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Relevance and Use of Financial Accounting and Sustainability Information in Financial Analysis

Title data

Lösse, Klara E.:
Relevance and Use of Financial Accounting and Sustainability Information in Financial Analysis.
2022
Event: 44th European Accounting Association Annual Congress , 11.-13. Mai 2022 , Bergen, Norwegen.
(Conference item: Conference , Paper )

Abstract in another language

This case study investigates the still existing “black boxes” of financial analysts’ procedures with particular emphasis on emerging sustainable information. Investors, among other stakeholders, are increasingly interested in information on corporate sustainability. The available ratings exhibit that the agencies are not able to process information on environmental, social
and governance (ESG) matters consistently and obtain deviating ESG scores. It is questionable if financial analysts can generate an added value from sustainable information if even specialized agencies do not come to consistent results. By interviewing sell-side, buy-side and ESG analysts, insights are generated from 24 individuals from Germany, Austria and
the United Kingdom. The interviews that have been conducted between January 2020 and September 2021 provide an in-depth look on financial analyst’s information processing. The case study sheds light on the time constraints under which analysts perform their procedures and tasks. I conclude that sustainable information is relevant to analysts given investors’ high demand for such information. However, the study reveals that analysts remain uncertain on accurate integration of ESG information into their assessment.

Further data

Item Type: Conference item (Paper)
Refereed: Yes
Keywords: financial analysts; information processing; sustainability information
Subject classification: G24, M14, M41, Q56
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X - International Financial Reporting
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X - International Financial Reporting > Chair Business Administration X - International Financial Reporting - Univ.-Prof. Dr. Rolf Uwe Fülbier
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 23 May 2022 08:30
Last Modified: 23 May 2022 08:30
URI: https://eref.uni-bayreuth.de/id/eprint/69681