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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/10734

Title: Determinants of sell-side financial analysts’ use of non-financial information
Authors: LYBAERT, Nadine
ORENS, Raf
Issue Date: 2010
Publisher: INST CHARTERED ACCOUNTANTS ENGLAND & WALES, 145 LONDON ROAD, KINGSTON-UPON-THAMES KT2 6SR, SURREY, ENGLAND
Citation: ACCOUNTING AND BUSINESS RESEARCH, 40(1). p. 39-53
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 earnings informativeness of a firm's financial statement information proxied by leverage and stock return 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.
Notes: [Orens, Raf] Lessius KU Leuven, Dept Business Studies, B-2000 Antwerp, Belgium. [Lybaert, Nadine] Hasselt Univ KIZOK, Hasselt, Belgium.
URI: http://hdl.handle.net/1942/10734
ISI #: 000275254100002
ISSN: 0001-4788
Category: A1
Type: Journal Contribution
Validation: ecoom, 2011
Appears in Collections: Research publications

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