Corporate governance mechanisms and intellectual capital
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng spa |
Título da fonte: | Revista Brasileira de Gestão de Negócios (Online) |
Texto Completo: | https://rbgn.fecap.br/RBGN/article/view/3024 |
Resumo: | Purpose – The purpose of this paper is to identify the corporate governance characteristics of Spanish companies included in the Ibex35 stock price index that influence the voluntary information disclosure policy regarding their Intellectual Capital.Design/methodology/approach – The methodology used was content analysis of 115 annual reports from 23 Ibex35 companies over five years; this allowed for the development of an index to quantify Intellectual Capital information.Findings – Based on Agency-Stakeholders Theory postulates, the main results reveal that companies that disclose most information about their Intellectual Capital are those in which managers have greater managerial ownership, fewer independent directors, separation of functions between the chairman and the chief executive, and larger Boards of Directors.Originality/value – With this study, we contribute to agency-stakeholder theory by analyzing a non-Anglo-Saxon market (characterized by strong executive power and low protection of minority shareholders and other stakeholders), stating that certain characteristics of Corporate Governance condition the disclosure of Intellectual Capital. |
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Corporate governance mechanisms and intellectual capitalMecanismos de gobierno corporativo y capital intelectualMecanismos de gobierno corporativo y capital intelectualIntellectual capitalinformation disclosurecorporate governanceownership structureboard of directorsCapital intelectualdivulgación de informacióngobierno corporativoestructura de la propiedadconsejo de administración.Capital intelectualdivulgación de informacióngobierno corporativoestructura de la propiedadconsejo de administración.Purpose – The purpose of this paper is to identify the corporate governance characteristics of Spanish companies included in the Ibex35 stock price index that influence the voluntary information disclosure policy regarding their Intellectual Capital.Design/methodology/approach – The methodology used was content analysis of 115 annual reports from 23 Ibex35 companies over five years; this allowed for the development of an index to quantify Intellectual Capital information.Findings – Based on Agency-Stakeholders Theory postulates, the main results reveal that companies that disclose most information about their Intellectual Capital are those in which managers have greater managerial ownership, fewer independent directors, separation of functions between the chairman and the chief executive, and larger Boards of Directors.Originality/value – With this study, we contribute to agency-stakeholder theory by analyzing a non-Anglo-Saxon market (characterized by strong executive power and low protection of minority shareholders and other stakeholders), stating that certain characteristics of Corporate Governance condition the disclosure of Intellectual Capital.Objetivo – El propósito de este trabajo es identificar aquellas características del gobierno corporativo de las empresas españolas, incluidas en el índice de cotización bursátil del Ibex35, que influyen en la política de divulgación de información voluntaria respecto de su capital intelectual.Metodología – Se utilizó el análisis de contenidos de 115 informes anuales, correspondientes a 23 empresas del Ibex35 a lo largo de cinco años, que permitió la elaboración de un índice de divulgación para cuantificar la información del capital intelectual.Resultados – Basándonos en los postulados de la Teoría de la Agencia-Stakeholders, los principales resultados revelan que las empresas que más información suministran de su capital intelectual son las que tienen un mayor control accionarial, menos consejeros independientes, separación de funciones entre el presidente y el primer directivo, y un mayor tamaño de sus consejos de administración.Contribuciones – Con este estudio, contribuimos a la teoría de la agencia-stakeholders mediante la evidencia, desde un mercado no anglosajón (caracterizado por el fuerte poder de los ejecutivos y la baja protección de los accionistas minoritarios y resto de stakeholders), de que determinadas características del gobierno corporativo condicionan la revelación del capital intelectual. Objetivo – El propósito de este trabajo es identificar aquellas características del gobierno corporativo de las empresas españolas, incluidas en el índice de cotización bursátil del Ibex35, que influyen en la política de divulgación de información voluntaria respecto de su capital intelectual.Metodología – Se utilizó el análisis de contenidos de 115 informes anuales, correspondientes a 23 empresas del Ibex35 a lo largo de cinco años, que permitió la elaboración de un índice de divulgación para cuantificar la información del capital intelectual.Resultados – Basándonos en los postulados de la Teoría de la Agencia-Stakeholders, los principales resultados revelan que las empresas que más información suministran de su capital intelectual son las que tienen un mayor control accionarial, menos consejeros independientes, separación de funciones entre el presidente y el primer directivo, y un mayor tamaño de sus consejos de administración.Contribuciones – Con este estudio, contribuimos a la teoría de la agencia-stakeholders mediante la evidencia, desde un mercado no anglosajón (caracterizado por el fuerte poder de los ejecutivos y la baja protección de los accionistas minoritarios y resto de stakeholders), de que determinadas características del gobierno