The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
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下载链接：
https://www.nber.org/papers/w14944
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资源简介：
Stock prices are more informative when the information has less social value. Speculators with limited resources making costly (private) information production decisions must decide to produce information about some firms and not others. We show that producing and trading on private information is
提供机构：
美国国家经济研究局
创建时间：
2009-05-01
