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Corporate governance and intellectual capital reporting in a period of financial crisis: evidence from Portugal

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Corporate governance and intellectual capital reporting in a period of financial crisis : evidence from Portugal. / Rodrigues, Lúcia Lima; ​Tejedo-Romero, Francisca; Craig, Russell.

In: International Journal of Disclosure and Governance, Vol. 14, No. 1, 02.2017, p. 1-29.

Research output: Contribution to journalArticlepeer-review

Harvard

Rodrigues, LL, ​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, vol. 14, no. 1, pp. 1-29. https://doi.org/10.1057/jdg.2015.20

APA

Rodrigues, 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. https://doi.org/10.1057/jdg.2015.20

Vancouver

Rodrigues LL, ​Tejedo-Romero F, Craig R. Corporate governance and intellectual capital reporting in a period of financial crisis: evidence from Portugal. International Journal of Disclosure and Governance. 2017 Feb;14(1):1-29. https://doi.org/10.1057/jdg.2015.20

Author

Rodrigues, Lúcia Lima ; ​Tejedo-Romero, Francisca ; Craig, Russell. / Corporate governance and intellectual capital reporting in a period of financial crisis : evidence from Portugal. In: International Journal of Disclosure and Governance. 2017 ; Vol. 14, No. 1. pp. 1-29.

Bibtex

@article{dce3878273bc495c848cfc919131d348,
title = "Corporate governance and intellectual capital reporting in a period of financial crisis: evidence from Portugal",
abstract = "This article uses an analytical frame that comprised agency theory and a resource-based perspective to explore the influence of boards of directors on listed companies{\textquoteright} voluntary disclosure of information concerning intellectual capital (IC). The IC disclosures in 75 published company reports of 15 listed Portuguese companies in a 5 year period of financial crisis, 2007–2011, are investigated using content analysis and the 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 article highlights the need for caution in believing that adding extra directors to an existing board will lead to improved disclosure outcomes. In addition, 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.",
keywords = "board of directors, disclosure, intellectual capital, financial crisis, resource-based perspectives, agency theory",
author = "Rodrigues, {L{\'u}cia Lima} and Francisca ​Tejedo-Romero and Russell Craig",
note = "EMBARGO 12 MTHS",
year = "2017",
month = feb,
doi = "10.1057/jdg.2015.20",
language = "English",
volume = "14",
pages = "1--29",
journal = "International Journal of Disclosure and Governance",
issn = "1741-3591",
publisher = "Palgrave Macmillan Ltd.",
number = "1",

}

RIS

TY - JOUR

T1 - Corporate governance and intellectual capital reporting in a period of financial crisis

T2 - evidence from Portugal

AU - Rodrigues, Lúcia Lima

AU - ​Tejedo-Romero, Francisca

AU - Craig, Russell

N1 - EMBARGO 12 MTHS

PY - 2017/2

Y1 - 2017/2

N2 - This article uses an analytical frame that comprised 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 5 year period of financial crisis, 2007–2011, are investigated using content analysis and the 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 article highlights the need for caution in believing that adding extra directors to an existing board will lead to improved disclosure outcomes. In addition, 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.

AB - This article uses an analytical frame that comprised 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 5 year period of financial crisis, 2007–2011, are investigated using content analysis and the 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 article highlights the need for caution in believing that adding extra directors to an existing board will lead to improved disclosure outcomes. In addition, 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.

KW - board of directors

KW - disclosure

KW - intellectual capital

KW - financial crisis

KW - resource-based perspectives

KW - agency theory

U2 - 10.1057/jdg.2015.20

DO - 10.1057/jdg.2015.20

M3 - Article

VL - 14

SP - 1

EP - 29

JO - International Journal of Disclosure and Governance

JF - International Journal of Disclosure and Governance

SN - 1741-3591

IS - 1

ER -

ID: 5313914