corporativo condicionan la revelación del capital intelectual.FECAP2017-07-26info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado por paresapplication/pdfapplication/pdfhttps://rbgn.fecap.br/RBGN/article/view/302410.7819/rbgn.v19i65.3024Review of Business Management; Vol. 19 No. 65 (2017); 394-414RBGN Revista Brasileira de Gestão de Negócios; Vol. 19 Núm. 65 (2017); 394-414RBGN - Revista Brasileira de Gestão de Negócios; v. 19 n. 65 (2017); 394-4141983-08071806-4892reponame:Revista Brasileira de Gestão de Negócios (Online)instname:Fundação Escola de Comércio Álvares Penteado (FECAP)instacron:FECAPengspahttps://rbgn.fecap.br/RBGN/article/view/3024/pdfhttps://rbgn.fecap.br/RBGN/article/view/3024/pdf_1Copyright (c) 2017 Review of Business Managementinfo:eu-repo/semantics/openAccessTejedo-Romero, FranciscaFilipe Ferraz Esteves Araujo, JoaquimEmmendoerfer, Magnus Luiz2021-07-21T16:19:29Zoai:ojs.emnuvens.com.br:article/3024Revistahttp://rbgn.fecap.br/RBGN/indexhttps://rbgn.fecap.br/RBGN/oai||jmauricio@fecap.br1983-08071806-4892opendoar:2021-07-21T16:19:29Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP)false |
dc.title.none.fl_str_mv |
Corporate governance mechanisms and intellectual capital Mecanismos de gobierno corporativo y capital intelectual Mecanismos de gobierno corporativo y capital intelectual |
title |
Corporate governance mechanisms and intellectual capital |
spellingShingle |
Corporate governance mechanisms and intellectual capital Tejedo-Romero, Francisca Intellectual capital information disclosure corporate governance ownership structure board of directors Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. |
title_short |
Corporate governance mechanisms and intellectual capital |
title_full |
Corporate governance mechanisms and intellectual capital |
title_fullStr |
Corporate governance mechanisms and intellectual capital |
title_full_unstemmed |
Corporate governance mechanisms and intellectual capital |
title_sort |
Corporate governance mechanisms and intellectual capital |
author |
Tejedo-Romero, Francisca |
author_facet |
Tejedo-Romero, Francisca Filipe Ferraz Esteves Araujo, Joaquim Emmendoerfer, Magnus Luiz |
author_role |
author |
author2 |
Filipe Ferraz Esteves Araujo, Joaquim Emmendoerfer, Magnus Luiz |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Tejedo-Romero, Francisca Filipe Ferraz Esteves Araujo, Joaquim Emmendoerfer, Magnus Luiz |
dc.subject.por.fl_str_mv |
Intellectual capital information disclosure corporate governance ownership structure board of directors Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. |
topic |
Intellectual capital information disclosure corporate governance ownership structure board of directors Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. Capital intelectual divulgación de información gobierno corporativo estructura de la propiedad consejo de administración. |
description |
Purpose – The purpose of this paper is to identify the corporate governance characteristics of Spanish companies included in the Ibex35 stock price index that influence the voluntary information disclosure policy regarding their Intellectual Capital.Design/methodology/approach – The methodology used was content analysis of 115 annual reports from 23 Ibex35 companies over five years; this allowed for the development of an index to quantify Intellectual Capital information.Findings – Based on Agency-Stakeholders Theory postulates, the main results reveal that companies that disclose most information about their Intellectual Capital are those in which managers have greater managerial ownership, fewer independent directors, separation of functions between the chairman and the chief executive, and larger Boards of Directors.Originality/value – With this study, we contribute to agency-stakeholder theory by analyzing a non-Anglo-Saxon market (characterized by strong executive power and low protection of minority shareholders and other stakeholders), stating that certain characteristics of Corporate Governance condition the disclosure of Intellectual Capital. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-07-26 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Avaliado por pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://rbgn.fecap.br/RBGN/article/view/3024 10.7819/rbgn.v19i65.3024 |
url |
https://rbgn.fecap.br/RBGN/article/view/3024 |
identifier_str_mv |
10.7819/rbgn.v19i65.3024 |
dc.language.iso.fl_str_mv |
eng spa |
language |
eng spa |
dc.relation.none.fl_str_mv |
https://rbgn.fecap.br/RBGN/article/view/3024/pdf https://rbgn.fecap.br/RBGN/article/view/3024/pdf_1 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2017 Review of Business Management info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2017 Review of Business Management |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
FECAP |
publisher.none.fl_str_mv |
FECAP |
dc.source.none.fl_str_mv |
Review of Business Management; Vol. 19 No. 65 (2017); 394-414 RBGN Revista Brasileira de Gestão de Negócios; Vol. 19 Núm. 65 (2017); 394-414 RBGN - Revista Brasileira de Gestão de Negócios; v. 19 n. 65 (2017); 394-414 1983-0807 1806-4892 reponame:Revista Brasileira de Gestão de Negócios (Online) instname:Fundação Escola de Comércio Álvares Penteado (FECAP) instacron:FECAP |
instname_str |
Fundação Escola de Comércio Álvares Penteado (FECAP) |
instacron_str |
FECAP |
institution |
FECAP |
reponame_str |
Revista Brasileira de Gestão de Negócios (Online) |
collection |
Revista Brasileira de Gestão de Negócios (Online) |
repository.name.fl_str_mv |
Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP) |
repository.mail.fl_str_mv |
||jmauricio@fecap.br |
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1754115959256252416 |