Sustainability Report Publication and Bank Share Price: Evidence from Saudi Arabia Stock Markets

• 발행기관: 한국유통과학회
• 저자명: Mualla Ali ALHARBI Mahfoudh Hussein MGAMMAL Ebrahim Mohammed AL-MATARI
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.2, 41~55쪽, 전체 15쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.02.28

영문 초록

We examine the effects of the sustainability report (SURE) and investment decision on share price (SPRC). Explore whether the sustainabilityreport changes the value-relevance of financial accounting variables indirectly. It is evident that the number of banks is only 12, which areall banks in Saudi Arabia, and we have included all of them in the final sample. Moreover, the same number of banks applied for the analysisconcerning the accounting variables. This article utilizes a panel dataset from a sample of Saudis registered banks from the first quarterof 2014 to the last quarter of 2018. We utilize a balanced sample that contains all banks listed in Tadawul, 240 observations. Run GLMregression to tests the relationships. Findings exhibit that investors value the complementary disclosure of accounting information providedin SURE, and this disclosure produces a positive effect on SPRC. The SURE figure is robustly significant, suggesting that the market assignsa positive-significant correlation to the further information in the SURE. The indirect effects show that BPS×SURE is a positive-significanteffect on SPRC, whereas EPS×SURE is positively-insignificant. The analysis shows that SURE’s value relevance conforms through SaudisBanks, consistent with the hypothesis that diverse institutional perspectives probably influence the value-relevance of SURE.

목차

Ⅰ. Introduction

Ⅱ. Literature Review

Ⅲ. Research Hypotheses

Ⅳ. Research Design

Ⅴ. Conclusions and Remarks

키워드

Sustainability Report CSR Disclosure Sustainability Accounting Corporate Responsibility Corporate Social Responsibility