| Item Type |
Conference or Workshop Item
(Paper)
|
| Abstract |
We investigate the impact of the quality of corporate social responsibility (CSR) reports on sell-side analyst forecast accuracy. The sample comprises 506 large companies that were selected according to the CSR-Sustainability Monitor, which was used to measure the quality of CSR reports issued in 2012 by the members listed in Fortune 500 US and the Global Index. Forecast error is calculated for the forecast horizons of the same fiscal year and one fiscal year ahead. A multiple-regression model showed a negative correlation of CSR quality and forecast accuracy in both forecast horizons, which was significant for companies domiciled in the stakeholders’ region of Western Europe. A probit regression model showed that the probability of overestimating earnings and thus making overly optimistic forecasts was higher in companies that issued CSR reports of better quality, which was significant for the one year ahead forecast horizons of both Western European companies and companies domiciled in the shareholder-oriented region of North America. |
| Authors |
Baumeister, Sven & Gutsche, Robert |
| Language |
English |
| Subjects |
business studies |
| Date |
8 August 2017 |
| Place of Publication |
AAA Annual Meeting 2017 |
| Event Title |
AAA Annual Meeting |
| Event Location |
San Diego |
| Event Dates |
6. - 8. August 2017 |
| Depositing User |
Prof. Ph.D Robert Gutsche
|
| Date Deposited |
20 Sep 2017 21:36 |
| Last Modified |
20 Jul 2022 17:32 |
| URI: |
https://www.alexandria.unisg.ch/publications/251911 |
The impact of CSR reporting quality on analyst forecast accuracy
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