Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/92424
標題: 企業社會責任與分析師盈餘預測之關聯性實證研究
Empirical Study on the Relationship between CSR Information and Analysts Forecast Accuracy
作者: Yi-Ying Zhang
張儀潁
關鍵字: 企業社會責任;盈餘預測;公司價值;Corporate Social Responsibility;Earnings Forecast;Firm Value
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摘要: 
The issue of Corporate Social Responsibility (CSR) has become more and more popular in the pastdecades.Corporations around the world pay more attentions to CSR issue, and CSR also has played an important role among academics, practitioners, and policy makers. According to Deloitte, CSR Europe, and Euro Next (2003), 50% of analysts responded that they use CSR information. The purpose of this research is to provide empirical evidences the relationship between different kinds of CSR disclosures and forecast accuracy.

Extending previous studies of firm value and EPS prediction, we hypothesize that better CSR performance increases forecast accuracy, and worse CSR performance do not. Furthermore, we hypothesize that forecast dispersion may interact to numbers of analysts.

Our results show that better CSR performance decrease forecast errors for small-size firms. However, for big-size firms' models, better CSR performance cannot increase forecast accuracy. Analysts pay more attention to risky variables of big-size firms. In our causality test, we found that forecast errors have interaction with numbers of analysts.
URI: http://hdl.handle.net/11455/92424
其他識別: U0005-1603201417294800
Rights: 同意授權瀏覽/列印電子全文服務,2017-04-18起公開。
Appears in Collections:財務金融學系所

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