Investment Implications of Information Acquisition and Leakage

This paper studies when a firm will acquire additional information about a potential new project by consulting outsiders, when doing so runs the risk of reducing the value of implementing the project as a consequence of information leakage. The analysis evaluates the firm's information acquisition activities in both the presence and absence of moral hazard in project production.

• 저널Management Science · 49(6) · 767–783
• 토픽Capital Investment and Risk Analysis · Finance
• DOI10.1287/mnsc.49.6.767.16029
• 저자Ronald A. Dye, Sri S. Sridhar