Purpose – The purpose of this paper is to add to our understanding of the monitoring role of multiple large shareholders by examining their impact on the informativeness of firms’ earnings. Design/methodology/approach – We use regression models that relate earnings to stock returns for a sample of 402 French publicly traded firms covered during 2003-2007. Findings – We show that earnings inform...

Research by Engelhardt, Bailey and Ferreira (2006) suggests that speakers avoid under-informativeness and listeners penalise it, but that neither of these behaviours apply to overinformativeness. We argue that what may appear as lack of sensitivity to over-informativeness is in fact preference for information that, even though it is not contributing to the unique identification of a referent, i...

Informativeness and entertainment are regarded as two types of advertising value that can influence consumers’ attitudes toward Web advertising. Despite of many studies on these two factors, there are two research gaps in extant literature. First, the effects of informativeness and entertainment on attitude are considered separately, yet their interaction effect is neglected. Second, the role o...

In this thesis I examine clustering evaluation, with a subfocus on text clusterings specifically. The principal work of this thesis is the development, analysis, and testing of a new internal clustering quality measure called informativeness. I begin by reviewing clustering in general. I then review current clustering quality measures, accompanying this with an in-depth discussion of many of th...

Language comprehension is more than a process of decoding the literal meaning of a speaker's utterance. Instead, by making the assumption that speakers choose their words to be informative in context, listeners routinely make pragmatic inferences that go beyond the linguistic data. If language learners make these same assumptions, they should be able to infer word meanings in otherwise ambiguou...

Measuring term informativeness is a fundamental NLP task. Existing methods, mostly based on statistical information in corpora, do not actually measure informativeness of a term with regard to its semantic context. This paper proposes a new lightweight feature-free approach to encode term informativeness in context by leveraging web knowledge. Given a term and its context, we model contextaware...

We propose a novel algorithm for sentiment summarization that takes account of informativeness and readability, simultaneously. Our algorithm generates a summary by selecting and ordering sentences taken from multiple review texts according to two scores that represent the informativeness and readability of the sentence order. The informativeness score is defined by the number of sentiment expr...

We document that firms’ management of accounting earnings increased steadily from 1987 until the passage of the Sarbanes Oxley Act (SOX), with a significant increase during the period prior to SOX, followed by a significant decline after passage of SOX. However, the increase in earnings management preceding SOX was primarily in poorly performing industries. We also show that the informativeness...

This paper analyzes the e¤ects of public information in a perfect competition trading model populated by asymmetriclly informed short-horizon investors who have di¤ering private information precisions. We …rst show that information asymmetry reduces price informativess and can lead to multiple linear equilibria, where price informativeness refers to the amount of private information revealed by...