... by the lending bank in the same year). The results consistently align with our main findings. Additionally, we apply two-dimensional fixed effects to account for the impact of omitted variables. Theory and evidence indicate that loan pricing reflect both credit and information risks faced by the lender...

...Richard Kent; Wenbin Long; Yupeng Yang; Daifei Yao Purpose We adopt an information risk view and argue that higher levels of pledge risk incurred by insiders incentivize opportunistic financial disclosure and impair the quality of information available to analysts to forecast firm performance...

... information Information risk Expected returns Cost of equity capital Implied cost of capital Journal of Accounting Literature 41 (2018) 142 172 Contents lists available at ScienceDirect Journal of Accounting Literature journal homepage: www.elsevier.com/locate/acclit Idiosyncratic information...