Purpose – This study aims to examine the effect of the Securities and Exchange Commission's regulation fair disclosure (Reg. FD) on analyst forecast performance for pre‐Reg. FD closed‐call (CLC) and open‐call (OPC) firms compared with the non‐conference‐call (NCC) firms in the...

We present, in this study, a method for comparing the relative effectiveness of different non-profit institutions with similar objectives. In addition, we show how this measure of relative effectiveness is related theoretically to their relative efficiency. Relative effectiveness is shown to be...