{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/97316"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/97316","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"How does the information environment affect information asymmetry around earnings announcements?","abstract":"This paper shows that the information environment is an important determinant of private information acquisition and changes in information asymmetry around earnings announcements. I create a sample of earnings announcements from 39 countries and investigate whether firm and country-level variation in the information environment affects private information acquisition. To do this, I examine the level of information asymmetry before and during earnings announcements. A stronger firm-level information environment is (1) negatively related to changes in pre-event information asymmetry and (2) positively related to changes in event period information asymmetry. Similarly, a stronger country-level information environment is associated with the firm-level information environment having a stronger effect on information asymmetry before the announcement and a weaker effect during the announcement.","abstract_html":"This paper shows that the information environment is an important determinant of private information acquisition and changes in information asymmetry around earnings announcements. I create a sample of earnings announcements from 39 countries and investigate whether firm and country-level variation in the information environment affects private information acquisition. To do this, I examine the level of information asymmetry before and during earnings announcements. A stronger firm-level information environment is (1) negatively related to changes in pre-event information asymmetry and (2) positively related to changes in event period information asymmetry. Similarly, a stronger country-level information environment is associated with the firm-level information environment having a stronger effect on information asymmetry before the announcement and a weaker effect during the announcement.","abstract_has_math":false,"creators":["Naranjo, Patricia L. (Naranjo Olivares)"],"institution":"Massachusetts Institute of Technology","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":"Sloan School of Management.","school":null,"contributors":[],"advisors":["John Core and Rodrigo Verdi."],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014","date_published":"2014","updated_at":"2026-07-22T22:21:24Z","subjects":["Sloan School of Management."],"languages":["eng"],"rights":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."],"rights_urls":["http://dspace.mit.edu/handle/1721.1/7582"],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/1721.1/97316","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["John Core and Rodrigo Verdi."]},{"key":"dc:contributor.department","label":"Department","values":["Sloan School of Management."]},{"key":"dc:contributor.other","label":"Dc Contributor Other","values":["Sloan School of Management."]},{"key":"dc:creator","label":"Author","values":["Naranjo, Patricia L. 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They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."]},{"key":"dc:rights.uri","label":"Rights URI","values":["http://dspace.mit.edu/handle/1721.1/7582"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/1721.1/97316"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Thesis: Ph. 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Similarly, a stronger country-level information environment is associated with the firm-level information environment having a stronger effect on information asymmetry before the announcement and a weaker effect during the announcement."]},{"key":"dc:description.degree","label":"Dc Description Degree","values":["Ph. D. in Management"]},{"key":"dc:title","label":"Title","values":["How does the information environment affect information asymmetry around earnings announcements?"]}]}],"canonical_facts":{"dc:contributor.advisor":["John Core and Rodrigo Verdi."],"dc:contributor.department":["Sloan School of Management."],"dc:contributor.other":["Sloan School of Management."],"dc:creator":["Naranjo, Patricia L. (Naranjo Olivares)"],"dc:date.accessioned":["2015-06-10T19:08:45Z"],"dc:date.available":["2015-06-10T19:08:45Z"],"dc:date.issued":["2014"],"dc:description":["Thesis: Ph. D. in Management, Massachusetts Institute of Technology, Sloan School of Management, 2014.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 37-39)."],"dc:description.abstract":["This paper shows that the information environment is an important determinant of private information acquisition and changes in information asymmetry around earnings announcements. I create a sample of earnings announcements from 39 countries and investigate whether firm and country-level variation in the information environment affects private information acquisition. To do this, I examine the level of information asymmetry before and during earnings announcements. A stronger firm-level information environment is (1) negatively related to changes in pre-event information asymmetry and (2) positively related to changes in event period information asymmetry. 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