Do you mean Spence's job market signaling model? I attached his paper and a lecture notes based on the model here
1973 job market signalling.pdf
(465.19 KB)
05uggl10.pdf
(97.12 KB)
There are many ways to give a financial signal. For instance, voluntary disclosure could be considered as a signal; stock repurchase and management stock holding could be considered as a signal of good prospect.


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