Have Financial Markets Become More Informative

211 citations recorded by the source corpus.

Citations in the corpus

The source of information in prices and investment-price sensitivity (2017, unknown): “This result echoes Bai et al. (2016) who use the cross-sectional standard deviation in predicted earnings from investment as a measure of economic efficiency—if prices are totally uninformative, firms will all invest at the same level regardless of prices; the more informative prices are, the greate”
Efficiently Inefficient Markets for Assets and Asset Management (2017, unknown): “For instance, if search costs have diminished over time as information technology has improved, markets should have become more efficient, consistent with the evidence of Wurgler (2000) and Bai et al. (2013), and linked to the amount of assets managed by professional traders (Rosch et al. (2015)).”