1,720,994 research outputs found
Analyzing the factors affecting university contributions to achieving the sustainable development goals in European Union countries
No full textThe Sustainable Development Goals (SDGs) represent a set of ambitious and interconnected
goals adopted by the United Nations to address the most urgent global
challenges. Among various institutions, universities play a vital role in advancing the
SDGs, serving as significant catalysts for progress. The challenges associated with
universities' engagement in accomplishing the SDGs have captured the attention of
scholars. Nevertheless, an area that remains largely unexplored pertains to the factors
that could potentially influence universities' contributions to the SDGs. This
study, under the lens of legitimacy and stakeholder theories, seeks to address this
significant gap by analyzing the factors driving the contributions of universities
located in European Union countries towards the achievement of the SDGs. The
econometric analysis, conducted on a sample of 210 European Union universities,
shows that the size of the universities, the board size and the degree of gender diversity
represent factors that positively affect the contribution that these institutions
offer to the achievement of the SDGs
Visual disclosure through integrated reporting
No full textPurpose – This study, based on stakeholder theory, aims to analyse the factors that can affect the level of
visual disclosure in the context of integrated reporting (IR), which represents the last frontier of corporate
disclosure.
Design/methodology/approach – This study develops an innovative measure to measure the level of visual
disclosure of integrated reports that takes into account the use and degree of integration of images and graphs.
Furthermore, to test the hypotheses, this study uses a regression model on a sample of 134 international
companies that published an integrated report in 2018.
Findings – The results show that firm size, firm profitability and industry environmental sensitivity
positively affect the level of visual disclosure of the integrated reports.
Originality/value – To our knowledge, this is the first study that examines visual disclosure in the IR context.
It also extends the field of application of the stakeholder theory, still little used to explain visual disclosure
strategies, and increases knowledge on the determinants of IR.
Keywords Integrated reporting, Visual disclosure, Visual tools, Stakeholder theor
Visualizing environmental, social, and governance disclosure in non-financial reports: does it matter for lenders? A machine-supported approach
No full textPurpose – In recent years, companies have increasingly adopted visual tools to communicate their sustainability practices, responding to growing stakeholder demand for more transparent and accessible non-financial
information. Within this context, the use of visual content in environmental, social, and governance (ESG) disclosure has also gained prominence in academic literature. Under the lens of signaling theory, the purpose of
this study is to investigate the relationship between visual ESG disclosure and the cost of debt.
Design/methodology/approach – This study adopts a machine-supported approach, relying on Google’s Vision API to assess the extent to which a sample of 279 listed firms included in the MSCI Europe Index incorporate
photographs and images related to ESG issues in their non-financial reports for the 2023 financial year. A regression model was used to assess the relationship between the level of visual ESG disclosure, proxied by the natural logarithm
of the number of ESG photographs and images retrieved from sampled non-financial reports, and the cost of debt.
Findings – The results of this study reveal that the majority of ESG photographs and images in corporate nonfinancial reports are linked to environmental themes, followed by social topics and, to a much lesser extent,
governance content. In addition, the findings of this study indicate that a greater use of visual ESG disclosure is associated with a reduction in the cost of debt.
Originality/value – This study enriches the ESG disclosure literature by shifting attention from the content
to the form of disclosure, emphasizing the strategic role of visual elements in non-financial reporting and their
influence on the cost of debt. To the best of the authors’ knowledge, this is the first study to offer empirical
insight into the impact of using photographs and images for ESG disclosure on borrowing costs. This study also advances the application of signaling theory by demonstrating how visual communication can serve as a credible signal of corporate transparency in capital markets
Substantive versus symbolic paths in SDG disclosure via social media: evidence from Italian local governments
No full textExploring intellectual capital disclosure and its determinants in knowledge-based institutions: empirical evidence from international universities
No full textPurpose – This study aims to add empirical evidence to the intellectual capital (IC) literature by
enhancing understanding of voluntary online IC disclosure (ICD) practices in knowledge-based institutions such as universities from an international standpoint. The ultimate purpose of this study is to examine how different variables related to size, internet visibility and certain corporate governance
attributes (i.e. board size and board gender diversity) affect the extent to which universities from different world’s countries convey ICD through websites.
