Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/41313
Title: Sustainability disclosure, dominant owners and earnings informativeness
Authors: Bona-Sánchez, Carolina 
Pérez-Alemán, Jerónimo 
Santana-Martin, Domingo J. 
UNESCO Clasification: 5311 Organización y dirección de empresas
59 Ciencia política
Keywords: Corporate social responsibility
Earnings informativeness
Dominantowners
Issue Date: 2017
Journal: Research in International Business and Finance 
Abstract: Focusing on an environment where ownership concentration is prevalent and where sustainability disclosure is not a new phenomenon, we investigate the effect that communication via social responsibility reporting has on earnings informativeness. We further address the moderating role of the dominant owner's voting-cash flow wedge in the relation between sustainability disclosure and earnings informativeness. We show that communication via social responsibility reporting provides additional information to market participants to assess earnings informativeness. Furthermore, we show that the positive relationship between sustainability reporting and earnings informativeness intensifies as the dominant owner's voting-cash flow wedge increases. Our results are consistent with sustainability disclosure reducing investors' and other stakeholders' uncertainty, thereby helping them better interpret financial information.
URI: http://hdl.handle.net/10553/41313
ISSN: 0275-5319
DOI: 10.1016/j.ribaf.2016.07.020
Source: Research in International Business and Finance[ISSN 0275-5319],v. 39, p. 625-639
Appears in Collections:Artículos
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