2023

最新文章

• Mandatory disclosure and learning from external market participants: Evidence from the JOBS act AI翻译
  作者：Pinto, Jedson
  作者单位：University of Texas System; University of Texas Dallas
  摘要：This paper examines whether mandatory disclosure affects the extent to which firms learn from external market participants. Conventional wisdom suggests that mandatory disclosure should increase the total amount of information in financial markets. However, disclosure can also reduce investors' incentives to acquire and produce information. Using the JOBS Act to identify variations in disclosure requirements, this paper finds that firms with reduced disclosure requirements attract more informe...