The Mediation Role of Financial Analysts’ Recommendations between Corporate Social Responsibility and Financial Performance

Abstract

This study focuses on the role of financial analysts between firm’s corporate social responsibility and market based financial performance The present study suggests that financial analysts comprise information on corporate social performance in recommendations as well as in earnings and long term growth forecasts Using regression analysis and panel ESG ASSET4 I/B/E/S databases and Thomson Reuters accounting data on companies from four Asian countries we confirm the mediation role of analysts’ recommendations and forecasts between corporate social responsibility and financial performance Furthermore we found that environmental performance is inversely related to financial performance while social performance is not significant

Date of Award	2016 Jul 26
Original language	English
Supervisor	Hui-Ching Sana Hsieh (Supervisor)