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A study of the provision of environmental information in financial analysts' research reports

Author

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  • Henrik Nilsson

    (Umeå School of Business, Umeå University, Umeå, Sweden)

  • Gary M. Cunningham

    (Umeå School of Business, Umeå University, Umeå, Sweden)

  • Lars G. Hassel

Abstract

Reporting of environmental information along with financial information has become an important research topic. Research to date has focused on the nature of the information reported by companies. This study extends prior research by examining the inclusion of environmental information by financial analysts in their research reports on companies in the chemical and in the oil and gas industries. Both companies and financial analysts are divided into subsets by geographic region, Europe and North America. Results show that only 35 per cent of financial analysts' reports have environmental information. Those reports that do have such information have more environmental information for North American companies than for European companies and analysts tend to report more information for companies in their regions. The chemical industry receives more attention, especially for downside information. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Henrik Nilsson & Gary M. Cunningham & Lars G. Hassel, 2008. "A study of the provision of environmental information in financial analysts' research reports," Sustainable Development, John Wiley & Sons, Ltd., vol. 16(3), pages 180-194.
    • Handle: RePEc:wly:sustdv:v:16:y:2008:i:3:p:180-194
    DOI: 10.1002/sd.363
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    References listed on IDEAS

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    4. Chris Fayers & Chris Cocklin & Doug Holmes, 2000. "Environmental Considerations In The Decisions Of Australian Investment Professionals," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 173-201.
    5. Ilinitch, Anne Y. & Soderstrom, Naomi S. & E. Thomas, Tom, 1998. "Measuring corporate environmental performance," Journal of Accounting and Public Policy, Elsevier, vol. 17(4-5), pages 383-408.
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    Cited by:

    1. Li, Shihan & Liu, Qingfu & Lu, Lei & Zheng, Kaixin, 2022. "Green policy and corporate social responsibility: Empirical analysis of the Green Credit Guidelines in China," Journal of Asian Economics, Elsevier, vol. 82(C).
    2. Xueming Luo & Heli Wang & Sascha Raithel & Qinqin Zheng, 2015. "Corporate social performance, analyst stock recommendations, and firm future returns," Strategic Management Journal, Wiley Blackwell, vol. 36(1), pages 123-136, January.
    3. Griffin, Paul A. & Neururer, Thaddeus & Sun, Estelle Y., 2020. "Environmental performance and analyst information processing costs," Journal of Corporate Finance, Elsevier, vol. 61(C).

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