It seems , this is the simplest interpretation of findings . Considering the Information Content of Stock Prices firm-specific return variation is largely unrelated to public and contends that it reflects the capitalization of private information into share prices . Consider the plausibility of this interpretation in the context of the results . Greater error in stock prices should cause estimates to deviate more from the ``true ' value as assessed by investors . This , ceteris paribus , would raise the likelihood of finding a positive correlation...











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