When Does Information Asymmetry Affect the Cost of Capital?
This paper examines when information asymmetry among investors affects the cost of capital in excess of standard risk factors. When equity markets are perfectly competitive, information asymmetry has no separate effect on the cost of capital. When markets are imperfect, information asymmetry can hav...
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
University of Chicago on behalf of the Accounting Research Center
2012
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| Online Access: | http://hdl.handle.net/1721.1/68635 https://orcid.org/0000-0001-9424-3406 |