Suárez Suárez, Nuria
Loading...
Email Address
person.page.identifierURI
Birth Date
Job Title
Last Name
Suárez Suárez
First Name
Nuria
person.page.departamento
Gestión de Empresas
person.page.instituteName
ORCID
person.page.observainves
person.page.upna
Name
- Publications
- item.page.relationships.isAdvisorOfPublication
- item.page.relationships.isAdvisorTFEOfPublication
- item.page.relationships.isAuthorMDOfPublication
2 results
Search Results
Now showing 1 - 2 of 2
Publication Open Access Complexity is never simple: intangible intensity and analyst accuracy(SAGE, 2020) Ferrer Zubiate, Elena; Santamaría Aquilué, Rafael; Suárez Suárez, Nuria; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de EmpresasWe examine the relationship between intangible intensity and the accuracy of analyst forecasts. Using an international sample of 2,200 firms during 2000–2016, we show that analyst accuracy decreases significantly when intangible intensity grows. In exploring the determinants of this effect, we distinguish between firm risk and the risk associated with intangibles. Our results reveal the role of financial reporting quality, ownership structure, and institutional quality in moderating the relationship between intangible intensity and analyst accuracy. Analyst forecast accuracy acts as a channel through which the higher levels of information asymmetry associated with intangible intensity affect the cost of equity. Our results are robust to different intangible intensity measures; mandatory changes in financial reporting standards; the implementation of transparency rules in certain industry sectors; and financial crisis periods. We have devised alternative econometric tools that deal with potential sample selection bias and the dynamics of our empirical model.Publication Open Access Does analyst information influence the cost of debt? Some international evidence(Elsevier, 2019) Ferrer Zubiate, Elena; Santamaría Aquilué, Rafael; Suárez Suárez, Nuria; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de EmpresasWe examine the contribution of analyst forecasting accuracy in reducing the average total cost of debt to firms. Our results reinforce the importance of analyst accuracy as a mechanism for reducing information asymmetries in the market, which is important to increase firms' access to available investment funding. A significant level of institutional and bank-held ownership serves as a substitution mechanism which mitigates the capacity of analyst accuracy to reduce information risk. External governance mechanisms also moderate the role played by analyst accuracy in the reduction of the cost of corporate debt. Our empirical findings are robust to different model specifications including the potential effect of the legal origin, to the consideration of an alternative proxy for the total cost of debt, to the inclusion of additional analyst-characteristics and stock-level characteristics.