Investment Implications of Information Acquisition and Leakage
研究企业在咨询外部人员获取新项目信息时，如何权衡信息泄露风险与项目价值，并分析了道德风险对信息获取活动的影响。
This paper studies when a firm will acquire additional information about a potential new project by consulting outsiders, when doing so runs the risk of reducing the value of implementing the project as a consequence of information leakage. The analysis evaluates the firm's information acquisition activities in both the presence and absence of moral hazard in project production.