5Glisten, L, and P Milgrom, 1985, "Bid, Ask, and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders", Journal of Financial Economics 26, 71-100.
6Handa, P, and S Linn, 1993, "Arbitrage pricing with estimation risk", Journal of Financial Economics,81-100.
7Healy, P, A Hutton, and K Palepu, 1999, "Stock performance and intermediation changes surrounding increases in disclosure", Contemporary Accounting Research 16, 485-520.
8Klein, R, and V Bawa, 1976, "The Effect of Estimation Risk on Optimal Portfolio Choice", Journal of Financial Economics.
9Leuz, C and R E Verrecchia, 2000, "The Economic Consequences of Increased Disclosure", Journal of Accounting Research, forthcoming.
10Marquardt, C and Wiedman, C , 1998, "Voluntary Disclosure, Information Asymmetry, and Insider Selling Through Secondary Equity Offerings", Contemporary Accounting Research, 15(4): 505-537.
2Fame E F.Efficient Capital Market:A Review of theory and Work[J].Journal of Finance,1970,25(2):383-417.
3Wurgler J.Financial Markets and the Allocation of Capital[J].Journal of Financial Economics,2000,58:187-214.
4Welker M.Disclosure policy,information asymmetry and liquidity in equity markets[J].Contemporary Accounting Research,1995,11:801-827.
5Lang M,Lundholm R.Cross-sectional determinants of analysts ratings of corporate disclosures[J].Journal of Accounting Research,1993,31:246-271.
6Lang M,Lundholm R.Corporate disclosure policy and analyst be havior[J].The Accounting Review,1996,71:467-493.
7Sengapta P.Corporate disclosure quality and the cost of debt[J].The Accounting Review,1998,73:459~474.
8Healy P,Hutton A,Palepu K.Stock performance and intermediation changes surrounding sustained increase in disclosure[J].Contemporary Accounting Research,1999,6:485-520.
9Lundholm R,Myers L A.Bring the future forward:the effect of disclosure on the returns-earnings relation[J].Journal of Accounting Research,2002,40:809-839.