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http://hdl.handle.net/1942/10734
Title: | Determinants of sell-side financial analysts’ use of non-financial information | Authors: | LYBAERT, Nadine ORENS, Raf |
Issue Date: | 2010 | Publisher: | INST CHARTERED ACCOUNTANTS ENGLAND & WALES, 145 LONDON ROAD, KINGSTON-UPON-THAMES KT2 6SR, SURREY, ENGLAND | Source: | ACCOUNTING AND BUSINESS RESEARCH, 40(1). p. 39-53 | Abstract: | This paper aims to research the context within which sell-side financial analysts make decisions to use corporate non-financial information. Prior research has demonstrated that financial analysts take into account non-financial information in their analyses of firms, but knowledge is scarce about what determines their use of this information. Based on a survey conducted among Belgian financial analysts, we observe a significant negative association between the financial analysts' use of non-financial information and the earnings informativeness of a firm's financial statement information proxied by leverage and stock return volatility. We also find that a higher amount of non-financial information is used by less experienced financial analysts and by financial analysts covering a higher number of firms. | Notes: | [Orens, Raf] Lessius KU Leuven, Dept Business Studies, B-2000 Antwerp, Belgium. [Lybaert, Nadine] Hasselt Univ KIZOK, Hasselt, Belgium. | Document URI: | http://hdl.handle.net/1942/10734 | ISSN: | 0001-4788 | e-ISSN: | 2159-4260 | ISI #: | 000275254100002 | Category: | A1 | Type: | Journal Contribution | Validations: | ecoom 2011 |
Appears in Collections: | Research publications |
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