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  • Bài trích
  • The contents of assurance statements for sustainability reports and information asymmetry /
Tác giả CN Stephan Fuhrmann
Nhan đề The contents of assurance statements for sustainability reports and information asymmetry / Stephan Fuhrmann, Christian Ott, Elisabeth Looks, Thomas W. Guenther
Thông tin xuất bản 2017.
Mô tả vật lý p. 369-400.
Tóm tắt This paper investigates how the assurance of sustainability reports enhances the credibility of such reports in the eyes of the investors and, thus, results in lower information asymmetries, as measured by bid-ask spreads. We measure the assurance of sustainability reports based on a content analysis of the assurance statements in which the assurance providers describe the design of the assurance process. For a matched sample of 442 STOXX 600 Europe companies with and without assured sustainability reports, our results indicate that a high-quality design of the assurance process reduces the level of information asymmetry. While an assurance process substantiating a high assurance level decreases information asymmetries, an assurance process that ensures only a moderate assurance level is insufficient. If an assurance provider performs tests of details of numerical data, this further reduces information asymmetries. For countries without regulations on sustainability reporting, we provide evidence that analytical tests of aggregated indicators, the description of the assurance provider’s competencies and the description of the sustainability assurance-specific work steps also contribute to a reduction of information asymmetries.
Thuật ngữ không kiểm soát GRI
Thuật ngữ không kiểm soát information asymmetry
Thuật ngữ không kiểm soát ISAE 3000
Thuật ngữ không kiểm soát sustainability reporting
Thuật ngữ không kiểm soát voluntary assurance,
Thuật ngữ không kiểm soát AA1000AS
Tác giả(bs) CN Christian Ott,
Tác giả(bs) CN Elisabeth Looks,
Tác giả(bs) CN Thomas W. Guenther
Nguồn trích Accounting and Business Research - Volume 47, 2017 - Issue 4
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039|a20200710164654|bhuongnt|y20180302141036|zhuett
0410 |aeng
1001 |aStephan Fuhrmann
24510|aThe contents of assurance statements for sustainability reports and information asymmetry / |cStephan Fuhrmann, Christian Ott, Elisabeth Looks, Thomas W. Guenther
260|c2017.
30010|ap. 369-400.
520 |aThis paper investigates how the assurance of sustainability reports enhances the credibility of such reports in the eyes of the investors and, thus, results in lower information asymmetries, as measured by bid-ask spreads. We measure the assurance of sustainability reports based on a content analysis of the assurance statements in which the assurance providers describe the design of the assurance process. For a matched sample of 442 STOXX 600 Europe companies with and without assured sustainability reports, our results indicate that a high-quality design of the assurance process reduces the level of information asymmetry. While an assurance process substantiating a high assurance level decreases information asymmetries, an assurance process that ensures only a moderate assurance level is insufficient. If an assurance provider performs tests of details of numerical data, this further reduces information asymmetries. For countries without regulations on sustainability reporting, we provide evidence that analytical tests of aggregated indicators, the description of the assurance provider’s competencies and the description of the sustainability assurance-specific work steps also contribute to a reduction of information asymmetries.
653 |aGRI
653 |ainformation asymmetry
653 |aISAE 3000
653 |asustainability reporting
653 |avoluntary assurance,
6530 |aAA1000AS
700 |a Christian Ott,
700 |aElisabeth Looks,
700 |aThomas W. Guenther
7730 |tAccounting and Business Research |gVolume 47, 2017 - Issue 4
890|a0|b0|c0|d0

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