Analyst research helps prices reflect information about a security’s fundamentals. However, analysts’ private incentives potentially contribute to misleading research and it is possible that the market fixates on such misleading and/or optimistic reports. We examine cross-sectional determinants of the informativeness of analyst reports, i.e., their effect on security prices, controlling for end...

This paper describes theoretical and practical aspects of a procedure for calculating semantic informativeness of concepts on the basis of WordNet. The IVal system is introduced which provides enhanced functionality for accessing the WordNet database including the computation of the concept’s informativeness, the decompositional analysis of terms, and an interface for extending the lexicon.

Business negotiations represent a form of communication where informativeness, i.e., the amount of provided information, depends on context and situation. In this study, we hypothesize that relations exist between language signals of informativeness and the success or failure of negotiations. We support our hypothesis through linguistic and statistical analysis which acquires language patterns ...

The optimal mechanism literature shows that the principal can extract all the equilibrium payoffs at a given Bayesian Game when the players’ information is correlated. For this result to hold, the principal needs to know how informative are the agents’ signals. If the principal does not know how noisy the signal of a player is, or equivalently, when the signals available to a player can be rank...

We investigate the relative informativeness of earnings and dividends for firms with dual class capital structures. In these firms, two classes of common stock create a separation between cash flow rights and voting rights. Despite the concentrated ownership in the dual class firms, we find significantly lower informativeness of earnings, in the form of a weaker returns-earnings association, th...

We study a model of party formation in which the informativeness of party labels and inter-party ideological heterogeneity are endogenously and jointly determined in response to electoral incentives. Parties use screening to increase the cost of affiliation for politicians whose ideal points diverge from the party platform. Because affiliation decisions are endogenous, increased screening decre...

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 ...