Sentence examples for proxy for information from inspiring English sources
Additionally, the results show that the probability of informed trade (PIN) proxy for information asymmetry is negatively associated with the rankings for clients of industry specialist engagement partners, but not for clients of industry non-specialist engagement partners.
Bid-ask spread is a measure of trading costs (liquidity), which is commonly used to proxy for information asymmetry as it compensates liquidity providers for transacting with better-informed traders (Glosten and Milgrom 1985).
Cisco Systems is a proxy for information technology spending.
The opposite view is that firm size can be used as a proxy for information asymmetry.
Our proxy for information asymmetry (ASY) shows a positive and significant association with SHTDEBT at the 1% level.
Cost of equity is not a standard proxy for information asymmetry as it could be impacted by many other factors.
In our analyses we use annual values of our proxies for information asymmetry.
The three proxies above which are also standard proxies for information asymmetry based on previous studies are considered sufficient to conclude on our research hypotheses.4.4
Moreover, correlations between each of the five proxies for information asymmetry and the index are generally higher than the correlations between each other, suggesting that the index is a parsimonious measure of information asymmetry.
The negative and significant values of correlations and slope coefficients corroborate the expected inverse relationship between the composite index and firm characteristics considered as typical proxies for information asymmetries.
This finding is consistent not only with prior research based on the traditional proxies for information asymmetry from corporate finance literature (e.g. Barclay and Smith 1995; Cuñat 1999; Berger et al. 2005; García-Teruel et al. 2010; González Méndez 2013), but also with the findings in Gao and Zhu (2015) employing measures from market microstructure.
