The efficiency of public education is examined using a cost indirect output distance function. Efficiency estimates are obtained using data envelopment analysis applied to data from Georgia public schools. Georgia school districts utilize educational budgets with reasonable efficiency, achieving...

Using a valuation model, I find that uncertainty about firms varies across the levels of (1) prior information available about the firms, and (2) their intangible assets usage. I find the magnitudes of the coefficients on earnings and BVE for firms that employ intangible assets intensively are...