Economic Events, Information Structure, and the Return-Generating Process
提出企业收益过程的参数由自然事件结构和信息结构共同决定，并从收益分布矩中推导出信息发布的频率、准确性和偏差的简单度量。
The parameters of the return process of a firm are determined by two elements?the natu? ral event structure, i.e., the process by which nature affects the value of the firm, and the information structure, i.e., the process by which information about these events is col? lected and disseminated to investors. Simple measures of three dimensions ofthe informa? tion structure?the frequency and accuracy of, and the bias in information releases, are derived from the moments of the return distribution.