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Title
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Determinants of sell-side financial analysts' use of non-financial information
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Author
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Abstract
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| This paper aims to research the context within which sell-side financial analysts make decisions to use corporate non-financial information. Prior research has demonstrated that financial analysts take into account non-financial information in their analyses of firms, but knowledge is scarce about what determines their use of this information. Based on a survey conducted among Belgian financial analysts, we observe a significant negative association between the financial analysts' use of non-financial information and the eamings informativeness of a firm's financial statement information proxied by leverage and stock retum volatility. We also find that a higher amount of non-financial information is used by less experienced financial analysts and by financial analysts covering a higher number of firms. |
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Language
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English
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Source (journal)
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Accounting and business research. - London, 1970, currens
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Publication
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London
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2010
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ISSN
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0001-4788
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DOI
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10.1080/00014788.2010.9663383
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Volume/pages
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40
:1
(2010)
, p. 39-53
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ISI
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000275254100002
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Full text (Publisher's DOI)
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Full text (publisher's version - intranet only)
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