动态信息获取、投资与披露

IF 4.9 2区管理学 Q1 BUSINESS, FINANCE

Journal of Accounting Research Pub Date : 2025-03-17 DOI:10.1111/1475-679x.12610

SEUNG Y. LEE, IVÁN MARINOVIC

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引用次数: 0

摘要

我们提出了一个动态的信息获取和披露模型。经理寻求使未来的股票价格最大化，并私下收集有关公司基本面的信息。信息获取提高了私有信息的到达率。经理可以选择公开他的私人信息，也可以选择永远保密。我们研究了信息获取对私有信息积累、披露和企业初始投资的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Dynamic Information Acquisition, Investment, and Disclosure

We present a dynamic model of information acquisition and disclosure. The manager seeks to maximize future stock prices and collects information privately about the firm's fundamentals. Information acquisition increases the arrival rate of private information. The manager can choose to disclose his private information or withhold it in perpetuity. We study the impact of information acquisition on the accumulation of private information, disclosure, and the firm's initial investment.

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来源期刊

Journal of Accounting Research BUSINESS, FINANCE-

CiteScore

7.80

自引率

6.80%

发文量

期刊介绍： The Journal of Accounting Research is a general-interest accounting journal. It publishes original research in all areas of accounting and related fields that utilizes tools from basic disciplines such as economics, statistics, psychology, and sociology. This research typically uses analytical, empirical archival, experimental, and field study methods and addresses economic questions, external and internal, in accounting, auditing, disclosure, financial reporting, taxation, and information as well as related fields such as corporate finance, investments, capital markets, law, contracting, and information economics.