The effect of D&O insurance on analysts' earnings forecast accuracy: empirical evidence from China

被引：0
作者：
Xu, Rujun [1 ,2 ,3 ]
Yang, Siying [1 ]
Wan, Mengfei [4 ]
机构：
[1] Hubei Univ Technol, Sch Econ & Management, Wuhan, Hubei, Peoples R China
[2] Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Hubei, Peoples R China
[3] Hubei Univ Technol, Hubei Digital Ind Econ Dev Res Ctr, Wuhan, Hubei, Peoples R China
[4] Zhongnan Univ Econ & Law, Sch Accounting, Wuhan 430073, Hubei, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2025年
基金：
中国博士后科学基金; 中国国家自然科学基金;
关键词：
D&O insurance; analysts' earnings forecast accuracy; corporate governance; new securities law; OFFICERS LIABILITY INSURANCE; DIRECTORS;
D O I：
10.1080/13504851.2025.2489782
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the impact of directors' and officers' insurance (D&O insurance) on analysts' earnings forecast accuracy using data from China' s A-share listed companies between 2013 and 2022. We find that D&O insurance improves forecast accuracy by enhancing corporate disclosure and governance. Further analysis reveals that this effect is more substantial in firms with higher average age, higher average education, lower audit quality, and a weaker regulatory environment.
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页数：6
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