Corporate governance mechanisms and intellectual capital
Purpose – The purpose of this paper is to identify the corporate governance characteristics of Spanish companies included in the Ibex35 stock price index that influence the voluntary information disclosure policy regarding their Intellectual Capital.Design/methodology/approach – The methodology used...
| Autores: | , , |
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2017 |
| País: | Brasil |
| Recursos: | Fundação Escola de Comércio Álvares Penteado (FECAP) |
| Repositorio: | Revista Brasileira de Gestão de Negócios (Online) |
| Idioma: | inglés español |
| OAI Identifier: | oai:ojs.emnuvens.com.br:article/3024 |
| Acesso em linha: | https://rbgn.fecap.br/RBGN/article/view/3024 |
| Access Level: | acceso abierto |
| Palavra-chave: | Intellectual capital information disclosure corporate governance ownership structure board of directors Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. |
| Resumo: | Purpose – The purpose of this paper is to identify the corporate governance characteristics of Spanish companies included in the Ibex35 stock price index that influence the voluntary information disclosure policy regarding their Intellectual Capital.Design/methodology/approach – The methodology used was content analysis of 115 annual reports from 23 Ibex35 companies over five years; this allowed for the development of an index to quantify Intellectual Capital information.Findings – Based on Agency-Stakeholders Theory postulates, the main results reveal that companies that disclose most information about their Intellectual Capital are those in which managers have greater managerial ownership, fewer independent directors, separation of functions between the chairman and the chief executive, and larger Boards of Directors.Originality/value – With this study, we contribute to agency-stakeholder theory by analyzing a non-Anglo-Saxon market (characterized by strong executive power and low protection of minority shareholders and other stakeholders), stating that certain characteristics of Corporate Governance condition the disclosure of Intellectual Capital. |
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