scholarly journals Information advantage from polarization-multiplexed readout of nanophotonic scattering overlay sensors

2021 ◽  
Author(s):  
Robin Buijs ◽  
Tom Wolterink ◽  
Giampiero Gerini ◽  
Femius Koenderink ◽  
Ewold Verhagen
2018 ◽  
Vol 33 (1) ◽  
pp. 153-179 ◽  
Author(s):  
Haiyan Jiang ◽  
Donghua Zhou ◽  
Joseph H. Zhang

SYNOPSIS Against the backdrop of the Chinese Directive 40 (China's Reg FD) issued in 2007 as an attempt to curb insider trading and to level the information playing field, this study investigates whether analysts' private information acquisition influences the extent to which firm-specific information is impounded into stock prices, i.e., stock price synchronicity, and how the restrictions on selective disclosures imposed by Directive 40 have shaped the relationship between analyst information acquisition and synchronicity. Using a pre-Directive 40 sample, we show that synchronicity is negatively related to analysts' private information acquisition, which provides support for the “information advantage” argument of analysts' information production. However, the ability of analysts' private information acquisition in improving firm-specific information incorporated into stock price is mitigated post-Directive 40 due to a restriction on selective disclosures and/or private communication. Moreover, we find that this regulatory impact varies for firms being followed by affiliated analysts versus non-affiliated analysts. JEL Classifications: G14; G15; G17; G18.


2009 ◽  
Vol 155 ◽  
pp. 012004 ◽  
Author(s):  
M Dobbs ◽  
M Halpern ◽  
K D Irwin ◽  
A T Lee ◽  
J A B Mates ◽  
...  
Keyword(s):  

2009 ◽  
Author(s):  
Roland den Hartog ◽  
D. Boersma ◽  
M. Bruijn ◽  
B. Dirks ◽  
L. Gottardi ◽  
...  

2015 ◽  
Vol 25 (3) ◽  
pp. 1-4 ◽  
Author(s):  
Jan van der Kuur ◽  
Luciano Gottardi ◽  
Mikko Kiviranta ◽  
Hiroki Akamatsu ◽  
Pourya Khosropanah ◽  
...  

2021 ◽  
Author(s):  
Leila Peyravan ◽  
Regina Wittenberg-Moerman

We investigate how institutional (non-commercial bank) investors that simultaneously invest in a firm's debt and equity (dual-holders) influence the firm's voluntary disclosure. Because institutional dual-holders trade on private information gleaned through lending relationships, we predict and find that borrowers increase earnings forecast disclosure to reduce these investors' information advantage following the origination of loans with their participation. We also show that the increase in disclosure is stronger when the access to a borrower's private information endows dual-holders with a greater information advantage and when the consequences of this access are likely to be more pronounced. We further find that institutional dual-holders earn excess returns when trading equity of non-guider firms following loan origination, but not when firms issue guidance, confirming that earnings disclosure helps level the playing field among investors. Our findings highlight that firms actively use disclosure to mitigate the adverse effect of dual-holders on their information environment.


2017 ◽  
Vol 27 (4) ◽  
pp. 1-4
Author(s):  
J. van der Kuur ◽  
L. G. Gottardi ◽  
H. A. Akamatsu ◽  
B. J. van Leeuwen ◽  
R. den Hartog ◽  
...  

2013 ◽  
Vol 24 (1) ◽  
pp. 40-55 ◽  
Author(s):  
Niall O´ Dochartaigh ◽  
Isak Svensson

PurposeThe purpose of this study is to examine the mediation exit option, which is one of the most important tactics available to any third party mediator.Design/methodology/approachThe paper analyzes a crucial intermediary channel between the Irish Republican Army (hereafter IRA) and the British Government utilizing unique material from the private papers of the intermediary, Brendan Duddy, including diaries that cover periods of intensive communication, extensive interviews with the intermediary and with participants in this communication on both the British Government and Irish Republican sides as well as recently released official papers from the UK National Archives relating to this communication.FindingsThe study reveals how the intermediary channel was used in order to get information, how the third party and the primary parties traded in asymmetries of information, and how the intermediary utilized the information advantage to increase the credibility of his threats of termination.Research limitations/implicationsThe study outlines an avenue for further research on the termination dynamics of mediation.Practical implicationsUnderstanding the conditions for successfully using the exit‐option is vital for policy‐makers, in particular for peace diplomacy efforts in other contexts than the Northern Ireland one.Originality/valueThe paper challenges previous explanations for why threats by mediators to call off further mediation attempts are successful and argues that a mediator can use the parties' informational dependency on him in order to increase his leverage and push the parties towards settlement.


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