Table 2. Comparison between Maines and... | Emerald Publishing

Table 2.

Comparison between Maines and McDaniel (2000) and Blankespoor et al. (2019)

Maines and McDaniel (2000)	Blankespoor et al. (2019)
Acquisition Search for relevant information to store for later recall; distinguish between relevant and irrelevant information	Awareness Learning that the disclosure exists
	Acquisition Obtaining the report and extracting and quantifying a disclosure signal so it is ready for use in a valuation model
Evaluation Interpretation of acquired information in a manner that enables its use
Weighting Considering the perceived relevance and reliability of the acquired information for an investment-related decision	Integration Analysing the implications of the disclosure for firm value. Combine and refine acquired signals into a valuation estimate or investment decision. Determining which disclosures are value relevant, the expected relations between each disclosure and firm value and the appropriate weights to place on each disclosure

Maines and McDaniel (2000)	Blankespoor et al. (2019)
Acquisition Search for relevant information to store for later recall; distinguish between relevant and irrelevant information	Awareness Learning that the disclosure exists
	Acquisition Obtaining the report and extracting and quantifying a disclosure signal so it is ready for use in a valuation model
Evaluation Interpretation of acquired information in a manner that enables its use
Weighting Considering the perceived relevance and reliability of the acquired information for an investment-related decision	Integration Analysing the implications of the disclosure for firm value. Combine and refine acquired signals into a valuation estimate or investment decision. Determining which disclosures are value relevant, the expected relations between each disclosure and firm value and the appropriate weights to place on each disclosure

Source(s): Table by authors