Do social and environmental disclosures impact information asymmetry?

Albert Acheampong and Tamer Elshandidy

Economics Letters, 2024, vol. 234, issue C

Abstract: We examine the impact of social and environmental disclosures (SEDs) on information asymmetry. Employing data from 145 banks from 2005 to 2021 across 19 European (EU) countries. Our findings reveal that both SEDs reduce information asymmetry by increasing market liquidity. We further find that the observed impact of such disclosures is more pronounced for banks operating in countries that pay high attention to human development.

Keywords: Social disclosure; Environmental disclosure; Market liquidity; Information asymmetry; European banks (search for similar items in EconPapers)
JEL-codes: G20 G21 G41 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:234:y:2024:i:c:s016517652300513x

DOI: 10.1016/j.econlet.2023.111487

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