Universität zu Köln

Steinmeier, Maria and Stich, Michael (2019). Does Sustainability Assurance Improve Managerial Investment Decisions? Eur. Account. Rev., 28 (1). S. 177 - 210. ABINGDON: ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD. ISSN 1468-4497

Full text not available from this repository.

Abstract

This study analyzes the effect of sustainability assurance (SA) on managerial investment decisions in terms of sustainability investment (SI) efficiency. We hypothesize that SA improves the set of information available for managerial decision making, resulting in higher SI efficiency. Further, we argue that SA reduces information asymmetry between managers and investors, which enables investors to more effectively monitor a firm's management, thus again leading to higher SI efficiency. Empirical findings for an international sample support these links. Moreover, we find weak evidence that SA provided by an auditor is associated with a stronger effect on SI efficiency. In additional analyses, we find weak evidence that the association of SA and SI efficiency is more pronounced if the SA is provided on a higher scope, on a higher level, and if other governance mechanisms are weak.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Steinmeier, Maria UNSPECIFIED UNSPECIFIED UNSPECIFIED Stich, Michael UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-139750
DOI:	10.1080/09638180.2017.1412337
Journal or Publication Title:	Eur. Account. Rev.
Volume:	28
Number:	1
Page Range:	S. 177 - 210
Date:	2019
Publisher:	ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Place of Publication:	ABINGDON
ISSN:	1468-4497
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language CORPORATE SOCIAL-RESPONSIBILITY; MANAGEMENT CONTROL-SYSTEMS; INFORMATION ASYMMETRY; NONFINANCIAL DISCLOSURE; EARNINGS QUALITY; CSR ASSURANCE; COST; IMPACT; REAL; ACCOUNTANTS Multiple languages Business, Finance Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/13975