Symbolic Compliance or Effective Governance? Board Characteristics and Integrated Reporting in Brazil
DOI:
https://doi.org/10.17524/repec.v19.e3766Palavras-chave:
Relato Integrado, Conselho de Administração, Teoria InstitucionalResumo
Objective: To analyze the influence of Board of Directors' characteristics on the quality of integrated reports disclosed by publicly traded Brazilian companies, from the perspective of Institutional Theory, considering the mechanisms of coercive, normative, and mimetic isomorphism.
Method: A content analysis was conducted on the integrated reports of 35 companies listed on B3 between 2016 and 2023, with a quality index constructed based on the dimensions of content, history, assurance, and form. As suggested by the Hausman and Chow tests, fixed-effects multiple regression models were applied to test the hypotheses.
Results: The results revealed that gender diversity and board activity obtained negative and statistically significant effects on IR quality, while board independence and firm size showed no significant association. This evidence suggests a process of institutional compliance that is more symbolic than substantive, strongly influenced by regulatory (coercive isomorphism) and normative pressures.
Contributions: This study reinforces the applicability of Institutional Theory in the analysis of corporate governance, demonstrating that formal attributes of the Board of Directors do not always result in higher information quality. In practical terms, the findings highlight the need for public policies and corporate initiatives that strengthen board members' effective engagement with the disclosure process, going beyond a mere response to institutional pressures.
Tradução
Este artigo é uma tradução em English do artigo:
Conformidade simbólica ou governança eficaz? Características do Conselho de Administração e Relato Integrado no Brasil
Referências
Ahmad, N. B. J., Rashid, A., & Gow, J. (2017). Board meeting frequency and corporate social responsibility (CSR) reporting: Evidence from Malaysia. Corporate Board: role, duties and composition, 13(1), 87- 99. https://doi.org/10.22495/cbv13i1c1art3
Ahmed Haji, A., & Anifowose, M. (2016). The trend of integrated reporting practice in South Africa: ceremonial or substantive? Sustainability Accounting, Management and Policy Journal, 7(2), 190-224. https://doi.org/10.1108/SAMPJ-11-2015-0106
Al-Hashimi, Y. N., et al. (2021). The impact of corporate governance on firm performance during the COVID-19 pandemic: Evidence from Malaysia. Retrieved from https://staff.najah.edu/media/published_research/2021/02/12/The_Impact_of_Corporate_Governance_on_Firm_Performance_During_The_COVID-19_Pandemic__Evidence_from_Malaysia.pdf
AlQudah, M., Rashid, A., & Pervin, S. (2019). The impact of board of directors characteristics on ROE and ROA; an analytical study in non-financial companies. Journal of Accounting and Financial Studies.
Amorim, S. M. S. S., Oliveira, M. C., Ponte, V. M. R., & Abreu, M. C. S. (2017). Pressões institucionais na divulgação ambiental das empresas do BRICS. Organizações em Contexto, 13(25), 245-277. https://doi.org/10.15603/1982-8756/roc.v13n25p245-277
Barros, A. N. F., Frazão, D. M., Anjos, L. C. M., & Aquino, J. T. (2018) O Impacto do Relato Integrado nas Empresas Participantes do Programa Piloto no Brasil. Revista de Contabilidade da UFBA, 12(3). https://doi.org/10.9771/rc-ufba.v12i3.26696
Ben-Amar, W., & McIlkenny, P. (2015). Board effectiveness and the voluntary disclosure of climate change information. Business Strategy and the Environment, 24(8), 704-719. https://doi.org/10.1002/bse.1840
Bizarria, C.T.M. (2013). Práticas de governança corporativa adotadas pelas companhias do setor de utilidade pública listadas na BM&FBOVESPA.
