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...

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 ...

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...