Guiding the guiders: Foundations of a market-driven theory of disclosure
Volume 122 / 2020
Banach Center Publications 122 (2020), 107-132
MSC: Primary 91G50; Secondary 91G80, 93E11, 93E35, 60G35, 60G25.
DOI: 10.4064/bc122-7
Abstract
A foundational approach is developed for a mathematical theory of managerial disclosure in relation to asset pricing; this involves both the earnings guidance disclosed by firm management and market ‘trackers’ pricing the firm’s exposure to quotable risks.
