... events in the Canadian economic environment and capital markets, and how they have transformed the financial climate. Findings The late 1980s was a turbulent period with many changes in government and economic policies which were initiated at a time when governments were wracked with fiscal deficits...

.... Capital markets Share price Book value Bayesian inference Valuation relevance is one of the main areas of empirical research in accountancy. It examines the relationship between share prices and a set of financial variables such as earnings or book value to explain the behaviour of stock market...