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Keywords

analysts following, corporate social responsibility, firm value, mediated moderation effect

Abstract

Taking listed firms from 2010 to 2015 in China as sample,this paper analyzes the influence channel of analysts following on firm value.By constructing mediated moderation model along with re-sampling-based boot- strapping,research shows that analysts following is positively related to corporate social responsibility,corporate social responsibility is beneficial to firm value and corporate social responsibility acts as a mediator in the process of analysts following affecting firm value under the moderation of property rights.The conclusions are of great significance to clarifying the influence channel of analysts following on firm value,constructing perfect internal and external corporate governance mechanism,along with information disclosure mechanism to improve firm value.

DOI

10.16315/j.stm.2021.02.012

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