Law, Share Price Accuracy and Economic Performance: The New Evidence
- Topics:
- Pricing Strategy
- Tags:
- Accuracy,
- Economic Performance,
- Finance,
- Financial Accounting,
- New York University,
- Productivity
- Source:
- New York University
FREE Registration is required
Overview: The value of mandatory securities disclosure is intensely debated. Two big questions occupy much of the attention: Do more accurate share prices contribute to the efficient provision of goods and services in the economy? Even if they do, will mandatory disclosure effectively contribute to share price accuracy? To date, the debate has been largely theoretical. This paper sheds much needed empirical light on the matter. After introducing a new technique from financial economics - R2 - to measure share price accuracy, the paper starts by discussing recent R2 studies by ourselves and others addressing the first question.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 349KB | Date: Aug 2003 | Pages: 70
