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Disclosure Decisions by Firms and the Competition for Price Efficiency
Home
Publications
Disclosure Decisions by Firms and the Competition for Price Efficiency
Disclosure Decisions by Firms and the Competition for Price Efficiency
MF
Michael J. Fishman
Michael J. Fishman
KH
Kathleen M. Hagerty
Kathleen M. Hagerty
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1 July 1989
journal article
Published by
JSTOR
in
The Journal of Finance
Vol. 44
(3)
,
633-646
https://doi.org/10.2307/2328774
Abstract
This paper develops a model of the relationship between investment decisions by firms and the efficiency of the market prices of their securities. It is shown that more efficient security prices can ...
Keywords
OPTIMAL
MODEL
PRICES
EFFICIENT
DISCLOSURE
DISCLOSING
INCENTIVE
IMPLICIT
MANDATORY
MARKET
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Open Access
Cited by 45 articles