Titlebook: Economics of Accounting; Information in Marke Peter O. Christensen,Gerald A. Feltham Book 2003 Springer Science+Business Media New York 200

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Arbitrage and Risk Sharing in Single-Period Marketsrs. We now consider risk sharing and market prices in a competitive financial market in which investors share the economy’s risky aggregate outcome by means of trading in securities, with investors taking the market prices as given.

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Production Choice in Efficient Marketsof event-contingent dividends paid by a firm can be viewed as representing that firm’s production plan . its dividend (financing) policy. In this chapter we explicitly consider the choice of production plans.

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Relation between Market Values and Future Accounting Numbersons change with the information received by investors, and accounting reports could be a source of that information. Furthermore, even if accounting reports are not the source, accounting numbers may be used in representing investor information. However, the representations used in prior chapters ar

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Relation between Market Values and Contemporaneous Accounting Numbersple, virtually every business school has a course in financial statement analysis for valuation purposes, and both investors and analysts consider the information in accounting reports when making investment decisions or recommendations. Furthermore, there are a large number of empirical studies in

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Impact of Private Investor Information in Equity Marketsmation and are price takers. Part C (Chapters 11 and 12) considers the impact of private investor information and non-price taking behavior. Why are we interested in private investor information? As accounting researchers we are not interested in private information ., but we have a particular inter

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Disclosure of Private Information in Product Marketsis on models in which the firm issues new equity and, hence, the owners are concerned about the beliefs of the investors who will buy the new equity. The impact of a potential entrant into the firm’s product market is examined in Sections 14.2.2 and 14.3.1. In the first instance, new equity is not i