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On the value relevance of information on environmental and social activities and performance – Some evidence from the UK stock market

Bernardi, Cristiana and Stark, Andrew W. (2018). On the value relevance of information on environmental and social activities and performance – Some evidence from the UK stock market. Journal of Accounting and Public Policy, 37(4) pp. 282–299.

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DOI (Digital Object Identifier) Link: https://doi.org/10.1016/j.jaccpubpol.2018.07.001
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Abstract

Motivated by the requirements of the UK Companies Act 2006 for a Strategic Report introduced in late 2013, and the subsequent Directive 2014/95/EU of the European Parliament and of the Council, we investigate the relationship between the levels of disclosures on environmental and social activities and performance (analyst following) and subsequent analyst following (subsequent levels of disclosures on environmental and social activities and performance). We do so to investigate the value relevance of information about environmental and social activities and performance. Our evidence is consistent with their value relevance and an associated demand for, or general interest in, such disclosures from informed market participants. We also argue that our results suggest positive links between analyst following and the quality of environmental and social disclosure.

Item Type: Journal Item
ISSN: 0278-4254
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Related URLs:
Item ID: 55463
Depositing User: Cristiana Bernardi
Date Deposited: 18 Jun 2018 08:41
Last Modified: 03 Jun 2019 08:10
URI: http://oro.open.ac.uk/id/eprint/55463
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