Brugni, T. V., Fávero, L. P. L., Klotzle, M. C., & Pinto, A. C. F. (2018). Conselhos de administração brasileiros: uma análise à luz dos formulários de referência. Advances in Scientific and Applied Accounting, 146-165. ttps://doi.org/10.14392/asaa.2018110108
Bukair, A. A., & Rahman, A. A. (2015). The effect of the board of directors' characteristics on corporate social responsibility disclosure by Islamic banks. Journal of Management Research, 7(2), 506. https://doi.org/10.5296/jmr.v7i2.6989
Chi, C. W., Hung, K., Cheng, H. W., & Lieu, P. T. (2015). Family firms and earnings management in Taiwan: Influence of corporate governance. International Review of Economics & Finance, 36, 88-98. https://doi.org/10.1016/j.iref.2014.11.009
Conselho Federal de Contabilidade. (2020). Norma Brasileira de Contabilidade, CTG 09, de 26 de novembro de 2020. Aprova o CTG 09, que trata sobre a Correlação à Estrutura Conceitual Básica do Relato Integrado. Recuperado de https://www.in.gov.br/web/ dou/-/norma-brasileira-de-contabilidade-ctg-09-de-26-de- novembro-de-2020-296458638
Cornett, M. M., Marcus, A. J., & Tehranian, H. (2008). Corporate governance and pay-for-performance: The impact of earnings management. Journal of Financial Economics, 87(2), 357-373. https://doi.org/10.1016/j.jfineco.2007.03.003
Correia, L. F., & Amaral, H. F. (2009). A eficiência do conselho de administração como mecanismo de controle dos custos de agência. Anais do Congresso Brasileiro de Custos-ABC, Fortaleza, Ceará, Brasil, 16.
Costa, G. M., dos Santos, B. A., Gomes, M. L. S., & Guimarães, D. B. (2021). A Influência das Características do Conselho de Administração na Divulgação Voluntária Ambiental. Gestão e Sociedade, 15(43). https://doi.org/10.21171/ges.v15i43.3541
Einhorn, E. (2005). The Nature of the Interaction between Mandatory and Voluntary Disclosures. Journal of Accounting Research, 43(4). https://doi.org/10.1111/j.1475-679X.2005.00183.x
Fernandes, R. B. (2020). Fatores associados à divulgação voluntária do relato integrado (Master's thesis, Universidade Federal do Rio Grande do Norte).
Forte, H. C., Silva, L. K. S., & de Abreu, M. C. S. (2021). Efeito da Estrutura do Conselho de Administração na Evidência de Práticas Ambientais e Sociais em empresas brasileiras. Revista Universo Contábil, 16(1), 119-135. https://doi.org/10.4270/ruc.2020106
Frias-Aceituno, J. V., Rodriguez-Ariza, L., & Garcia-Sanchez, I. M. (2013). The role of the board in the dissemination of integrated corporate social reporting. Corporate Social Responsibility and Environmental Management, 20(4), 219-233. https://doi.org/10.1002/csr.1294
Frias-Aceituno, J. V., Rodríguez-Ariza, L., & Garcia-Sánchez, I. M. (2014). Explanatory factors of integrated sustainability and financial reporting. Business strategy and the environment, 23(1), 56-72. https://doi.org/10.1002/bse.1765
Gandía, J. L. (2008). Determinants of internet‐based corporate governance disclosure by Spanish listed companies. Online Information Review, 32(6), 791-817. https://doi.org/10.1108/14684520810923944
García-Sánchez, I. M., Rodríguez-Ariza, L., & Frías-Aceituno, J. V. (2013). The cultural system and integrated reporting. International business review, 22(5), 828-838. https://doi.org/10.1016/j.ibusrev.2013.01.007
Gerwanski, J., Kordsachia, O., & Velte, P. (2019). Determinants of materiality disclosure quality in integrated reporting: Empirical evidence from an international setting. Business Strategy and the Environment, 28(5), 750-770. https://doi.org/10.1002/bse.2278
Ghani, E. K., Jamal, J., Puspitasari, E., & Gunardi, A. (2018). Factors influencing integrated reporting practices among Malaysian public listed real property companies: A sustainable development effort. International Journal of Managerial and Financial Accounting, 10(2), 144-162. https://doi.org/10.1504/IJMFA.2018.091662
Gul, F. A., Srinidhi, B., & Tsui, J. (2007). Do female directors enhance corporate board monitoring? Some evidence from earnings quality. Hong Kong Polytechnic University.
