References of "Weber, Véronique 50026544"
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See detailThe effect of risk disclosure on analyst following
Derouiche, Imen UL; Muessig, Anke UL; Weber, Véronique UL

in European Journal of Finance (in press)

Prior research shows that financial analysts play an important information intermediary role in France. This study extends earlier research to examine the effect of risk disclosure on the number of ... [more ▼]

Prior research shows that financial analysts play an important information intermediary role in France. This study extends earlier research to examine the effect of risk disclosure on the number of analysts following listed firms. Using a unique dataset of French firms on the 120 SBF index over 2007−2015, the results show a positive and significant relation between risk disclosure and analyst following, suggesting that firms having greater risk disclosure attract more financial analysts. These findings provide empirical support to the argument that analysts incur lower costs of information gathering in firms with greater risk disclosure. The demand for analyst services is also more valuable in these firms, given their potentially high exposure to risks, implying greater analyst following. Overall, our results are in line with prior literature highlighting that analysts’ activities complement annual report disclosures and, generally, corporate disclosures. [less ▲]

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See detailThe relevance of risk disclosure and the role of readability and comparability
Weber, Véronique UL; Muessig, Anke UL

Scientific Conference (2020, June 05)

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See detailInformation Content of Systematic and Idiosyncratic Risk Disclosure
Weber, Véronique UL; Muessig, Anke UL

Scientific Conference (2019, October 24)

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See detailEffect of firm regulatory focus on risk disclosure: Evidence from UK strategic reports
Weber, Véronique UL

Scientific Conference (2019, August 29)

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See detailInformation Content of Systematic and Idiosyncratic Risk Disclosure
Weber, Véronique UL; Muessig, Anke UL

Scientific Conference (2019, July 04)

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See detailRisk disclosure and analyst following:A study of French listed firms
Derouiche, Imen UL; Muessig, Anke UL; Weber, Véronique UL

Scientific Conference (2018, December 17)

In this study, we examine the effect of risk disclosure on the number of analysts following a firm using a sample of non financial and non utilities listed companies belonging to the 120 SBF index over ... [more ▼]

In this study, we examine the effect of risk disclosure on the number of analysts following a firm using a sample of non financial and non utilities listed companies belonging to the 120 SBF index over the period 2007−2015. We also investigate the role that information asymmetry plays in this relationship. Our results show a positive and significant association between risk disclosure and analyst following, suggesting that firms providing higher risk disclosure attract more analysts, probably because of the low cost of gathering information on more transparent firms. However, a high degree of information asymmetry mitigates this positive effect, indicating that risk disclosure may not be a sufficient incentive for analyst following. Thus, although the analyst works as an information intermediary, the high information asymmetry seems to act as a burden making the cost of following those high risk disclosure firms outweighing the benefits associated with it. [less ▲]

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See detailInformation Content of Systematic Risk Disclosure
Weber, Véronique UL; Muessig, Anke UL

Scientific Conference (2018, September)

We analyse the relation between systematic risk disclosure, which is the description of a company’s exposure to systematic risk factors and its influence on investors’ risk perception for a sample of UK ... [more ▼]

We analyse the relation between systematic risk disclosure, which is the description of a company’s exposure to systematic risk factors and its influence on investors’ risk perception for a sample of UK listed firms from 2017 to 2015. Our results show that investors react to the systematic component of risk exposure description in the annual report; the information is incorporate into the capital market. For annual reports of financial years ending in 2013 or after, the relation between systematic risk disclosure and investors’ risk perception is negative compared to a positive relation for the annual reports ending before 2013. The mandatory strategic report introduced in 2013, in which firms are required to describe their risk exposure, seems to foster more timely description of risks and uncertainties. Therefore, firms tend to solely update the risk information in their annual reports in subsequent years and thus they resolve known risk factors rather than introducing new ones. [less ▲]

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See detailRisk disclosure and analyst following: a study of French listed firms
Derouiche, Imen UL; Muessig, Anke UL; Weber, Véronique UL

Scientific Conference (2018, September)

In this study, we analyse the association between risk disclosure and analyst following for a sample of non-financial French listed firms from 2007 to 2015. We identify the number of sentences, the risk ... [more ▼]

In this study, we analyse the association between risk disclosure and analyst following for a sample of non-financial French listed firms from 2007 to 2015. We identify the number of sentences, the risk words, the risk related sentences, and the risk factors as risk disclosure quantity. Company-specific risk factors, industry-specific risk factors, numeric intensity, the degree of similarity, and the degree of boilerplate measure risk disclosure quality. On the aggregated level, the quantity of risk information provided is not significantly associated with analyst following. For the quality, results show that the quality of risk disclosure is an important determinant of analysts’ decision to follow a firm. The higher the quality, expressed as less similar language and more revised information, the more likely it is that analysts follow the firm. From a theoretical perspective, this suggests that analysts are information intermediaries and not information providers. On the non-aggregated level, for the individual quantity measures, the results are ambiguous. For the individual quality measures, results on the aggregated level are confirmed. [less ▲]

Detailed reference viewed: 126 (23 UL)