1 resultado para cash-rent market approach
em Duke University
Filtro por publicador
- Abertay Research Collections - Abertay University’s repository (2)
- Aberystwyth University Repository - Reino Unido (3)
- Academic Archive On-line (Jönköping University; Sweden) (1)
- Academic Archive On-line (Stockholm University; Sweden) (1)
- Academic Research Repository at Institute of Developing Economies (3)
- Adam Mickiewicz University Repository (1)
- AMS Tesi di Dottorato - Alm@DL - Università di Bologna (8)
- Aquatic Commons (4)
- ArchiMeD - Elektronische Publikationen der Universität Mainz - Alemanha (1)
- Archive of European Integration (21)
- Archivo Digital para la Docencia y la Investigación - Repositorio Institucional de la Universidad del País Vasco (9)
- Aston University Research Archive (48)
- Biblioteca de Teses e Dissertações da USP (1)
- Biblioteca Digital da Produção Intelectual da Universidade de São Paulo (4)
- Biblioteca Digital da Produção Intelectual da Universidade de São Paulo (BDPI/USP) (1)
- BORIS: Bern Open Repository and Information System - Berna - Suiça (8)
- Bulgarian Digital Mathematics Library at IMI-BAS (1)
- CaltechTHESIS (1)
- Cambridge University Engineering Department Publications Database (4)
- CentAUR: Central Archive University of Reading - UK (43)
- Chinese Academy of Sciences Institutional Repositories Grid Portal (1)
- Cochin University of Science & Technology (CUSAT), India (4)
- Comissão Econômica para a América Latina e o Caribe (CEPAL) (13)
- CORA - Cork Open Research Archive - University College Cork - Ireland (3)
- Corvinus Research Archive - The institutional repository for the Corvinus University of Budapest (14)
- Dalarna University College Electronic Archive (4)
- Deakin Research Online - Australia (71)
- DI-fusion - The institutional repository of Université Libre de Bruxelles (3)
- Digital Commons - Michigan Tech (1)
- Digital Commons at Florida International University (9)
- Digital Peer Publishing (3)
- DigitalCommons@University of Nebraska - Lincoln (2)
- Doria (National Library of Finland DSpace Services) - National Library of Finland, Finland (3)
- DRUM (Digital Repository at the University of Maryland) (1)
- Duke University (1)
- eResearch Archive - Queensland Department of Agriculture; Fisheries and Forestry (4)
- Glasgow Theses Service (1)
- Greenwich Academic Literature Archive - UK (1)
- Helda - Digital Repository of University of Helsinki (6)
- Illinois Digital Environment for Access to Learning and Scholarship Repository (1)
- Indian Institute of Science - Bangalore - Índia (4)
- Instituto Politécnico de Viseu (4)
- Instituto Politécnico do Porto, Portugal (12)
- Massachusetts Institute of Technology (1)
- Portal de Revistas Científicas Complutenses - Espanha (2)
- QUB Research Portal - Research Directory and Institutional Repository for Queen's University Belfast (11)
- Queensland University of Technology - ePrints Archive (374)
- Repositorio Académico de la Universidad Nacional de Costa Rica (1)
- Repositório Científico da Universidade de Évora - Portugal (2)
- Repositório Científico do Instituto Politécnico de Lisboa - Portugal (3)
- Repositorio de la Ciencia y Cultura de El Salvador REDICCES (1)
- Repositório digital da Fundação Getúlio Vargas - FGV (31)
- Repositório Institucional da Universidade de Aveiro - Portugal (2)
- Repositório Institucional UNESP - Universidade Estadual Paulista "Julio de Mesquita Filho" (10)
- Repositorio Institucional Universidad EAFIT - Medelin - Colombia (1)
- RUN (Repositório da Universidade Nova de Lisboa) - FCT (Faculdade de Cienecias e Technologia), Universidade Nova de Lisboa (UNL), Portugal (15)
- SAPIENTIA - Universidade do Algarve - Portugal (3)
- School of Medicine, Washington University, United States (1)
- Universidad de Alicante (3)
- Universidad del Rosario, Colombia (24)
- Universidad Politécnica de Madrid (11)
- Universidade Federal do Pará (1)
- Universidade Federal do Rio Grande do Norte (UFRN) (1)
- Universidade Técnica de Lisboa (2)
- Universitat de Girona, Spain (2)
- Universitätsbibliothek Kassel, Universität Kassel, Germany (4)
- Université de Lausanne, Switzerland (1)
- Université de Montréal (1)
- Université de Montréal, Canada (8)
- University of Connecticut - USA (3)
- University of Michigan (1)
- University of Queensland eSpace - Australia (16)
- WestminsterResearch - UK (1)
Resumo:
This paper analyzes a manager's optimal ex-ante reporting system using a Bayesian persuasion approach (Kamenica and Gentzkow (2011)) in a setting where investors affect cash flows through their decision to finance the firm's investment opportunities, possibly assisted by the costly acquisition of additional information (inspection). I examine how the informativeness and the bias of the optimal system are determined by investors' inspection cost, the degree of incentive alignment between the manager and the investor, and the prior belief that the project is profitable. I find that a mis-aligned manager's system is informative
only when the market prior is pessimistic and is always positively biased; this bias decreases as investors' inspection cost decreases. In contrast, a well-aligned manager's system is fully revealing when investors' inspection cost is high, and is counter-cyclical to the market belief when the inspection cost is low: It is positively (negatively) biased when the market belief is pessimistic (optimistic). Furthermore, I explore the extent to which the results generalize to a case with managerial manipulation and discuss the implications for investment efficiency. Overall, the analysis describes the complex interactions among determinants of firm disclosures and governance, and offers explanations for the mixed empirical results in this area.