Risk aversion, mandatory disclosure and the concealment of information

被引：2

作者：

Huang, Hui ^{[1
]}

机构：

[1] Victoria Univ Wellington, Sch Econ & Finance, Wellington, New Zealand

来源：

ECONOMICS LETTERS | 2008年 / 99卷 / 01期

关键词：

insider trading; risk aversion; mandatory disclosure; price efficiency; liquidity;

D O I：

10.1016/j.econlet.2007.09.045

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies a risk-averse insider's reaction to mandatory disclosure regulations. In particular, we examine the effects of disclosure on price efficiency and market liquidity. Contrary to what people generally believe, mandatory disclosure may lead to less efficient prices and less liquid markets. (c) 2007 Elsevier B.V. All rights reserved.

引用

页码：2 / 9

页数：8

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