Disclosure of information on intellectual capital and market information needs: a Delphi explorative study

Publication d'informations sur le capital immatériel et attentes des investisseurs: une étude exploratoire par la méthode Delphi

Yosra Bejar ()
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Yosra Bejar: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], CEMANTIC - Centre d'Études et de recherches en Management et TIC - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris]

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Abstract: Through an opinion study developed with financial analysts and portfolio managers, we identified a list of information most likely used by investors to make investment decisions. We establish, through their answers to the Delphi methodology, the existence of a consensus about 19 pieces of information on intellectual capital likely to be published. A comparison between financial analysts- and portfolio managers- responses show that there is no difference in their opinions. The two groups of experts seem to grant the same importance to the various pieces of information selected on the list. This result justifies the interviewing exclusively financial analysts to account for investors- information needs in future research.

Keywords: Financial markets; Non financial information; Intellectual capital; Opinion study; Delphi; Analysts; Portfolio managers; Capital immatériel; Informations non financières; Analystes; Gérants de portefeuilles; Marchés financiers; Enquête d'opinion (search for similar items in EconPapers)
Date: 2009-12
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Published in Comptabilité Contrôle Audit / Accounting Auditing Control, 2009, 15 (2), pp.165-192. ⟨10.3917/cca.152.0165⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00514402

DOI: 10.3917/cca.152.0165

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