1 option
Signaling and Accounting Information / Stewart C. Myers.
- Format:
- Book
- Author/Creator:
- Myers, Stewart C.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3193.
- NBER working paper series no. w3193
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1989.
- Summary:
- This paper develops a signaling model in which accounting information improves real investment decisions. Pure cash flow reporting is shown to lead to underinvestment when managers have superior information but are acting in shareholders' interests. Accounting by prespecified, "objective" rules alleviates the underinvestment problem.
- Notes:
- Print version record
- December 1989.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.