Corporate Social Responsibility Report Narratives and Analyst Forecast Accuracy
Standalone corporate social responsibility (CSR) reports vary considerably in the content of information released due to their voluntary nature. In this study, we develop a disclosure score based on the tone, readability, length, and the numerical and horizon content of CSR report narratives, and ex...
| Τόπος έκδοσης: | Journal of business ethics |
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| Κύριοι συγγραφείς: | ; ; ; |
| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Journals Online & Print: | Φόρτωση...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Έκδοση: |
Springer Science + Business Media B. V
2019
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| Στο/Στη: |
Journal of business ethics
Έτος: 2019, Τόμος: 154, Τεύχος: 4, Σελίδες: 1119-1142 |
| Άλλες λέξεις-κλειδιά: | B
Textual disclosures
B Analyst forecasts B Corporate Social Responsibility Reporting |
| Διαθέσιμο Online: |
Πιθανολογούμενα δωρεάν πρόσβαση Volltext (lizenzpflichtig) |
| Σύνοψη: | Standalone corporate social responsibility (CSR) reports vary considerably in the content of information released due to their voluntary nature. In this study, we develop a disclosure score based on the tone, readability, length, and the numerical and horizon content of CSR report narratives, and examine the relationship between the CSR disclosure scores and analyst forecasts. We find that CSR reporters with high disclosure scores are associated with more accurate forecasts, whereas low score CSR reporters are not associated with more accurate forecasts than firms who do not issue CSR reports. The findings are robust to controlling for firm characteristics including CSR activity ratings and financial narratives. The findings are driven by experienced CSR reporters rather than first-time CSR reporters. Together, our findings suggest that the content of CSR reports helps to improve analyst forecast accuracy, and this relationship is more pronounced for CSR reports with more substantial content. |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-016-3429-7 |