I examine the extent to which accounting information is reflected in market prices at different points in time. The efficient market hypothesis implies that price always reflects (value-relevant) accounting information, based on the assumptions of rational investors and costless arbitrage. I examine the time-series relation between price and value in two studies which are motivated by potential shortcomings of these assumptions. First, there is significant debate regarding the rationality of equity investors during the late 1990s. I therefore contrast the historical time-series relation between price and value with that of the 1990s, and show that the historical tendency of price to converge towards value breaks down during this period. Second, I examine the impact of the lack of close substitutes - an arbitrage cost - on the time-series relation between price and value. I find some evidence of a positive association between this arbitrage cost and both the level and the duration of the disparity between price and value. My results provide empirical support for the hypothesis that price requires time to reflect (accounting) information and has implications for research that assumes that prices are measured without error.

Bibliography: leaves 309-323. / xii, 326 leaves ; 30 cm. / Title page, contents and abstract only. The complete thesis in print form is available from the University Library. / Thesis (Ph.D.)--University of Adelaide, Adelaide Graduate Business School, 1996

Most attempts by governments to reduce black market activity target the supplier rather than the consumer. The current thesis, however, sees reducing the willingness of the consumer to buy such goods as crucial in reducing the market. Over three studies, I examined variables that affected consumers buying from black markets and their perceptions of black markets. Study 1 (80 participants) confirmed the hypothesis that when the need to buy from a black market was for survival it would be considered more acceptable than to save money or to buy luxury goods. Study 1 further showed it was less acceptable to buy from the black market when the victim resulting from the purchase of the good was identified as an individual, rather than an organisation or society. Age and the gender of the consumer were also significant predictors of the rating of acceptability. In Study 2,65 participants completed a series of computer simulated scenarios to measure the price they would pay for different black market goods. Results indicate that the price participants were willing to pay for black market goods varied according to who the victim was (individual, organisation or society) and the participant's age and gender. Finally, in Study 3, 64 participants completed a similar task to Study 2, but some participants were informed about the true cost of black markets. Results confirmed the previous findings as well as indicating that the type of crime committed to procure the good and whether they saw information about the true cost of the markets also affected the price they would be willing to pay. The thesis concludes with suggestions for reducing black market activity.

Thesis (Ph. D.)--Michigan State University. Business Administration, 2006. / Title from PDF t.p. (viewed on Nov. 20, 2008) Includes bibliographical references (p. 186-193). Also issued in print.

Thesis (M.A.)--University of Missouri-Columbia, 2007. / The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file (viewed on April 16, 2009) Includes bibliographical references.

Thesis (Ph. D.)--Catholic University of America, 1926. / Vita. Bibliography: p. 40.

Thesis (M.S.)--University of Alberta, 2009. / "Fall 2009." At head of title: University of Alberta. "A thesis submitted to the Faculty of Graduate Studies and Research in partial fulfillment of the requirements for the degree of Master of Science in mathematical finance-- thesis based, Dept. of Mathematical and Statistical Science." Title from pdf file main screen (viewed on July 15, 2009).

Title from PDF of title page (University of Missouri--Columbia, viewed on Feb 26, 2010). The entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file. Dissertation advisor: Dr. Paul Brockman. Vita. Includes bibliographical references.

Thesis (Ph. D.)--Catholic University of America, 1926. / Vita. Bibliography: p. 94-99.

Thesis (Ph. D.)--Catholic University of America, 1926. / Vita. Bibliography: p. 40.