Eleswarapu Thompson And Venkataraman-The Impact Of Regulation Fair Disclosure Trading Costs And
In October of 2000, the Securities and Exchange Commission (SEC) passed Regulation Fair Disclosure (FD) in an effort to reduce selective disclosure of material information by firms to analysts and other investment professionals. We find that the information asymmetry reflected in trading costs at earnings announcements has declined after Regulation FD, with the decrease more […]