The literature examining analyst activity assumes that access to management is valued by analysts and their employers. We propose a readily observable measure of access: how often an analyst is invited to be among the first to ask questions in the Q&A session of an earnings conference call....

The selection and weighting of performance indicators are of vital importance for an effective compensation contract. We examine the effect of the reclassification of income statement items, caused by China’s new Accounting Standards for Business Enterprises (ASBE) in 2007 on the weight...