study examines the impact of firms' overall corporate policy risk on stock liquidity. This study constructs a novel overall corporate policies risk index (PRI) for firms by capturing risk embedded in managers' different policy decisions, such as investment, financing, diversification, and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015210375

Supplier carbon management and firm idiosyncratic risk : empirical evidence from China

Zhou, Zhifang; Dai, Yixiang; Han, Shangjie; Zhang, Tao; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333340

How do credit ratings affect corporate investment efficiency?

Xiao, Di; Yu, Xinyu - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015337875

Board gender diversity, information asymmetry, and investment efficiency : do female voices make a difference?

Almutairi, Ngeyan N.; Albaz, Maged M.; Hashad, Tarek M. - 2025

This paper investigates how board gender diversity (BGD) impacts information asymmetry (IA) and investment efficiency (IE), in addition to the moderating role of board gender diversity on the nexus between information asymmetry and investment efficiency in Egypt, motivated by the unclear lens...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015358927

Does options trading affect audit pricing?

Ali, Muhammad Jahangir; Balachandran, Balasingham; Huu … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015395058

Mexican consumers' attitudes toward irradiated and imported apples

Murray, André; Gallardo, Rosa K.; Prakash, Anuradha - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015463605

Credit information sharing and firm innovation : evidence from the establishment of public credit registries

Hou, Fangfang; Ng, Jeffrey; Xu, Xinpeng; Zhang, Janus Jian - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015463632

Liquidity and price informativeness of options : evidence from extended trading hours

Mu, Liangyi; Gozluklu, Arie E. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015465745

Bank mergers, information asymmetry, and the architecture of syndicated loans : global evidence, 1982-2020

Saharti, Mohammed - 2025

This study investigates how bank mergers and acquisitions (M&As) reshape the monitoring architecture of syndicated loans and, by extension, borrowers' financing conditions. Using a global panel of 20,299 syndicated loan contracts, originating in 43 countries between 1982 and 2020, we link LPC...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015467465

Corruption and default risk : global evidence

Nadarajah, Sivathaasan; Atif, Muhammad; Tawiah, Vincent; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015470317

Social connections and capital allocation in multidivisional firms

Jandík, Tomáš; Salikhova, Tatiana - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015470352

The economics of capital allocation in firms : evidence from internal capital markets

Hoang, Daniel; Gatzer, Sebastian; Ruckes, Martin E. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015447377

Project portfolio selection with strategic buckets : the role of naïve diversification

Fügener, Andreas; Schiffels, Sebastian; Thonemann, Ulrich - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015433263

The impact of Bank Fintech on corporate short-term debt for long-term use : based on the perspective of financial risk

Wu, Weiyu; Lin, Xiaoyan - 2025

Information asymmetry between banks and enterprises in the credit market is essentially the microfoundation of financial risk generation. The frequent occurrence of corporate debt defaults, mainly due to the behavior of short-term debt for long-term use (hereinafter referred to as "SDLU"),...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015435854

Pension funds disclosure : does managers' knowledge matter?

Medeiros, Leticia Martins; Macagnan, Clea Beatriz; … - 2025

This study aimed to analyze whether formal managers' qualifications explain the Brazilian pension funds' disclosure level. It started from the assumption of information asymmetry between stakeholders. We also recognize that the problems related to asymmetry in companies participating in the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015436244

Exchange-traded funds and transparency in over-the-counter markets

Doan, Viet-Dung - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015459403

Analyst responses to changes in credit risk

Isabel, Abinzano; Pilar, Corredor; Beatriz, Martinez - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015462067

Mandatory versus voluntary non-financial reporting : reporting practices and economic consequences

Breijer, R.; Erkens, M. H. R.; Orij, R. P.; Vergoossen, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015442385

Information flow and market efficiency : the economic impact of precise language

Barth, Andreas; Mansouri, Sasan; Wöbbeking, Carl Fabian - 2025

This paper examines the impact of complex yet precise language, particularly financial jargon, on information dissemination and ultimately market efficiency. As a natural laboratory, we analyze the information exchanged during earnings conference calls, where we instrument jargon with the Plain...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015443474

Informal finance and enterprise digital transformation

Ning, Zhiyuan; Liu, Pengzhen; Wu, Fei; Zhong, Bin; Guo, … - 2025

Informal finance (IF) provides supplementary financing channels for firms and exerts a significant influence on corporate development decisions in emerging economies. This study empirically examines the impact of IF on enterprise digital transformation using data from A-share listed enterprises...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015596359

Shared auditors in private lending

Platikanova, Petya; Soonawalla, Kazbi - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015597162

What effect does the mandatory adoption of IFRS have on the decision to withdraw an IPO?

Alidarous, Manal - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015551265

Weathering the storm : dynamic capabilities and supply chain agility in supply chain resilience

Legg, Marie; Silver, Reginald A.; Park, Sungjune - 2025

Background: Despite growing interest in supply chain resilience (SCRes), theoretical overlap between dynamic capabilities (DC) and supply chain agility (SCA) has complicated empirical analysis of their distinct roles. Additionally, the contextual role of information asymmetry in shaping...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015579661

A novel metric for corporate environmental responsibility and its impact on investment inefficiency

Wang, Yadong; Albitar, Khaldoon; Chbib, Imad - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015482576

Optimal payment for dynamic treatment regimes

Gao, Long; Zhang, Wei; Chen, Youhua; Fei, Xinyue - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015482670

The price of processing : information frictions and market efficiency in DeFi

Azar, Pablo; Olivas, Sergio; Sinha, Nish D. - 2025

This paper investigates the speed of price discovery when information becomes publicly available but requires costly processing to become common knowledge. We exploit the unique institutional setting of hacks on decentralized finance (DeFi) protocols. Public blockchain data provides the precise...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015396109

Corporate tax credit and trade credit financing : based on the analysis of non-public companies

Zhao, Le; Tang, Qingyang; Wang, Muzhi - 2025

Based on the tax credit rating disclosure system, we examine the impact of the tax credit rating on trade credit levels within non-public companies and analyse the specific mechanisms through which the tax credit rating affects trade credit financing. Our results indicate that companies with the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668589

Ensuring the enterprise functioning under conditions of uncertainty : parametric assessment

Vynogradova, Оlena; Lehominova, Svitlana; Kapeliushna, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016072290

International diversification and stock-price crash risk

Askarzadeh, Alireza; Kanaanitorshizi, Mostafa; … - 2024

Despite the recent proliferation of research on internationalization, little attention has been paid to understanding the reasons behind the decrease in firm value accompanying international expansion. By delving into the underlying mechanisms and applying the concept of agency theory to a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014636301

To share or not to share : an analysis of wine list disclosure by Swiss restaurant owners

Gergaud, Olivier; Masset, Philippe; Pedrinelli, Alice; … - 2024

This paper uses data from the 2021 Swiss edition of the Gault&Millau food guide to analyze the probability with which restaurant owners decide to share their wine list with the public. This is an important question relating to the amount of information circulating in markets characterized by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014636853

Connecting the dots : a systematic review of corporate social responsibility, information asymmetry, and economic implications

Wang, Yadong; Albitar, Khaldoon; Chbib, Imad - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015101132