Analysts’ recommendations on peer-relative comparable sustainability disclosure

Jamal A. Nazari and Ehsan Poursoleyman

Finance Research Letters, 2024, vol. 64, issue C

Abstract: This study delves into the financial impact of standardized sustainability disclosure on industry-wide risks and opportunities. Focusing on U.S. firms adhering to Sustainability Accounting Standards Board standards, our findings reveal heightened analyst coverage and favorable recommendations. Notably, these recommendations favor buy positions while discouraging sell positions. The research provides ex-post evidence on the financial implications of peer-relative standardized sustainability reporting, highlighting its value relevance for financial analysts’ recommendations.

Keywords: Analysts’ recommendations; ISSB; Materiality; Peer-relative sustainability; SASB (search for similar items in EconPapers)
JEL-codes: G14 M14 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324005166

DOI: 10.1016/j.frl.2024.105486

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