Abstract
Chapter 6 extends the single period analysis in Chapter 5 to a setting with multiple consumption dates and sequential trading of long-lived securities. This provides greater scope for exploring the impact of public information.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Feltham, G. A. (1985) “The Impact of Public Information in Sequential Markets,” Working Paper, The University of British Columbia, Vancouver.
Feltham, G. A., and P. O. Christensen. (1988) “Firm-Specific Information and Efficient Resource Allocation,” Contemporary Accounting Research 5, 133–169.
Hakansson, N. H., J. G. Kunkel, and J. A. Ohlson. (1982) “Sufficient and Necessary Conditions for Information to have Social Value in Pure Exchange,” Journal of Finance 37, 1169–1181.
Hirshleifer, J. (1971) “The Private and Social Value of Information and the Reward to Inventive Activity, American Economic Review 61, 561–574.
Lev, B., and J. Ohlson. (1982) “Market-Based Empirical Research in Accounting: A Review, Interpretation, and Extension,” Journal of Accounting Research 20, 249–322.
Ohlson, J. (1984) “The Structure of Asset Prices and Socially Useless/Useful Information,” Journal of Finance 39, 1417–1435.
Ohlson, J., and G. Buckman. (1981) “Towards a Theory of Financial Accounting. Welfare and Public Information,” Journal of Accounting Research 19, 399–433.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2003 Springer Science+Business Media New York
About this chapter
Cite this chapter
Christensen, P.O., Feltham, G.A. (2003). Public Information in Multi-Period Markets. In: Economics of Accounting. Springer Series in Accounting Scholarship, vol 1. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-1133-5_7
Download citation
DOI: https://doi.org/10.1007/978-1-4615-1133-5_7
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-387-23932-3
Online ISBN: 978-1-4615-1133-5
eBook Packages: Springer Book Archive