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Stephan, Andrew Perry Assistant Professor


Research Areas research areas


research overview

  • Professor Stephan's research focuses on the intersection between investors, information intermediaries, and firm disclosures. His research investigates whether two different investor types, institutional and algorithmic, affect firm disclosure policies. He is also interested in whether the timing of firm disclosures affects how the disclosures are processed by investors and incorporated into prices. Other areas of interest include market intermediaries and the exchange of information between analyst brokerage houses and politicians.


  • Financial accounting, disclosure, market microstructure, institutional investors, behavioral finance


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