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Business and Management x Economic Growth and Aggregate Productivity x Accounting x clear all

A Theory of Income Smoothing When Insiders Know More Than Outsiders

Viral V. Acharya and Bart M. Lambrecht.

in The Review of Financial Studies

September 2015; p ublished online April 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Intertemporal Choice and Growth; Accounting; Economic Growth and Aggregate Productivity; Corporate Governance. 15617 words.

We develop a theory of income and payout smoothing by firms when insiders know more about income than outside shareholders, but property rights ensure that outsiders can enforce a fair...

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