Consistent with the industry practice of linking analyst compensation to their reputation, we find that large traders primarily follow the advice of star analysts and ignore the recommendations of non-star analysts. They buy (sell) stocks for which star analysts revise their recommendations...

We examine the influence of ownership structure on the sensitivity of executive compensation to accounting performance in privately-owned small corporations. We investigate the relation between compensation and several dimensions of accounting-based firm performance including both profits and...

This study investigates the information content of FRR No. 31 reportable events (SEC 1988) communicated by auditors to clients in the two fiscal years and interim period preceding auditor changes. Reportable events identify weaknesses in internal control and problems related to the reliability...

In this paper we investigate whether voluntarily disclosed reasons for auditor-client realignments (as encouraged by the SEC) have information content for investors. After classifying realignment reasons into two types - verifiable and non-verifiable, with the latter representing disclosures...