Using a proprietary data set on the undisclosed voting records of analysts and professional investors on listed firms for Investor Relation (IR) Awards in Hong Kong, we show that the valuation effect of IR award announcements is positively significant. More importantly, awardees receiving...

We examine whether mandatory research and development (R&D) investments disclosure matters to analyst forecast accuracy. Using a difference-in-differences research design, we document a significant decrease in forecast errors for firms that previously chose not to disclose R&D investments but...