کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1004016 | 937728 | 2011 | 15 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Financial analysts' evaluation of enhanced disclosure of non-financial performance indicators Financial analysts' evaluation of enhanced disclosure of non-financial performance indicators](/preview/png/1004016.png)
This study examines whether enhanced disclosure of non-financial performance indicators influences financial analysts’ decision processes and the information they pay attention to when performing stock-price valuations. These questions are addressed through a verbal protocol study that examines the information-processing behaviours and types of information used by analysts in valuing companies. The protocol analysis provides a detailed, descriptive analysis of the use of non-financial performance indicators in this task.The results demonstrate considerable attention to non-financial performance indicators. However, that attention was asymmetric depending on the trend-direction of the financial information. Financial information received greater attention when the trend was negative whereas non-financial performance indicators received greater attention when the financial information showed positive trends. Overall, these results elucidate the processes by which analysts utilise non-financial performance information in making valuation and subsequent investment decisions.
Journal: The British Accounting Review - Volume 43, Issue 2, June 2011, Pages 87–101