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Asymmetric Information in Financial Markets

Asymmetric Information in Financial Markets
Introduction and Applications


  • Date Published: August 2003
  • availability: Available
  • format: Paperback
  • isbn: 9780521797320

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About the Authors
  • Asymmetric information (the fact that borrowers have better information than their lenders) and its theoretical and practical evidence now forms part of the basic tool kit of every financial economist. It is a phenomenon that has major implications for a number of economic and financial issues ranging from both micro and macroeconomic level - corporate debt, investment and dividend policies, the depth and duration of business cycles, the rate of long term economic growth - to the origin of financial and international crises. Asymmetric Information in Financial Markets aims to explain this concept in an accessible way, without jargon and by reducing mathematical complexity. Using elementary algebra and statistics, graphs, and convincing real-world evidence, the author explores the foundations of the problems posed by asymmetries of information in a refreshingly accessible and intuitive way.

    • Employs simple mathematical and statistical tools
    • Was the first intermediate and advanced introductory book on asymmetric information on the market
    • An important topic brought to a broader, non-specialist audience
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    Product details

    • Date Published: August 2003
    • format: Paperback
    • isbn: 9780521797320
    • length: 172 pages
    • dimensions: 244 x 170 x 9 mm
    • weight: 0.29kg
    • contains: 8 b/w illus. 17 tables
    • availability: Available
  • Table of Contents

    Part I. Conceptual Foundations:
    1. An introduction to asymmetric information problems in financial markets
    2. Protective mechanisms against asymmetric information
    Part II. Applications To Corporate Finance:
    3. Information problems and corporate financing
    4. Asymmetric information and dividend policy
    Part III. Macroeconomic Applications:
    5. Asymmetric information, the financial system and economic growth
    6. Asymmetric information and business cycles
    7. Asymmetric information and the functioning of the financial system
    8. Asymmetric information and international capital flows.

  • Author

    Ricardo N. Bebczuk, Universidad Nacional de La Plata, Argentina
    Ricardo N. Bebczuk is Professor at the Department of Economics, Universidad-Nacional de La Plata, Argentina. He is an International Consultant and Lecturer on financial issues.

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