【报告摘要】

This study aims to examine the determinants and consequences of broker in-house ESG research. Using manually collected brokerage ESG research data, we find that the provision of in-house ESG research is positively related to both demand-side factors (client demand, internal demand, and local ESG awareness) and supply-side factors (broker size and coverage of sustainable industries). In terms of the consequences of such research, we find that in-house ESG research is associated with improved earnings forecast accuracy and informativeness in industries where ESG is more salient, including environmentally sensitive industries, controversial industries, and industries with more Sustainability Accounting Standards Board (SASB) disclosure topics. However, as the extent and quality of in-house ESG research increases, we also find forecast accuracy in other industries also improves. Finally, we find that ESG research supports equity analysts in both the discovery and interpretation of ESG information.

【报告人简介】

Lily Chen，澳洲国立大学会计系副教授。她的研究兴趣包括财务报告和披露、财务分析师、公司治理、ESG、综合报告和机器学习。她的研究成果发表在The Accounting Review、Accounting, Organizations and Society、Journal of Banking & Finance、Journal of Business Finance and Accounting、Journal of Management Accounting Research、Journal of Business Ethics、Accounting and Finance、Journal of International Accounting Research、IEEE Transactions on Knowledge and Data Engineering、Natural Language Engineering 等国际期刊。担任Pacific Accounting Review的编辑，Accounting and Finance、Meditari Accountancy Research 编辑委员会成员，澳大利亚和新西兰会计金融协会（AFAANZ）的董事会成员。

【特别提醒】

未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。

撰稿：曲琦审核：许浩然单位：东北财经大学会计学院、辽宁省资本市场财务与会计研究生创新与学术交流中心