{"id":"https://openalex.org/W3124530349","doi":null,"title":"Asset Pricing and Asymmetric Information","display_name":"Asset Pricing and Asymmetric Information","publication_year":2018,"publication_date":"2018-01-01","ids":{"openalex":"https://openalex.org/W3124530349","mag":"3124530349"},"language":"en","primary_location":{"id":"pmh:oai::87403","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"volume":null,"type":"report","is_traditional":false,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5013366293","display_name":"Alexandre Ripamonti","orcid":"https://orcid.org/0000-0003-2022-6819","observed_orcids":["https://orcid.org/0000-0003-2022-6819"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Alexandre Ripamonti","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-2022-6819","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100734190","display_name":"Diego Silva","orcid":"https://orcid.org/0009-0000-9574-5512","observed_orcids":["https://orcid.org/0009-0000-9574-5512"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Diego Silva","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0009-0000-9574-5512","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5041363793","display_name":"Eurico Moreira Neto","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Eurico Moreira Neto","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":"7","issue":"2","first_page":"1","last_page":"9"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/asset-pricing","display_name":"asset pricing","score":0.968999981880188},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.996999979019165},{"id":"https://openalex.org/keywords/stock-prices","display_name":"stock prices","score":0.6639999747276306},{"id":"https://openalex.org/keywords/rational-expectations","display_name":"rational expectations","score":0.6579999923706055},{"id":"https://openalex.org/keywords/brazilian-stock-market","display_name":"Brazilian stock market","score":0.9549999833106995},{"id":"https://openalex.org/keywords/informed-traders","display_name":"informed traders","score":0.6060000061988831},{"id":"https://openalex.org/keywords/price-discovery","display_name":"price discovery","score":0.39100000262260437}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7194515466690063},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.6509335041046143},{"id":"https://openalex.org/C96016098","wikidata":"https://www.wikidata.org/wiki/Q853949","display_name":"Rational expectations","level":2,"score":0.5925183296203613},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.581345796585083},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5698732137680054},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.565027117729187},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5595316886901855},{"id":"https://openalex.org/C145162277","wikidata":"https://www.wikidata.org/wiki/Q1751675","display_name":"Cointegration","level":2,"score":0.49927806854248047},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4723335802555084},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.43282434344291687},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.4267132580280304},{"id":"https://openalex.org/C2988984586","wikidata":"https://www.wikidata.org/wiki/Q1020013","display_name":"Stock price","level":3,"score":0.41724294424057007},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.32830607891082764},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.32510194182395935},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.12858349084854126},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C143724316","wikidata":"https://www.wikidata.org/wiki/Q312468","display_name":"Series (stratigraphy)","level":2,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"pmh:oai::87403","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},{"id":"pmh:oai:RePEc:pra:mprapa:87403","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/87403/1/MPRA_paper_87403.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:3124530349","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/pra/mprapa/87403.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"MPRA Paper","raw_type":null},{"id":"pmh:oai:HAL:hal-05372050v1","doi":null,"is_oa":false,"landing_page_url":"https://hal.science/hal-05372050v1","pdf_url":null,"source":{"id":"https://openalex.org/S4306402512","display_name":"HAL","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4405252976","host_organization_name":"Centre pour la Communication Scientifique Directe","host_organization_lineage":["https://openalex.org/I4405252976"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Asian Journal of Economics, Business and Accounting, 2018, 7 (2), pp.1-9","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3113577604","https://openalex.org/W2127186113","https://openalex.org/W7099897149","https://openalex.org/W3121814340","https://openalex.org/W2216985990","https://openalex.org/W7120459475","https://openalex.org/W2043217884","https://openalex.org/W2065331982","https://openalex.org/W4238223163","https://openalex.org/W7095907130"],"abstract_inverted_index":{"This":[0,49],"study":[1],"applies":[2],"Johansen-Fisher":[3],"panel":[4],"cointegration":[5],"to":[6],"a":[7,34,57],"sample":[8],"of":[9,33,40],"the":[10,15,30,38,46,62],"most":[11],"liquid":[12],"shares":[13],"on":[14],"Brazilian":[16],"stock":[17,25,43],"market":[18],"for":[19],"20":[20],"years.":[21],"It":[22],"finds":[23],"that":[24,51],"prices":[26,44],"are":[27,70],"determined":[28],"by":[29,80],"asymmetric":[31,82],"information":[32,41],"lagged":[35],"period,":[36],"and":[37,66],"dilution":[39],"corrects":[42],"in":[45,61],"current":[47],"period.":[48],"shows":[50],"rational":[52,63],"expectations":[53],"theory":[54],"can":[55,74],"offer":[56],"new":[58],"price":[59],"measure":[60],"valuation":[64],"formula,":[65],"its":[67],"main":[68],"assumptions":[69],"met.":[71],"Uninformed":[72],"traders":[73],"benefit":[75],"from":[76],"this":[77],"paper\u00b4s":[78],"findings":[79],"monitoring":[81],"information.":[83]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2021-02-01T00:00:00"}