Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/54689

TitleCorporate governance and intellectual capital reporting in a period of financial crisis: evidence from Portugal
Author(s)Lima Rodrigues, Lúcia
Tejedo-Romero, Francisca
Craig, Russell
KeywordsBoard
Directors
Disclosure
Intellectual capital
Portugal
Resource-based
Perspective
Agency theory
Financial crisis
board of directors
resource-based perspectives
Issue dateFeb-2017
PublisherSpringer
JournalInternational Journal of Disclosure and Governance
CitationRodrigues, L. L., Tejedo-Romero, F., & Craig, R. (2017). Corporate governance and intellectual capital reporting in a period of financial crisis: Evidence from Portugal. International Journal of Disclosure and Governance, 14(1), 1–29
Abstract(s)This paper uses an analytical frame comprised of agency theory and a resource based perspective to explore the influence of boards of directors on listed companies’ voluntary disclosure of information concerning intellectual capital [IC]. The IC disclosures in 75 published company reports of 15 listed Portuguese companies in a five year period of financial crisis, 2007 to 2011, are investigated using content analysis and regression techniques. IC disclosures are found to increase with company size, dual corporate governance models, industry, listing on sustainability indexes, and increases in board size up to a maximum point (beyond which disclosures decrease). IC disclosures are reduced by CEO duality and by a higher proportion of independent directors on boards. The year of reporting is not significant, suggesting that the period of financial crisis did not influence the level of IC disclosures. The evidence adduced is consistent with a view that highly visible companies acknowledge the importance of IC disclosures in maintaining their reputation and competitive advantage, even during a period of financial crisis. This paper highlights the need for caution in believing that adding extra directors to an existing board will lead to improved disclosure outcomes. Additionally, given the token number of females appointed to boards currently, the Portuguese capital market regulator should consider enforcing measures to ensure compliance with EU objectives.
TypeArticle
URIhttp://hdl.handle.net/1822/54689
DOI10.1057/jdg.2015.20
ISSN1741-3591
e-ISSN1746-6539
Peer-Reviewedyes
AccessRestricted access (Author)
Appears in Collections:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

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