How Important Is Internal Information Asymmetry for Firm-Level Productivity?
Higher internal information asymmetry between top and divisional managers lowers productivity (2.6% per SD).
Summary
An insider-trading-return-based measure of IIA is related to total factor productivity.
Editor's opinion
Narrow corporate-finance/governance metric paper, not a firm-strategy insight.
Key concepts
internal information asymmetry · productivity · resource allocation