Sustainability disclosure quality and firm value: the moderating effect of firm visibility

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dc.contributor.advisorReimsbach, Daniel
dc.contributor.authorSfikopoulos, Aris-Filippos
dc.date.issued2019-08-20
dc.description.abstractThis study examines the relationship between sustainability disclosure quality and firm value as well as the role of firm visibility in this relationship. Firm visibility is defined as the degree to which institutions own, and analysts follow, a company’s stock. To answer the research question panel data regression techniques were used for a sample of 602 European companies across the years 2014 to 2017. The results of this study showed mostly insignificant and mixed relationships; however there were indications that could place firm visibility as a moderator in the relationship between the quality of sustainability disclosures and firm value. The conclusion of this thesis is that superior disclosure does not always lead to an increase in firm value. This study is the first to introduce firm visibility in the form of institutional ownership as a moderator in the relationship between sustainability disclosure quality and firm value and also has practical relevance as it provides insights to managers of the importance of institutional investor presence in their firm.en_US
dc.embargo.lift10000-01-01
dc.embargo.typePermanent embargoen_US
dc.identifier.urihttps://theses.ubn.ru.nl/handle/123456789/8008
dc.language.isoenen_US
dc.thesis.facultyFaculteit der Managementwetenschappenen_US
dc.thesis.specialisationAccounting & Controlen_US
dc.thesis.studyprogrammeMaster Economicsen_US
dc.thesis.typeMasteren_US
dc.titleSustainability disclosure quality and firm value: the moderating effect of firm visibilityen_US
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