Guiding the guiders: Foundations of a market-driven theory of disclosure

Volume 122 / 2020

M. Gietzmann, A. J. Ostaszewski, M. H. G. Schröder 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.

Authors

  • M. GietzmannDepartment of Accounting
    Bocconi University
    Via Roberto Sarfatti 25
    20100 Milano, Italy
    e-mail
  • A. J. OstaszewskiMathematics Department
    London School of Economics
    Houghton Street
    London WC2A 2AE, UK
    e-mail
  • M. H. G. SchröderKeplerstrasse 30, D-69469 Weinheim, Germany
    e-mail

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