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AuthorAlazzani, Abdulsamad
AuthorWan-Hussin, Wan Nordin
AuthorJones, Michael
AuthorAl-hadi, Ahmed
Available date2023-02-08T10:22:50Z
Publication Date2021-02-07
Publication NameJournal of Risk and Financial Management
Identifierhttp://dx.doi.org/10.3390/jrfm14020072
CitationAlazzani, A., Wan-Hussin, W. N., Jones, M., & Al-Hadi, A. (2021). ESG reporting and analysts’ recommendations in GCC: The Moderation role of royal family directors. Journal of Risk and Financial Management, 14(2), 72.
URIhttp://hdl.handle.net/10576/39836
AbstractThis study examines whether financial analysts consider or incorporate the environmental, social and governance disclosures (thereafter ESG) in their recommendations. We then test whether royal family directors affect this relation. Using a dataset from six Gulf Cooperation Council (GCC) countries, we find evidence that analysts’ recommendations are influenced by ESG information. Further, we find the political connection negatively moderates the relationship between sell-side analysts’ recommendations and ESG. This suggests that financial analysts may assess the ESG disclosure in those firms with the political connection of royalty, in GCC countries, as superficial compliance rather than a genuine commitment. Our results are robust when subjected to endogeneity tests.
Languageen
PublisherMDPI
Subjectenvironmental
GCC
investment recommendation
royal family directors
social and governance
TitleESG Reporting and Analysts’ Recommendations in GCC: The Moderation Role of Royal Family Directors
TypeArticle
Issue Number2
Volume Number14
ESSN1911-8074
dc.accessType Open Access


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