This paper uses an equilibrium model to study how institutional investors in uence the volatility and the informativeness of asset prices. The growth in the proportion of U.S. equities owned by institutions in the past two decades, their resulting dominant position in nancial markets, and empirical evidence that institutional ownership may increase volatility warrant studying this issue from a ...

Phylogenetic research is often stymied by selection of a marker that leads to poor phylogenetic resolution despite considerable cost and effort. Profiles of phylogenetic informativeness provide a quantitative measure for prioritizing gene sampling to resolve branching order in a particular epoch. To evaluate the utility of these profiles, we analyzed phylogenomic data sets from metazoans, fungi...

This study draws on prior research on corporate governance and examines whether the informativeness of earnings, proxied by the earnings±returns relationship, varies with the fraction of outside directors serving on the board and board size. The results suggest that earnings of ®rms with the smallest boards in the sample (with a minimum of ®ve board members) are perceived as being more informat...

In this paper, an incentive scheme based on crashing lead time is proposed to coordinate a supplier-retailer supply chain (SC). In the investigated SC, the supplier applies a lot-for-lot replenishment policy to replenish its stock and determines the replenishment multiplier. Moreover, the transportation lead time is considered under the control of the supplier. The retailer as downstream member...

In this paper, we discuss some of the challenges of adequately applying a specification language to an annotation task, as embodied in a specific guideline. In particular, we discuss some issues with TimeML motivated by error analysis on annotated TLINKs in TimeBank. We introduce a document level information structure we call a narrative container (NC), designed to increase informativeness and ...

service oriented enterprises (soes) are subject to constant change and variation. in this paper, the changes are considered from an economic perspective based on service culture notion. once a change is implemented, the costs of some member services may increase, whereas the costs of some other services may reduce. we construct a game theoretic model trying to capture the possible conflicting i...

We examine the relation between corporate governance and firms' information environments. We use the passage of state antitakeover laws in the U.S. as a source of exogenous variation in an important governance mechanism to identify changes in firms' information environments. We find that information asymmetry and private information gathering decreased and that financial statement informativene...

This paper uses an information-theoretic perspective to propose multi-locus informativeness measures for ancestry inference. These measures describe the potential for correct classification of unknown individuals to their source populations, given genetic data on population structure. Motivated by Shannon‟s axiomatic approach in deriving a unique information measure for communication (Shannon 1...