Financial Analysts and ESG Factors in Listed Companies: A Critical Review and Future Directions

Fatima Berrada () and Siham Meknassi ()
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Fatima Berrada: ISCAE Morocco
Siham Meknassi: ISCAE - Morocco

New Challenges in Accounting and Finance, 2024, vol. 12, 14-29

Abstract: This paper aims to provide a comprehensive and critical literature review of pivotal studies examining the interaction between analysts coverage and publicly traded companies' disclosure of ESG practices. It explores how analysts' coverage influences corporate sustainability and identifies gaps for future research. The review highlights that analysts catalyze corporate sustainability by driving ESG adoption, fostering transparency, and promoting responsible investment practices. This dynamic relationship benefits the companies and contributes to the broader goal of creating sustainable and resilient financial markets. However, results are more robust in developed markets, while evidence for emerging markets remains limited. This study offers a critical perspective on the relationship between analysts' coverage and ESG practices, addressing an area of growing interest in sustainable finance. By identifying gaps in the existing literature and proposing a research agenda, the paper contributes to understanding how analysts influence corporate sustainability and market practices.

Keywords: ESG Practices; Analyst Coverage; Corporate Sustainability; Financial Markets; Sustainable Finance (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bco:ncafaa::v:12:y:2024:p:14-29

DOI: 10.32038/NCAF.2024.12.02

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