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Even though literature studying the determinants of non-financial disclosure (NFD) is pervasive, Latin America has been overlooked in this tradition. In this sense, scholars have not evidenced which factors compel companies in this context to report this information despite its voluntary nature. Drawing on Stakeholder Theory as a basis, we derive e...
Citations
... Unlike stewardship theory, which focuses on long-term wealth creation, stakeholder theory asserts that companies are responsible for balancing all stakeholders' interests and protecting them (Ching & Gerab, 2017;Van Puyvelde, Caers, Du Bois, & Jegers, 2011). This can be achieved by disseminating information, considering the needs of various groups, incorporating those needs into the strategic planning process, and managing their interests in routine decisionmaking processes (Duran & Rodrigo, 2018;Khaireddine et al., 2020). ...
... Stakeholder theory identifies and recognises the relationship between a company's behaviour and its impact on its stakeholders. The company must be able to act in response to complex regulations and develop a trusting, engaging, and constructive information flow with its stakeholders to attain a competitive advantage (Duran & Rodrigo, 2018;Khaireddine et al., 2020). As the company is a nexus of relationships and contracts involving multiple groups of stakeholders with different interests and goals, it must satisfy informational needs and ensure all related parties are treated fairly. ...
... As the company is a nexus of relationships and contracts involving multiple groups of stakeholders with different interests and goals, it must satisfy informational needs and ensure all related parties are treated fairly. In this regard, stakeholders have the right and power over disclosed information, which should be ethically presented (Ariyani & Hartomo, 2018;Duran & Rodrigo, 2018). ...
... Furthermore, SC4 and SC5 have an intrinsic relationship because resource availability and distribution have a significant impact on both the competitive landscape and economic development in a country. The resource-based theory also supports their interconnectedness (Duran & Rodrigo, 2018;Mohammadi et al., 2018;Wen et al., 2022). ...
The adoption of environmental, social, and governance reporting (ESGR) varies among nations due to the influence of various factors, specific to countries. Previous research has focused primarily on the institutional factors, revealing a gap in understanding the role of macroeconomic factors in the adoption of ESGR at the national level. The current study investigates various factors (including their interrelationship) that influences the successful adoption of ESGR at the country level. The study also proposes an empirical model for the efficient and effective adoption of ESGR. This pioneering study employs a structural model using Total interpretive structural modeling (TISM) method to explore the hierarchical relationship among factors. Further, Matrice d’Impacts Croisés Multiplication Appliquée áun Classement (MICMAC) analysis is administered to identify driver-dependent relationship among the factors. The study categorizes key factors influencing countries’ ESGR adoption for sustainable development at three levels (1) strategic factors which require action at the grassroots level as political stability, the attitude of elected government, and natural and human Resources, (2) operational factors which support and strengthen the adoption process as economic development, competitive landscape, technical awareness, and public behavior, and (3) performance factors directly responsible for the adoption as regulatory framework and public administrative structure of a country. The study contributes to academic knowledge by advancing theoretical perspectives, enabling comparative analyses, and fostering methodological advancements. It provides assistance to government and policymakers in establishing a robust and comprehensive ESGR landscape that supports sustainable and responsible business practices globally.
... By doing this, this paper, unlike most earlier studies that focused on established markets, offers new evidence on the sustainability issue in the context of developing economies. Our study, therefore, supports the request for additional context-specific research in poor nations (Ali et al., 2017;Duran & Rodrigo, 2018). Finally, the results add to the body of literature used to promote expanding our knowledge on the subject by offering more proof of the importance of particular factors. ...
