Skip to main content
  • Book
  • © 2003

Economics of Accounting

Information in Markets

  • On the decision-facilitating role of information,
  • with emphasis on the impact of public and private information on the equilibria and investor welfare in capital and product markets

Part of the book series: Springer Series in Accounting Scholarship (KLAS, volume 1)

Buy it now

Buying options

eBook USD 389.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 499.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 499.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

This is a preview of subscription content, log in via an institution to check for access.

Table of contents (15 chapters)

  1. Front Matter

    Pages i-xx
  2. Introduction to Information in Markets

    1. Introduction to Information in Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 1-26
  3. Basic Decision-Facilitating Role of Information

    1. Front Matter

      Pages 27-27
    2. Single Person Decision Making under Uncertainty

      • Peter O. Christensen, Gerald A. Feltham
      Pages 29-70
    3. Decision-Facilitating Information

      • Peter O. Christensen, Gerald A. Feltham
      Pages 71-109
    4. Risk Sharing, Congruent Preferences, and Information in Partnerships

      • Peter O. Christensen, Gerald A. Feltham
      Pages 111-140
  4. Public Information in Equity Markets

    1. Front Matter

      Pages 141-141
    2. Arbitrage and Risk Sharing in Single-Period Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 143-183
    3. Arbitrage and Risk Sharing in Multi-Period Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 185-222
    4. Public Information in Multi-Period Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 223-252
    5. Production Choice in Efficient Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 253-275
    6. Relation between Market Values and Future Accounting Numbers

      • Peter O. Christensen, Gerald A. Feltham
      Pages 277-313
    7. Relation between Market Values and Contemporaneous Accounting Numbers

      • Peter O. Christensen, Gerald A. Feltham
      Pages 315-363
  5. Private Investor Information in Equity Markets

    1. Front Matter

      Pages 365-365
    2. Impact of Private Investor Information in Equity Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 367-418
    3. Strategic Use of Private Investor Information in Equity Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 419-444
  6. Disclosure of Private Owner Information in Equity and Product Markets

    1. Front Matter

      Pages 445-445
    2. Disclosure of Private Information by an Undiversified Owner

      • Peter O. Christensen, Gerald A. Feltham
      Pages 447-500
    3. Disclosure of Private Information by Diversified Owners

      • Peter O. Christensen, Gerald A. Feltham
      Pages 501-541
    4. Disclosure of Private Information in Product Markets

      • Peter O. Christensen, Gerald A. Feltham
      Pages 543-579

About this book

Economics of Accounting: Information in Markets examines the fundamentals of a variety of economic analyses of the decision-facilitating and decision-influencing roles of information that are pertinent to the study of the economic impact of accounting. While much of information economic analysis makes no explicit reference to accounting, many generic results apply to accounting reports. Furthermore, the impact of accounting reports depends on the other information received by the economy's participants. Hence, it is essential that accounting researchers have a broad understanding of the impact of publicly reported information within settings in which there are multiple sources of public and private information.

The focus in this volume is on the decision-facilitating role of information, with emphasis on the impact of public and private information on the equilibria and investor welfare in capital and product markets.

Authors and Affiliations

  • University of Southern Denmark-Odense, Denmark

    Peter O. Christensen

  • The University of British Columbia, Canada

    Gerald A. Feltham

Bibliographic Information

  • Book Title: Economics of Accounting

  • Book Subtitle: Information in Markets

  • Authors: Peter O. Christensen, Gerald A. Feltham

  • Series Title: Springer Series in Accounting Scholarship

  • DOI: https://doi.org/10.1007/978-1-4615-1133-5

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media New York 2003

  • Hardcover ISBN: 978-1-4020-7229-1Published: 31 October 2002

  • Softcover ISBN: 978-0-387-23932-3Published: 07 December 2004

  • eBook ISBN: 978-1-4615-1133-5Published: 28 November 2012

  • Series ISSN: 1572-0284

  • Edition Number: 1

  • Number of Pages: XX, 593

  • Topics: Accounting/Auditing, Microeconomics

Buy it now

Buying options

eBook USD 389.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 499.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 499.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access