This paper combines the contracting incentives and tax incentives streams of literature to test plausible reasons why firms select different accounting measures of performance when determining executive compensation. The two measures of performance examined are financial income after income...

This paper examines the security market response to the announcement of sell-side analysts' decisions to initiate coverage of a firm. We examine the market reaction to the initiation announcement, and the accompanying investment recommendation, by disaggregating our sample based on existing...