Even though the determinants of sustainability reporting have been highly studied, the influence of Board Governance characteristics on sustainability reporting has mainly remained understudied in Africa, especially Nigeria, despite the overwhelming Business opportunities in the country. This study, therefore, investigates the influence of Board Governance on sustainability accounting and reporting, drawing insights from large businesses listed in Nigerian stock exchanges. Using a sample of 167 reports drawn from three sources—annual reports, sustainability reports, and website over the period 2015 to 2020, this study employs content analysis to quantify three layers of sustainability disclosure and fixed effects regression estimation model to predict the influence of Board governance variables on sustainability reporting quality. Our results indicate that Board governance characteristics such as Board capacity, board independence and Board Incentives are significant factors that affect sustainability reporting quality. The results further suggest that although the number of directors on the board is positively associated with the quality of sustainability reporting, CEO duality is insignificant and has a negative association with the quality of sustainability reporting. This study provides evidence that setting up long-term incentive-based compensation affects sustainability reporting positively in developing countries, such as Nigeria.
... In fact, there is a positive correlation between company size and the quality of CSR reporting, suggesting that larger-sized firms can offer a better presentation of their social responsibility practices [9]. As the size of a company increases, so does the pressure exerted on it by various stakeholders, such as investors, consumers, non-governmental organizations, and regulatory authorities, to be more transparent and report non-financial information in more detail [10]. Large companies face higher demand from these stakeholders to justify their impact on the environment and society, as well as to demonstrate their commitment to responsible practices. ...
This study investigates the determinants of integrated reporting quality in the context of basic materials and industrial companies. The motivation stems from the need to enhance reporting quality and provide guidance to companies and academia. Specific hypotheses were formulated, including the influence of profitability, company size, age, and board size on integrated reporting quality. The research aims to offer insights into these factors' impact. The study employs a mixed-method approach involving quantitative regression analysis and qualitative content analysis. Findings reveal that profitability is not a significant determinant of integrated reporting quality, while larger companies exhibit higher-quality reports. Younger firms tend to present more elaborate reports. The study validates the role of board size in enhancing reporting quality. These results contribute to refining integrated reporting standards, enhancing transparency, and guiding strategic decisions for sustainable development.
... Given the above, there are several studies (Buitendag et al., 2017;Duran & Rodrigo, 2018;Dyduch & Krasodomska, 2017;Pereira et al., 2020;Szadziewska et al., 2018;Venturelli et al., 2017Venturelli et al., , 2019 that found that the degree of disclosure of non-financial information by companies is positively related to company size. In view of the above, we formulate the following research hypothesis: 4 In Portugal, entities of public interest are those qualified by article 3 of the Legal Regime for Audit Supervision, approved under the terms of article 2 of Law no. ...
... Over the years, several studies analyzed the effect of the level of internationalization of companies on the disclosure of non-financial information (Fuster & Ortiz, 2019;Pereira et al., 2020). In the research by Duran and Rodrigo (2018), no significant relationship was found between these variables. However, Fuster and Ortiz (2019) verified the existence of a positive relationship. ...
... For these authors, companies with higher levels of profitability tend to disclose more non-financial information. Duran and Rodrigo (2018) found that 9 th International Scientific Conference ERAZ 2023 Selected Papers there is a negative and significant relationship between profitability and the disclosure of non-financial information. On the contrary, according to Buitendag et al. (2017) and Garcia-Benau et al. (2022), there is a positive and significant relationship between profitability and disclosure of non-financial information. ...
In the field of human resources, algorithmic management refers to the utilization of digital technology, artificial intelligence, and big data to develop rules and procedures that enable the automated management of human resources. Algorithmic human resource management can potentially replace human resource managers in all stages and activities of staffing, thereby significantly expediting the management process and enhancing cost- effectiveness. Through the use of artificial intelligence, algorithms develop patterns and models from which they can autonomously learn and improve the quality of decision-making in employee management. However, relying exclusively on algorithmic human resource management can lead to the emergence of discriminatory management practices, particularly when the algorithms are based on unrepresentative or biased data. Considering these factors, this paper aims to examine the fundamental characteristics, principles, application possibilities and challenges of algorithmic human resource management.
... Instead, other studies do find better compliance with integrated reporting standards, which has promoted an organizational change in companies for value creation due to good corporate governance (Giraldo-López et al., 2018;Sanches et al., 2020). One of the few studies by Duran & Rodrigo (2018) proposes to improve institutional and regulatory influence on corporate ESG reporting for better accountability to stakeholders, which is a pending research agenda in the region. ...
