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...

It is possible to partially order cities according to the informativeness of neighborhoods about their ethnic groups. It is also possible to partially order cities with two ethnic groups according to the Lorenz criterion. We show that a segregation order satisfies four well-established segregation principles if and only if it is consistent with the informativeness criterion. We then use this re...

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...

This study examines whether analyst coverage affects the informativeness of income smoothing. I find that income smoothing enhances earnings informativeness more greatly for firms with high analyst coverage than for firms with low analyst coverage. The results suggest that income smoothing more efficiently communicates private information to investors when firms are followed by more analysts, c...