Title
|
|
|
|
Determinants of sell-side financial analysts' use of non-financial information
|
|
Author
|
|
|
|
|
|
Abstract
|
|
|
|
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. |
|
|
Language
|
|
|
|
English
|
|
Source (journal)
|
|
|
|
Accounting and business research. - London, 1970, currens
|
|
Publication
|
|
|
|
London
:
2010
|
|
ISSN
|
|
|
|
0001-4788
|
|
Volume/pages
|
|
|
|
40
:1
(2010)
, p. 39-53
|
|
ISI
|
|
|
|
000275254100002
|
|
Full text (Publisher's DOI)
|
|
|
|
|
|
Full text (publisher's version - intranet only)
|
|
|
|
|
|