A comparison of analysts’ and investors’ information efficiency of corporate social responsibility activities
Grace Il Joo Kang,
Kyongsun Heo,
Sungmin Jeon
Abstract:Purpose
This paper aims to examine the extent to which sell-side analysts efficiently incorporate firms’ corporate social responsibility (CSR) activities into their earnings forecasts. In addition, this paper also investigate the CSR information efficiency of analysts vis-à-vis that of investors.
Design/methodology/approach
This paper measures CSR activities by using CSR strength and CSR concern scores from the Morgan Stanley Capital International Environmental, Social and Governance database. This paper use… Show more
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