The relationship between CSR reporting quality and firm value – The mediation role of analysts

Keywords
Loading...
Thumbnail Image
Authors
Issue Date
2019-07-08
Language
en
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
This thesis examines the relationship between the quality of CSR reporting and firm value with incorporating the mediation role of analysts. A panel dataset is composed from Dutch listed firms during the time period 2013-2017, which resulted in a total of 200 observations. The results show mixed and non-significant relationships between CSR reporting quality and firm value; therefore the mediation role of analyst cannot be supported by the results. However, the effect of CSR reporting quality on analyst recommendations and the effect of the analyst recommendations on firm value were significant. And when the analyst recommendation was added to the relationship between CSR reporting quality and firm value, the effect of CSR reporting quality on firm value mainly decreased. This means that only the direct and significant effect between CSR reporting quality and firm value to satisfy the mediation role of analysts lacks. The results stress the importance of the quality of CSR reporting towards firms, because the quality of the CSR reports plays a significant role in the stock recommendations of analysts to investors. This could be valuable to the managers of the firms, because the analyst recommendations significantly affect the firm value.
Description
Citation
Faculty
Faculteit der Managementwetenschappen