Sense-Making and Sense-Giving: Reaching Through the Smokescreen of Sustainability Disclosure in the Stock Market

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Arvidsson, SusanneLund University,Lunds universitet,Företagsekonomiska institutionen,Ekonomihögskolan,Department of Business Administration,Lund University School of Economics and Management, LUSEM (författare)

Sense-Making and Sense-Giving: Reaching Through the Smokescreen of Sustainability Disclosure in the Stock Market

Artikel/kapitelEngelska2019

Förlag, utgivningsår, omfång ...

2018-09-30
Cham :Springer Nature,2019
printrdacarrier

Nummerbeteckningar

LIBRIS-ID:oai:DiVA.org:ltu-76331
https://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-76331URI
https://doi.org/10.1007/978-3-319-93266-8_4DOI
https://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-41372URI
https://lup.lub.lu.se/record/7db9386c-c2cc-4086-a6d3-ce5ebcce79a7URI

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Språk:engelska
Sammanfattning på:engelska

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Financial analysts’ role as information intermediaries between management teams and investors is vital for the efficient allocation of resources on the stock market. The increased focus on sustainability information in corporate reports has affected financial analysts in their important work of interpreting, assessing and communicating value-added information to their clients, i.e. the investors. The challenges they face relate to the ambiguous nature of sustainability information and its difference from traditional financial information. How do analysts reach through this smokescreen? How do analysts make sense of sustainability information, and how do they give sense to this information when they provide investment advices to their investors? In this chapter, these challenges are addressed from a cognitive-frame perspective. We argue that the first part of 2000s was characterized by cognitive dissonance due to both a low social legitimacy and a low cognitive legitimacy, i.e. sustainability was not yet requested by the investors to be attended to and it was regarded too ambiguous to be relevant for being considered in a valuation context. In the latter part of 2010s, we argue that there is only a partial cognitive dissonance. At this time, sustainability information is beginning to be socially legitimate and requested by investors. However, the complexity of the situation remains. This type of information is still not considered as cognitive legitimate due to the ambiguous nature, which renders difficulties for the sense-making and sense-giving processes. The findings have implications not the least in the ongoing quest of developing frameworks, standards and legislation (e.g. the EU directive (2014/EU/95)), that opt for improving the relevance, credibility and comparability of sustainability information.

Ämnesord och genrebeteckningar

SAMHÄLLSVETENSKAP Ekonomi och näringsliv Företagsekonomi hsv//swe
SOCIAL SCIENCES Economics and Business Business Administration hsv//eng
NATURVETENSKAP Data- och informationsvetenskap Systemvetenskap, informationssystem och informatik hsv//swe
NATURAL SCIENCES Computer and Information Sciences Information Systems hsv//eng
Sustainability information
Financial analysts
Cognitive frames
Cognitive dissonance
Sense-making
Sense-giving
Social legitimacy
Cognitive legitimacy
Accounting and Control
Redovisning och styrning
Sense-giving
Sense-making
Financial analysis
sustainability information

Biuppslag (personer, institutioner, konferenser, titlar ...)

Johansson, JeanethHögskolan i Halmstad,Luleå tekniska universitet,Industriell Ekonomi,Halmstad University, Halmstad, Sweden,Centrum för innovations-, entreprenörskaps- och lärandeforskning (CIEL),Luleå University of Technology, Luleå, Sweden(Swepub:hh)jeanjo (författare)
Företagsekonomiska institutionenEkonomihögskolan (creator_code:org_t)

Sammanhörande titlar

Ingår i:Challenges in Managing Sustainable BusinessCham : Springer Nature, s. 77-10997833199326689783319932651

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Challenges in Managing Sustainable Business (Sök värdpublikationen i LIBRIS)

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Av författaren/redakt...: Arvidsson, Susan ...; Johansson, Jeane ...

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SAMHÄLLSVETENSKAP: SAMHÄLLSVETENSKA ...; och Ekonomi och näri ...; och Företagsekonomi

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Artiklar i publikationen: Challenges in Ma ...

Av lärosätet: Luleå tekniska universitet; Högskolan i Halmstad; Lunds universitet

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