要翻譯的句子為: The results are robust to alternative specifications of informativeness and gender diversity and to sensitivity tests controlling for time-invariant firm characteristics and alternative measures of stock price informativeness.
以及~ We also find that gender diversity improves stock price informativeness through the mechanism of increased public disclosure in large firms and by encouraging private information collection in small firms.
提供一些關於資訊內涵(informativeness)的概念: Beaver(1968)與Ball and Brown(1968)首先提出資訊內涵(informativeness)的概念,其最早被運用在財務會計的研究上。Beaver 定義資訊內涵為:若公司的一項新資訊可以改變投資者對該公司股票未來報酬的預期,進而造成市場均衡價格的改變,則該資訊即可稱為具有效性,或具有資訊內涵。 Grossman and Stiglitz(1980)對資訊內涵的定義則為:正式或非正式資訊,具有幫助區分與建立證券新價值者,即具有資訊內涵。