Discussion of “Signaling firm value to active investors”

Alfred Wagenhofer ()
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Alfred Wagenhofer: University of Graz

Review of Accounting Studies, 2010, vol. 15, issue 3, No 9, 620-628

Abstract: Abstract Baldenius and Meng (Rev Account Stud, 2010) use a signaling model to study the economic effects of active investors to whom the founder of a firm wants to sell shares. This discussion considers the model structure, the main results and the economics behind them, and the key assumptions that drive these results. It also comments on signaling models in general, the use of additional signals, and the ability of the results to derive predictions.

Keywords: Signaling; Active investor; Pooling equilibrium; Earnings forecasts (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/s11142-010-9123-6

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