Abstract
Objective: This study aims to conduct a comprehensive bibliometric and literature review to describe the origin and content of research on corporate sustainability reporting in Latin America published in journals indexed in the SCOPUS, WoS, SCIELO, and REDIB databases on corporate sustainability reporting in Latin America and to contribute to its theoretical development and promote the performance and disclosure of sustainability in the region.
Methodology: The comprehensive bibliometric and literature review used a quantitative and qualitative approach, with a descriptive scope through a content analysis of the papers' origin and nature according to the established qualitative categories.
Originality/Relevance: The research contributes to increasing the body of literature on sustainability reporting research in Latin America and proposes a regional planning research to improve performance and sustainability reports with the stakeholders in the organizations of the region's countries.
Results: The results of the analysis of 75 publications in 40 journals show an increase until the 2018 period. Most of the publications were by Brazilian and Colombian authors and journals. The largest number of studies corresponds to descriptive quantitative research based on content analysis of reports prepared according to the Global Reporting Initiative (GRI). Studies mainly consider institutional and legitimacy theories. There is also an absence of studies that consider stakeholder theory, address contributions to the Sustainable Development Goals (SDGs) and deal with environmental, social and governance (ESG) reporting in the Latin American context. Social contributions: A pending research agenda is presented on Corporate Social Responsibility (CSR) and sustainability reporting in Latin American organizations as a contribution to the sustainable development in Latin America. Therefore, a regional plan of research is proposed.
... In addition, academic literature indicates that emerging markets are to some extent neglected, arguing that there is a necessity for this gap to be addressed (Yoon et al., 2019). Other research findings referring to developed countries cannot be extrapolated to developing contexts, considering that stakeholders in these settings affect differently the decision-making process related to the release of non-financial reports (Duran & Rodrigo, 2018). ...
... Some of these studies found a negative relationship between nonfinancial information disclosure and the use of earnings manipulation techniques (Khlifi & Zoauri, 2022;Gerged et al., 2020;Grimaldi et al., 2020;Yoon et al., 2019), while others discovered a positive relationship (Kuo et al., 2020;Jordaan et al., 2018;Brahmana et al., 2018;Gargouri et al., 2010). However, given the variety of motives to engage in corporate social responsibility activities (Khlifi & Zoauri, 2022;Duran & Rodrigo, 2018), as well as the numerous incentives for manipulating earnings (Nechita, 2013), the contradictory results might not be surprising. ...
... This study extends the research field by showcasing an emerging economy and fills the gap of prior research that focused on other contexts or provided inconclusive results (Grimaldi et al., 2020;Duran & Rodrigo, 2018). Concerning the research contribution, the results are noteworthy from several points of view and relevant for various stakeholders, especially for investors in terms of an increase in usefulness for the decision-making process, as well as state authorities and standard setters in assessing the impact of the new regulations. ...
... In general, scholars contend that stakeholder theory is eminently suitable for evaluating ESG through disclosure activities under the influence of stakeholderorganisation relations (Zarzycka, Krasodomska, 2021). However, some were careful to point out the insufficient explanatory power of this singular theory for corporate disclosure behaviour, especially in the context of developing economies that are largely influenced by external market forces (Appiah et al., 2016;Duran, Rodrigo, 2018). porate accounting reports are considered as economic documents that could influence economic and political arrangements and may even pique the general interests of a given organisation (Mahmud, 2020). ...
In recent years, governments and investors globally are compelling major corporate organizations to disclose important environmental, social and governance (ESG) issues. The continued flatlining of ESG reporting quality has led some parties to call on policymakers to take advantage of the distinct contextual pressure from external stakeholders to improve corporate ESG commitments. However, the relationship between external stakeholders and ESG disclosure remains ambiguous, both theoretically and empirically. Grounded in stakeholder theory, legitimacy theory, resource-based theory, and slack resource theory, this article reconceptualizes Ullmann’s 1985 model of corporate social performance to present a novel conceptual framework to examine the external stakeholders-ESG disclosure relationship. This article contributes to the literature by illustrating the mediating effect of the strategic posture and the moderating effect of corporate financial performance on corporate ESG discourse perpetuated by powerful stakeholders.
