Non-financial Disclosure of Large Portuguese Companies and Its Determinant Factors
Non-financial Disclosure of Large Portuguese Companies and Its Determinant Factors

Author(s): Katia Lemos, Sonia Monteiro, Romeu Marques
Subject(s): Socio-Economic Research
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Decret-Law nº 89/2017; Non-financial information; Mandatory reporting; Voluntary disclosure; Sustainability report
Summary/Abstract: This paper aims to analyze the degree of disclosure of non-financial information (mandatory vs. voluntary) provided by large Portuguese companies and to identify its determinant factors. A content analysis was conducted on a total of 41 corporate reports published in 2020 by listed and unlisted companies with more than 500 employees. A multiple linear regression model was developed, with a non-financial disclosure index as the dependent variable and visible characteristics of the companies and report-related characteristics as independent variables. The results indicate that there are statistically significant differences in the level of non-financial information disclosure between listed and unlisted companies. Multiple linear regression model results showed that the variables of profitability and the use of the Global Reporting Initiative framework are statistically significant at a significance level of 5%, while the variable of the extent of the report is statistically significant at a significance level of 10%

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