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Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance
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| Zeitschriftentitel: | Pacific Accounting Review |
|---|---|
| Personen und Körperschaften: | |
| In: | Pacific Accounting Review, 31, 2019, 1, S. 63-83 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Emerald
|
| Schlagwörter: |
| author_facet |
Wang, Lei Wang, Lei |
|---|---|
| author |
Wang, Lei |
| spellingShingle |
Wang, Lei Pacific Accounting Review Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance Finance Accounting |
| author_sort |
wang, lei |
| spelling |
Wang, Lei 0114-0582 Emerald Finance Accounting http://dx.doi.org/10.1108/par-09-2017-0072 <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This study examines the effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ use of corporate social responsibility (CSR) performance information in their pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>A 2 × 2 full factorial between-participants experiment is conducted.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Target-and-incentive-consistency of unexpected positive earnings news moderates the effect of CSR performance on investors’ pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>Its findings shed insights on investors’ use of a mix of CSR, financial and governance information, support the financial information elasticity effect and add to the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>The effect of inelastic financial information in mitigating the CSR information effect can benefit investors who do not plan to use a CSR investment strategy. Knowledge of investors’ conditional use of CSR information can benefit firm managers and policy makers.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>Its findings support a heretofore unexamined theoretical underpinning for the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance Pacific Accounting Review |
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10.1108/par-09-2017-0072 |
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Online |
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Wirtschaftswissenschaften |
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ElectronicArticle |
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Emerald, 2019 |
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Emerald, 2019 |
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0114-0582 |
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0114-0582 |
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2019 |
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Emerald |
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Pacific Accounting Review |
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49 |
| title |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_unstemmed |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_full |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_fullStr |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_full_unstemmed |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_short |
Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_sort |
effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| topic |
Finance Accounting |
| url |
http://dx.doi.org/10.1108/par-09-2017-0072 |
| publishDate |
2019 |
| physical |
63-83 |
| description |
<jats:sec>
<jats:title content-type="abstract-subheading">Purpose</jats:title>
<jats:p>This study examines the effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ use of corporate social responsibility (CSR) performance information in their pricing decisions.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title>
<jats:p>A 2 × 2 full factorial between-participants experiment is conducted.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Findings</jats:title>
<jats:p>Target-and-incentive-consistency of unexpected positive earnings news moderates the effect of CSR performance on investors’ pricing decisions.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Research limitations/implications</jats:title>
<jats:p>Its findings shed insights on investors’ use of a mix of CSR, financial and governance information, support the financial information elasticity effect and add to the effect of financial information on investors’ use of nonfinancial information.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Practical implications</jats:title>
<jats:p>The effect of inelastic financial information in mitigating the CSR information effect can benefit investors who do not plan to use a CSR investment strategy. Knowledge of investors’ conditional use of CSR information can benefit firm managers and policy makers.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Originality/value</jats:title>
<jats:p>Its findings support a heretofore unexamined theoretical underpinning for the effect of financial information on investors’ use of nonfinancial information.</jats:p>
</jats:sec> |
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| description | <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This study examines the effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ use of corporate social responsibility (CSR) performance information in their pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>A 2 × 2 full factorial between-participants experiment is conducted.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Target-and-incentive-consistency of unexpected positive earnings news moderates the effect of CSR performance on investors’ pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>Its findings shed insights on investors’ use of a mix of CSR, financial and governance information, support the financial information elasticity effect and add to the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>The effect of inelastic financial information in mitigating the CSR information effect can benefit investors who do not plan to use a CSR investment strategy. Knowledge of investors’ conditional use of CSR information can benefit firm managers and policy makers.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>Its findings support a heretofore unexamined theoretical underpinning for the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> |
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| spelling | Wang, Lei 0114-0582 Emerald Finance Accounting http://dx.doi.org/10.1108/par-09-2017-0072 <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This study examines the effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ use of corporate social responsibility (CSR) performance information in their pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>A 2 × 2 full factorial between-participants experiment is conducted.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Target-and-incentive-consistency of unexpected positive earnings news moderates the effect of CSR performance on investors’ pricing decisions.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>Its findings shed insights on investors’ use of a mix of CSR, financial and governance information, support the financial information elasticity effect and add to the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>The effect of inelastic financial information in mitigating the CSR information effect can benefit investors who do not plan to use a CSR investment strategy. Knowledge of investors’ conditional use of CSR information can benefit firm managers and policy makers.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>Its findings support a heretofore unexamined theoretical underpinning for the effect of financial information on investors’ use of nonfinancial information.</jats:p> </jats:sec> Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance Pacific Accounting Review |
| spellingShingle | Wang, Lei, Pacific Accounting Review, Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance, Finance, Accounting |
| title | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_full | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_fullStr | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_full_unstemmed | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_short | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_sort | effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| title_unstemmed | Effect of target-and-incentive-consistency of unexpected positive earnings news on investors’ responses to corporate social responsibility performance |
| topic | Finance, Accounting |
| url | http://dx.doi.org/10.1108/par-09-2017-0072 |