... According to the stakeholder theory, the company is considered as an open system that not only influences, but is also influenced by the external and internal environment, which is interpreted as a set of parties interested in its activities, whose interests and requirements must be taken into account and tried to satisfy, despite the fact that individual stakeholders may have diametrically opposed goals and interests or even compete with each other (Freeman, 2010). As a result, the company's development trajectory is shaped under the influence of the countervailing forces of their conflicting coalition, so the submission of non-financial reporting is associated with the need to provide stakeholders with information on the company in the process of decision-making (Owen, 2008;Dragu and Tiron-Tudor, 2014;Duran and Rodrigo, 2018). Due to this, in practice, in the disclosure of non-financial information the emphasis shifts towards the stakeholders which are regarded by the company as the most important for its survival and prosperity (including investors) focusing on the primary satisfaction of their requests and interests (Livesey, 2002;Deegan 2019;Dameri and Ferrando, 2022). ...
The principles of non-financial reporting are a prerequisite for the harmonization of reporting standards and a guarantee of comparability of reporting indicators. A lack of a long-term and established practice in preparing non-financial reporting does not allow forming its principles as generally accepted rules for the preparation of reporting data. Therefore, the system of principles of non-financial reporting should be based on the results of scientific research on the theories of disclosure of non-financial information, including publications indexed in the SCOPUS. Based on the results of the bibliometric and linguistic analysis of the selected scientific publications, the correspondence was established between the content substance of the postulates of the most popular motivational theories of non-financial reporting (agency theory, institutional theory, legitimacy theory, stakeholder theory) and individual components of the mechanism of disclosure of non-financial information. The identified causal relationships allowed formalizing the principles of preparing non-financial statements and combining them into a coherent system that covers informational, legal, organizational and communicative aspects of the reporting mechanism and consists of such principles as: application of differentiated metrics; the predominance of substance over form; business accountability; access to information of public interest; reporting coherence; reporting preparation periodicity; full coverage; consistent and continuous disclosure. The formed system of principles of non-financial reporting comprehensively takes into account the peculiarities of the process of preparation of reporting data which mainly contains non-financial information. Therefore, its use as a basis for non-financial reporting standards will contribute to their harmonization and increase the comparability of reporting data.
... Chauvey et al., 2015;Venturelli et al., 2017), the reasons that lead companies to adopt this practice (e.g. Duran and Rodrigo, 2018;Thorne et al., 2014) and the effects produced in terms of legitimacy (e.g. Cho and Patten, 2007;De Villiers and Alexander, 2014). ...
Purpose
Focusing on the Agri-Food and Beverage sector, the paper investigates the direct effect of worldwide mandatory non-financial disclosure on several financial dimensions as well as its moderating effects on the relationship between sustainability and financial performance.
Design/methodology/approach
The authors performed fixed-effect regressions on a sample of 180 global listed companies, considering a period of eight years. The authors also tested the moderating effects of non-financial disclosure regulation on the relationship between sustainability and financial performance.
Findings
The authors found a positive direct impact of mandatory non-financial disclosure on Operating Return on Asset, Return on Equity and Return on Sales. The analysis also highlighted the negative moderating effects of non-financial reporting regulation on the relationship between sustainability issues and financial performance. As for the Cost of Debt, the authors found mixed results.
Research limitations/implications
This study considers a short-term perspective focusing on a limited sample composed of companies playing a key role in the global agri-food system.
Practical implications
The paper identifies which financial performance dimensions are positively or negatively affected by mandatory non-financial disclosure. Accordingly, managers can rearrange corporate activities to deal with further reporting normative requirements concurrently preserving financial performances and fostering corporate sustainability.
Social implications
This study recommends fostering mandatory non-financial disclosure to increase corporate transparency fostering the sustainability transition of the Agri-Food and Beverage industry.
Originality/value
The paper highlights global mandatory non-financial disclosure effects on financial performance considering a sector that is cross-cutting impactful on plural sustainability issues.
