An information usefulness approach to decision making points out that only the information is regarded as useful that will bring valuable messages to investors and lead to stock price adjustments. This study examines the effectiveness of audit committees in improving earnings quality and informativeness, particularly among family-owned firms. Earnings informativeness was measured through the re...

The eastern king prawn (Melicertus plebejus) is a valuable target species for commercial fisheries operating on the Australian east coast. The ayesian analysis presented here aims to determine the current state and productivity of the NSW component of the eastern king prawn stock nd analyse the possible consequences of altering commercial catches in the future. The Bayesian approach is well sui...

During technological revolutions, stock prices of innovative firms tend to exhibit high volatility and bubble-like patterns, which are often attributed to investor irrationality. We develop a general equilibrium model that rationalizes the observed price patterns. The high volatility results from high uncertainty about the average productivity of a new technology. Investors learn about this pro...

The purpose of this paper is to empirically examine whether movements in two important measurements of the aggregates money supply, M1 and M2, help in predicting future movements in the stock market. We use single-equation multivariate autoregressive models, with the optimal lag order selected using the Akaike Information Criterion, and run two types of Granger causality tests across sequences ...

Catch quotas for walleye pollock Gadus chalcogrammus, the dominant species in the groundfish fishery off Alaska, are set by applying harvest control rules to annual estimates of spawning stock biomass (SSB) from age-structured stock assessments. Adult walleye pollock abundance and maturity status have been monitored in early spring in Shelikof Strait in the Gulf of Alaska for almost three decad...

The study of the joint dynamic behavior between stock market returns and real economic growth rates is an important empirical question in finance and macroeconomics. This paper investigates their linkage by proposing a vector autoregressive infinite hidden Markov model. Our model has two advantages over the existing approaches in the literatures. In contrast to Markov switching models with fixe...