Purpose
This study aims to identify the impacts of corporate governance (CG) and institutional context on multilatinas’ corporate reporting quality (CRQ). CG and institutional context facilitate the ...reduction of agency problems and the existence of accountability processes that minimize information asymmetries.
Design/methodology/approach
A panel data model was developed from a sample of 77 multilatinas studied during the 2014–2020 period. Different estimations were carried out through the panel data model to identify the impact of CG and institutional context on CRQ.
Findings
It is evidenced that appropriate CG structure has a positive impact on multilatinas’ CRQ. In addition, each country’s regulatory quality is confirmed to have a positive effect on firms to produce higher-quality reports.
Practical implications
This research provides empirical support to what is put forward by agency and stakeholder theory regarding the role that CG and institutional context play in reducing information asymmetries and improving accountability processes to all stakeholders in the Latin American context.
Originality/value
This study contributes original results to the existing literature. Unlike previous works, the present research analyzed multilatinas facing social and political contexts that differ from those of multinationals from developed countries. Different ways of reporting were also covered, going beyond traditional ways of evaluating CRQ – which generally take the sustainability report as a basis.
Purpose
This study aims to analyse the consistency between what companies say (talk) and what they do (walk) regarding the application of double materiality in their sustainability reports.
...Design/methodology/approach
Sustainability reports of 76 European companies that reported the application of double materiality and are listed in the Dow Jones Sustainability Index were studied through content analysis.
Findings
In total, 67% of the companies studied claim to apply double materiality but do not comply with the guidelines in this respect proposed by the European Financial Reporting Advisory Group. Therefore, these companies should be considered label adopters.
Practical implications
This study presents evidence of the existence of label adopters when double materiality is adopted at an early stage, meaning that regulators should seek to control compliance with the minimum requirements established for double materiality. This finding also has implications for assurers, who should consider the degree of real compliance with double materiality requirements when expressing their opinion.
Social implications
The existence of label adopters in the application of double materiality endangers the sustainable development pursued through agreements such as the Green Deal and through the Sustainable Finance policy proposed in Europe.
Originality/value
This work contributes to the emerging literature on double materiality. Unlike previous works, empirical evidence is provided on the changes that companies present in their material issues with the application of double materiality. Moreover, it confirms the existence of label adopters in the application of double materiality.
The authors conducted a survey of 120 consumers in South Korea to study how fashion brands can use "Higg Index" to increase information transparency, which then enhances environmental concerns, brand ...trust, willingness to act environmentally conscious behavior, and purchase intentions. Furthermore, consumer sustainable knowledge moderates the effects of environmental concerns and brand trust. The analysis indicates that business transparency positively affects environmental concerns, brand trust, and willingness to act environmentally conscious behavior. Consumers' sustainable knowledge moderates the effects of business transparency on environmental concerns and brand trust. The findings have meaningful implications for marketer by suggesting the need for transparency, which can be indicated by using an effective transparent evaluation system.
Empirically based, the data description covers business transparency in Russia and availability of corporate information for interested parties. Entry barriers in the form of a fee for hard copies of ...documents are perceptible as an important indicator of business publicity. The study made it possible to summarize current data on 5070 Russian enterprises in order to estimate document copying cost differentiation according to the developed model. The sample size made it also possible to ensure high levels of data quality and representativeness. Actual limiting average mean error Δp was 3.47% with 99% of study validity. The analysis relied on regional and sectorial data groupings to show a strength of various impact factors. In view of this, correlation coefficients, average and weighted average cost values, and descriptive statistics became secondary indicators. The cost value distributed along an interval scale is a major empirical result of the research. The examination of the obtained data makes it possible to identify an availability level of corporate information for various stakeholders and the general public. This is a part of civil right enforcement in the field of information control and validity check. Conjugated scientific issues include pricing of non-core services of companies, corporate relations and modelling of market behaviours. By making a representative data set, authors make an effort to fill the fact-based gap available in other disciplines and related to business transparency in Russia.
The money market represents a segment of financial markets wherein the objects of trading are funds with short-term maturities. The money market in Montenegro is still in its early stages of ...development, and is characterized by a narrow scope of trading material and by a relatively narrow variety of participants. The reasons for such slow development of the Montenegrin money market are numerous: lack of regulations, dollarization as a model of monetary and foreign exchange regime, excessive liquidity of domestic banks, insufficient liquidity in the corporate sector, limited protection of creditor rights, and minimal corporate transparency. Short-term government bonds (T-bills)- -traded exclusively on the primary market--are the only short-term securities on the Montenegrin money market. Montenegrin banks are the biggest investors in T-bills. Foreign investors withdrew from the primary T-bill market after a decrease in T-bill interest rates. For a while, many considered that inadequate solutions in the Law on Securities were the main setbacks to organizing a secondary T-bill market. However, amendments to this Law did not spark the development of a T-bill market, nor any other short-term securities market. Adequate legislation is essential for the development of the money market, but it is not a sole precondition. A decrease in banks liquidity (as competition from other financial institutions increases and/or deposit interest rates decline) is important to induce the money markets development. We can expect a concurrent decrease in lending interest rates only as the conditions of creditor rights protection and business operations transparency improve. Only under such conditions can we expect banks and other financial and non-financial legal entities to begin issuing short-term securities.
As the former President of Bovespa, the Brazilian stock exchange, Raymundo Magliano Filho established model programs in corporate social responsibility that establish Brazil for how to imagine a ...capitalist economy without the excesses and crises that threaten capitalism around the world. Filho tells of the importance of Hannah Arendt in his own thinking. In his professional life, he says, he has been guided by Arendt's observation that power can never be a single individual’s property; rather, it lies at the basis of, and derives its legitimacy from, group action.
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