Corporate Social Responsibility and Management Forecast Accuracy

This study examines the association between corporate social responsibility (CSR) and management forecast accuracy. Using data from 1995 to 2009, we find that firms provide more accurate earnings forecasts in the face of CSR activities. We also find that the positive association between CSR and mana...

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Bibliographic Details
Main Author: Lee, Dongyoung (Author)
Format: Electronic Article
Language:English
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Published: Springer 2017
In: Journal of business ethics
Year: 2017, Volume: 140, Issue: 2, Pages: 353-367
Further subjects:B Corporate social responsibility
B Disclosure regulation
B Management forecast accuracy
B Financial disclosure
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Description
Summary:This study examines the association between corporate social responsibility (CSR) and management forecast accuracy. Using data from 1995 to 2009, we find that firms provide more accurate earnings forecasts in the face of CSR activities. We also find that the positive association between CSR and management forecast accuracy is only present for the post-regulation period of 2001–2009, after the introduction of disclosure regulations intended to mitigate managers’ opportunistic behavior. These findings are consistent with the notion that managers strive to improve the quality of financial disclosure following superior CSR performance in the recent period.
ISSN:1573-0697
Contains:Enthalten in: Journal of business ethics
Persistent identifiers:DOI: 10.1007/s10551-015-2713-2