On Information Asymmetry Metrics

By Jonathan Clarke, Kuldeep Shastri. 2000

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Management Quality, Financial and Investment Policies, and Asymmetric Information (2009, unknown): “…analysts’ forecast error, the dispersion of forecasts, and the bid-ask spread.22 The second group includes two liquidity measures: trading volume and equity turnover.23 22These measures are similar to those used by Christie (1987), Krishnaswami and Subramaniam (1999), and Clarke and Shastri (2001).”
Does Asymmetric Information Drive Capital Structure Decisions (2009, unknown): “Lastly, concordance across these measures is often modest (e.g., Clarke and Shastri 2001; and Hasbrouck 2005).”
Mitigating information asymmetry through sustainability assurance: The role of accountants and levels of assurance (2017, background): “This transfers the findings obtained by Clinch et al. (2012), Francis (2004), Francis et al. (1999) and Healy and Palepu (2001) concerning financial auditing to the field of sustainability assurance. Moreover, it enhances the work of accounting professionals (and Big N firms in particular) in assuri”
How Well Do Adverse Selection Components Measure Adverse Selection (2001, methodology): “Clarke and Shastri (2000), using the model on a random sample of 320 NYSE firms, find implausible estimates of the adverse selection component in approximately 60% of the cases.”