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Empirical investigations into corporate reporting in Europe : financial market perspective on determinants and consequences of sustainability and digital reporting

  • This paper-based dissertation comprises five essays dealing with corporate sustainability and digital reporting and is structured in six chapters. The first chapter is the introduction and provides an overview of the structure and aims of the dissertation, lays out the contribution of the work, and introduces the five manuscripts. The second chapter, respectively the first manuscript, deals with the consequences of mandatory sustainability reporting in Europe. Specifically, the study deals with the question whether Directive 2014/95/EU has achieved its objectives of increasing reporting quantity and quality. In the third chapter, the sustainability reports of the largest European firms are analyzed using computer-aided text analysis. This study investigates whether and how external assurance of sustainability reports is beneficial from the viewpoint of report transparency, which is proxied by reporting scope, optimism, and readability. In the fourth chapter, the role of corporate sustainability in the context of M&A transactions is examined, precisely whether sustainability influences the premia paid in M&A transactions. The fifth and the sixth chapters center around the voluntary usage of online financial reporting (OFR) in Europe. While the fifth chapter is concerned with the usage and empirical determinants of OFR, the analysis in the sixth chapter examines the impact of OFR on the financial market, specifically on analyst following and stock liquidity.

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Document Type:Doctoral Thesis
Author:Philipp Ottenstein
Referee:Henning ZülchORCiD, Tobias DauthORCiD
Chairs and Professorships:Chair of Accounting and Auditing
Full text/ URN:urn:nbn:de:bsz:14-qucosa2-772760
Place of publication:Leipzig
Year of Completion:2021
Page Number:VIII, 134
Date of final exam:2021/12/10
Tag:Corporate reporting; Digital reporting; Directive 2014/95/EU; Financial markets; Mergers & acquisitions
Ottenstein, Philipp: From voluntarism to regulation: effects of directive 2014/95/EU on sustainability reporting in the EU. Ottenstein, Philipp: External assurance and transparency in CSR reporting - European evidence. Ottenstein, Philipp: Does corporate social responsibility impact mergers & acquisition premia? New international evidence. Ottenstein, Philipp: The use and determinations of online financial reports in Europe - an empirical investigation of listed firms. Ottenstein, Philipp: Do online financial reports actually improve the information environment? An empirical investigation of European listed firms.
Licence (German):License LogoUrheberrechtlich geschützt