This paper examines under what circumstances the market-based compensation scheme is effective in inducing managers’ incentives. We combine the optimal contract theory with the market microstructure literature and endogenize both the optimal compensation scheme and the stock market equilibrium. We analytically show that the incentive pay works better in a more efficient (or more informative) st...

BACKGROUND Stroke may lead to several health problems, but positive effects can be promoted by learning to perform physical therapy techniques correctly. OBJECTIVE To compare two different types of observational practice (video instructions and demonstration by a physical therapist) during the use of incentive spirometry (IS). METHOD A total of 20 patients with diagnosis of stroke and 20 he...

In intonational phonology and speech synthesis research, it has been suggested that the relative informativeness of a word can be used to predict pitch prominence. The more information conveyed by a word, the more likely it will be accented. But there are others who express doubts about such a correlation. In this paper, we provide some empirical evidence to support the existence of such a corr...

1. Introduction The main topic of this paper is the phenomenon of scalar implicature. Typical examples are given in (1)-(4): (1) a. Bill has got some of Chomsky's papers. b. The speaker believes that Bill hasn't got all of Chomsky's papers. (2) a. There will be five of us for dinner tonight. b. There won't be more than five of us for dinner tonight. (3) a. X: I like Mary. She's intelligent and ...

This paper analyzes the bene…ts and costs of …nancial statement comparability from an information perspective. We …rst show analytically that while comparability enhances the correlation among …rms’reported earnings (“common informativeness”), it reduces …rms’own reporting precision (“individual informativeness”). Next, we provide theoretical justi…cation for the comparability measure of De Fra...