Design/methodology/approach – This study investigates a sample of 100 international universities selected according to the QS World University Rankings 2020 to examine the level of ICD provided through their official websites. It uses a content analysis to measure the actual amount of IC information disclosed by these universities and a regression model to test the impact of the explanatory variables.
Findings – Empirical results demonstrate a negative impact of the board size and a positive effect of board gender diversity and internet visibility on the level of IC information disclosed by international universities on their website. They also demonstrate a non-significant effect of university size.
Originality/value – This study contributes to enriching the academic literature in different ways. In the first place, it extends the field of application of the stakeholder theory. In the second place, this study sheds light on the actual ICD level of international universities. In the third place, it examines the ICD through a channel – websites – which are still little explored by the academic literature. Finally, this study increases knowledge about the factors that can influence the ICD disclosure of international universities
Does the mayor’s profile influence intellectual capital disclosure? Empirical evidence from Italian local governments
No full textThis study investigates to what extent certain mayor’s personal traits affect the level of intellectual capital disclosure (ICD) provided by local governments (LGs). To this end, a disclosure index is developed, and a subsequent regression analysis is estimated on a sample of 141 large Italian LGs. The results indicate that Italian LGs led by female and left-wing mayors are more inclined to enhance their online transparency regarding intellectual capital (IC). In contrast, they demonstrate that the mayor’s age and level of education do not affect the level of ICD disseminated by LGs through their websites. This study provides different contributions to existing literature. Firstly, it extends prior IC research by offering contemporary evidence of how Italian LGs deal with IC transparency issues through their websites. Secondly, it contributes to LGs’ transparency literature, deeply delving into the role of the mayor’s characteristics in determining online ICD practices
Shedding light on environmental disclosure: leveraging digital platforms for life cycle information transparency
No full textPurpose In light of heightened interest and increasing pressure from stakeholders, companies have begun to disclose significant amounts of environmental information. Within the realm of environmental transparency, social media platforms have
emerged as essential tools for sharing information about these sustainability efforts. Under the lens of voluntary disclosure theory, this study aims to investigate the level of life cycle assessment (LCA) information disseminated via Twitter by international
companies and the factors influencing this level of disclosure.
Methods This study employs a twofold methodology. Firstly, it conducts a dictionary-based content analysis of tweets disseminated in 2021 by 141 companies from the S&P 500 index operating in the energy (or energy utilities), basic materials, and industrial sectors to assess the level of LCA disclosure. Secondly, it employs regression analysis to investigate the factors influencing LCA disclosure.
Results and discussion This study reveals that companies make limited use of Twitter to convey LCA information, indicating a potential for enhanced utilisation of the platform for this purpose. Additionally, it shows that the most profitable companies,
those that publish sustainability reports, and those with environmental certifications are more likely to disclose LCA information via Twitter. Conversely, online visibility does not appear to significantly influence LCA disclosure via Twitter.
Conclusions This study provides valuable insights to the academic literature. In this regard, it contributes to the longstanding debate surrounding transparency in environmental matters by shifting the focus from traditional reporting methods to
alternative communication tools like Twitter. In addition, it advances the knowledge of the factors shaping the dissemination of LCA information by companies. Lastly, it broadens the scope of application of the voluntary disclosure theory.
