Sustainable Investment and Corporate Governance Working Papers, Sustainable Investment Research Platform
No 2007/5:
A Study of the Provision of Environmental Information in Financial Analysts Reports
Gary Cunningham ()
, Lars Hassel ()
and Henrik Nilsson ()
Abstract: Reporting of environmental information along with
financial information has become an important research topic. Research to
date has focused on the nature of the information reported by companies.
This study extends prior research by examining the inclusion of
environmental information by financial analysts in their research reports
of companies in the chemical and in the oil and gas industries. Both
companies and the financial analysts are divided into subsets by geographic
region, Europe and North America. Results show that only 35 per cent of
financial analysts’ reports have environmental information. Those reports
that do have such information have more environmental information for North
American companies than for European companies and analysts tend to report
more information for companies in their regions. The chemical industry
receives more attention, especially for downside information.
Keywords: Environmental information; financial analysts’ reports; equity valuation; content analysis; (follow links to similar papers)
22 pages, November 27, 2007, Revised December 17, 2007
OnLine Journal atricle downloadable at: http://www3.interscience.wiley.com/cgi-bin/fulltext/119876423/PDFSTART
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- This paper is published as:
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Cunningham, Gary, Lars Hassel and Henrik Nilsson, (2008), 'A Study of the Provision of Environmental Information in Financial Analysts Reports', Sustainable Development, Vol. 16, 3, pages 180-194
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