bei Google ScholarTitelangaben
Lösse, Klara E.:
Relevance and Use of Financial Accounting and Sustainability Information in Financial Analysis.
2022
Veranstaltung: 44th European Accounting Association Annual Congress
, 11.-13. Mai 2022
, Bergen, Norwegen.
(Veranstaltungsbeitrag: Kongress/Konferenz/Symposium/Tagung
,
Paper
)
Abstract
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.