This study also provides significant practical implications for companies and policymakers
Unveiling the link between performance and Intellectual Capital disclosure in the context of Italian Public universities
No full textThis work aims to explore the relationship between academic performance and voluntary Intellectual
Capital (IC) disclosure in the context of Italian Public Universities. This study applies a content analysis
to investigate the extent of voluntary Intellectual Capital disclosure (ICD) provided through performance
reports by a sample of 59 Italian public universities. Four multivariate regression models are estimated to
examine the associations between academic performance and the level of ICD and its sub-components,
namely Human Capital, Structural Capital and Relational Capital. The content analysis findings show that
Italian public universities place a high value on disclosing human capital information. The results based
on the multivariate analysis confirm the view that, in the case of higher performance, Italian Public
Universities tend to convey a greater extent of information on both IC and its sub-components. This study
broadens the scope of mainstream ICD literature's actions by bringing new expertise about the
interconnections between university performance and voluntary ICD provided via performance reports.
Connecting university performance to ICD can enhance the practical and theoretical understanding of the
role that ICD may exert for universities to signalling their excellence and explain to stakeholders how
they create value and achieve superior performance, focusing on their strategic - IC-based resources
CSR disclosure as a legitimation strategy: evidence from the football industry
No full textPurpose – The latest developments in the football industry, the commodification of sport, the excessive
focus on profitability and the limited attention to social and environmental aspects have caused a
legitimation crisis for football clubs. According to the legitimacy theory, the corporate social responsibility
(CSR) disclosure represents a tool capable of allowing the construction or repair of legitimacy. This study,
in line with this theory, aims to analyse the amount of CSR disclosure provided by football clubs and the
determinants, related to visibility, of the level of information provided.
Design/methodology/approach – This study uses amanual content analysis on the corporate websites
of the 80 football clubs that qualified for the UEFA Champions League and UEFA Europa League group
stages for the 2019–2020 year to measure the level of CSR disclosure and subsequently a regression
analysis to examine the impact of visibility on the amount of information provided.
Findings – Results reveal that football clubs still disclose relatively little information about sustainability
issues, and that sports performance visibility, human capital visibility and social media visibility positively
affect the amount of information that football clubs disclose.
Originality/value – This study extends the horizons of CSR disclosure to the football industry which is still
little explored in the academic literature. Furthermore, it extends the scope of legitimacy theory, showing
how CSR disclosure can be a means for football clubs to obtain or repair legitimacy. Furthermore, this
study extends the list of determinants of the level of CSR disclosure, showing that visibility can influence
the amount of CSR information.
Keywords Corporate social responsibility, Legitimacy theory, CSR reporting, CSR disclosure,
Football industr
Integrated reporting quality and cost of debt financing
No full textPurpose In recent years, policymakers have increasingly pushed firms to disclose non-financial information. In Europe, integrated reporting (IR) is an increasingly adopted tool to fully comply with the requirements of the Directive 2014/95/EU. This study aims to examine the financial benefits of IR quality and specifically the effect on the cost of debt. Design/methodology/approach A manual content analysis is performed to measure the quality of the information contained in integrated reports. A panel regression model is used to test the effect of the IR quality on the cost of debt on a sample of 399 observations (a balanced panel of 133 European listed firms for the period 2017-2019). Findings Results demonstrate a negative relationship between IR quality and the cost of debt, showing that firms that provide higher quality integrated reports benefit from access to third party financial resources at better conditions. Research limitations/implications The results of this study offer important implications for managers and policymakers. The capacity of IR quality to allow a cost of debt reduction should push managers to a greater propensity towards transparency and the dissemination of high quality integrated reports. In addition, in light of the benefits connected to the IR quality, policymakers should push towards the adoption of IR as a solution to fulfil the regulatory obligations deriving from Directive 2014/95/EU. Practical implications Results show the goodness of IR as an ideal solution to fulfil the obligations imposed by Directive 2014/95/EU. The important financial benefits associated with IR quality make the high quality integrated report an ideal tool capable of fulfilling regulatory obligations and at the same time guaranteeing a reduction in the cost of debt. Originality/value To the best of the authors' knowledge, this is the first work that analyses the relationship between IR quality and cost of debt
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