财务报告质量与投资者意见分歧*

IF 1.6 Q3 BUSINESS, FINANCE
Diogo Silva, António Cerqueira
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引用次数: 2

摘要

本研究的主要目的是分析财务报告质量与投资者意见分歧的关系。我们专注于在伦敦证券交易所上市的英国公司。意见分歧是通过两个基于意外交易量的指标来衡量的,另一个指标是分析师对未来一年和两年预测的差异。先前的文献表明,公司披露的数量与分析师预测的离散度呈负相关。我们的研究结果表明,披露的质量与意见分歧呈负相关,无论是以意外交易量的度量还是分析师预测的分散来表示。财务报告质量不仅在报告披露后的几个月内影响意见分歧,而且在随后的一整年也会影响意见分歧。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Financial Reporting Quality and Investors' Divergence of Opinion*

The main purpose of this study is to analyze the association of financial reporting quality and investors' divergence of opinion. We focus on UK firms listed on the London Stock Exchange. Divergence of opinion is measured by two proxies based on unexpected trading volume and by dispersion in analysts' forecasts made one and two years ahead. Previous literature shows that the amount of firms' disclosure is negatively associated with the dispersion in analysts' forecasts. The results obtained in our study show that the quality of the disclosure is negatively associated with divergence of opinion, whether it is proxied by measures of unexpected trading volume or dispersion in analysts' forecasts. Financial reporting quality affects divergence of opinion not only in the months that immediately follow the disclosure of the reports but in the whole year that follows.

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来源期刊
Accounting Perspectives
Accounting Perspectives BUSINESS, FINANCE-
CiteScore
2.60
自引率
0.00%
发文量
30
期刊介绍: Accounting Perspectives provides a forum for peer-reviewed applied research, analysis, synthesis and commentary on issues of interest to academics, practitioners, financial analysts, financial executives, regulators, accounting policy makers and accounting students. Articles are sought from academics and practitioners that address relevant issues in any and all areas of accounting and related fields, including financial accounting and reporting, auditing and other assurance services, management accounting and performance measurement, information systems and related technologies, tax policy and practice, professional ethics, accounting education, and related topics. Without limiting the generality of the foregoing.
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