Publication
Title
The association between web-based corporate performance disclosure and financial analyst behaviour under different governance regimes
Author
Abstract
In this study, we assert and test that the determination of corporate performance communication and financial analysts earnings forecasting work are closely intertwined processes. The resulting endogeneity in capital markets information dissemination and use is strongly influenced by a country's governance regime. Results from simultaneous equation regressions show significant interrelationships between financial analysts activities and corporate disclosure transparency for North American firms. Moreover, analyst following underlies corporate disclosure, which ultimately leads to a reduction in the dispersion of analysts earnings forecasts. In contrast, capital markets information dynamics for continental European firms are much weaker.
Language
English
Source (journal)
Corporate governance : an international review. - Oxford, 1991, currens
Publication
Oxford : 2007
ISSN
0964-8410 [print]
1467-8683 [online]
Volume/pages
15:6(2007), p. 1301-1329
ISI
000252360700023
Full text (Publisher's DOI)
Full text (publisher's version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 08.10.2008
Last edited 10.09.2017
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