Abstract
This study delves into the financial impact of standardized sustainability disclosure on industry-wide risks and opportunities. Focusing on U.S. firms adhering to Sustainability Accounting Standards Board standards, our findings reveal heightened analyst coverage and favorable recommendations. Notably, these recommendations favor buy positions while discouraging sell positions. The research provides ex-post evidence on the financial implications of peer-relative standardized sustainability reporting, highlighting its value relevance for financial analysts’ recommendations.
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