Integrated Reporting and the Informativeness of Financial Analysts’ Stock Recommendations
Diogenis Baboukardos,
Anastasia Kopita
Abstract:Synopsis The research problem The purpose of this study was to examine the market reaction to sell-side analyst recommendation revisions issued under an integrated reporting (IR) approach. Motivation Advocates of this corporate reporting approach argue that IR enhances capital markets’ information environment by rendering investors better able to assess the value creation process of a firm. Recent empirical studies corroborate this argument. Considering the central role of financial intermediaries, we inve… Show more
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