This research studies the association between multinational firm complexity and analyst following. We first present a model of a firm?s operational complexity in terms of its lines of business and geographic operating regions, considered separately, jointly, and interactively, including a...

We investigate whether risk-related incentives of executive stock option (ESO) compensation plans are associated with income smoothing. Given that risk has both potential benefits and costs, including possible losses and/or large fluctuations that affect reported financial outcomes,...

This study explores analyst following of companies in terms of equity analysts' potential trading and underwriting revenues and costs. Using measures of equity securities trading, equity securities issuance, risk, corporate disclosure, insider and institutional ownership, and complexity, we...

This paper examines the relationship between financial analysis levels and identifiable firm characteristics. The full text of 187 sell-side analyst reports is coded using content analysis. Publicly available information is searched to identify potential sources of the coded information. Source...

The empirical determination of whether human capital investment creates intangible assets and contributes to firms' profitability and market values is seriously hampered by the lack of publicly disclosed information on such practices. Using unique survey data regarding employee training...