Metody badania asymetrii informacji w przedsiębiorstwie w zakresie alokacji kapitału

• Authors: Jarosław Kubiak

Title variants

EN

Methods for Examining Information Asymmetry in Enterprises in the Case of Capital Allocation

• Languages of publication: PL

Abstracts

EN

The authordiscussesand evaluatesmethods formeasuringthe level ofinformation asymmetry in enterprises depending on their ownership structure. Information asymmetryis asourceofprocesses such as adverseselectionandmoral hazard, the author says. An appropriate ownershipstructure in companiescanbe usedto reducethe negative effects of an information asymmetry. Thearticle examines ways of measuring information asymmetryinterms of the data needed for such measurements and therisk that a givenmeasure will be inaccurate. The author concludes that, in large-scaleresearch,direct measurements ofthe levelof information asymmetryareoftenimpossibleandthe results mustbeapproximated. When planningresearchit is necessary totake into account therange ofdataneededtousea specific measureand therisks related to the inaccuracy ofmeasurements, Kubiak says. When examining the relationship between information asymmetry and a company’s ownership structure, researchers should arrange enterprises according to the relativelevel ofinformation asymmetry, he adds. According tothe author, this can bedone by developing a compositemeasure of information asymmetryonthebasis of specificindicators usingthe linear ordering method. Such a procedureshouldreduce theriskof improperclassificationof companiesaccording to thelevel of information asymmetry, Kubiak says.

Keywords

EN

information asymmetry; capital allocation; ownership structure; adverse selection; moral hazard

• Publisher: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
• Journal: Gospodarka Narodowa. The Polish Journal of Economics
• Year: 2011
• Volume: 247
• Issue: 4
• Pages: 45-67

Dates

published

2011-04-30

Contributors

author

Jarosław Kubiak

Identifiers

DOI

10.33119/GN/101081