Gulzar, I., Tabash, M. I., Ahmad, G., Yazdani, W., & Alam, M. F. (2023). Investigating the nexus between corporate governance and firm performance in India: Evidence from COVID-19. Journal of Risk and Financial Management, 16(7), 307. https://doi.org/10.3390/jrfm16070307
Hair, J.F., Black, W.C., Babin, B.J., & Anderson, R.E. (2010). Multivariate Data Analysis. 7th Edition, Pearson, New York.
Hammond, K., & Miles, S. (2004). Assessing quality assessment of corporate social reporting: UK perspectives. In Accounting Forum, 28(1), 61-79. https://doi.org/10.1016/j.accfor.2004.04.005
Harvard Law School Forum on Corporate Governance. (2021). COVID-19 and comparative corporate governance. Retrieved from https://corpgov.law.harvard.edu
Hoque, M. E. (2017). Why company should adopt integrated reporting. International Journal of Economics and Financial Issues, 7(1), 241-248.
Hossain, M., & Hammami, H. (2009). Voluntary disclosure in the annual reports of an emerging country: The case of Qatar. Advances in Accounting, 25(2), 255-265. https://doi.org/10.1016/j.adiac.2009.08.002
Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
Kanagaretnam, K., Lobo, G. J., & Whalen, D. J. (2007). Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy, 26(4), 497-522. https://doi.org/10.1016/j.jaccpubpol.2007.05.003
Kilic, M., & Kuzey, C. (2018). Determinants of forward-looking disclosures in integrated reporting. Managerial Auditing Journal, 33(1), 115-144. https://doi.org/10.1108/MAJ-12-2016-1498
King, M. R., & Santor, E. (2008). Family values: Ownership structure, performance and capital structure of Canadian firms. Journal of Banking & Finance, 32(11), 2423-2432.
Kitagawa, C. H., & Ribeiro, M. D. S. (2009). Governança corporativa na América Latina: a relevância dos princípios da OCDE na integridade dos conselhos e autonomia dos conselheiros. Revista Contabilidade & Finanças, 20(51), 61-76. https://doi.org/10.1590/S1519-70772009000300005
Lagasio, V., & Cucari, N. (2019). Corporate governance and environmental social governance disclosure: A meta‐analytical review. Corporate Social Responsibility and Environmental Management, 26(4), 701-711. https://doi.org/10.1002/csr.1716
Liu, X., & Anbumozhi, V. (2009). Determinant factors of corporate environmental information disclosure: An empirical study of Chinese listed companies. Journal of Cleaner Production, 17(6), 593-600. https://doi.org/10.1016/j.jclepro.2008.10.001
Magerakis, E., Gkillas, K., Tsagkanos, A., & Siriopoulos, C. (2020). Firm Size Does Matter: New Evidence on the Determinants of Cash Holdings. Journal of Risk and Financial Management, 13(8), 163.
Mantovani, F. R. Jael, A. Lee, A. Beserra, I & Santos, R. B., (2017) Relato Integrado: Uma Análise da Evidenciação dos Capitais de uma Empresa Brasileira de Grande Porte. Redeca, 4(1).
Maria, S. C., d'Angelo, M. J., & Borgerth, V. M. D. C. (2021). Lacunas de engajamento e utilização do Relato Integrado no Brasil. Revista Contabilidade & Finanças, 33, 63-80. https://doi.org/10.1590/1808-057x202112040
Melloni, G., Stacchezzini, R., & Lai, A. (2016). The tone of business model disclosure: an impression management analysis of the integrated reports. Journal of Management and Governance.
McGuinness, P. B., Vieito, J. P., & Wang, M. (2017). The role of board gender and foreign ownership in the CSR performance of Chinese listed firms. Journal of Corporate Finance, 42, 75-99. https://doi.org/10.1016/j.jcorpfin.2016.11.001
Nascimento, Í. C. S. do, de Paula Pessoa, A. F., de Vasconcelos, A. C., & De Luca, M. M. M. (2021). Participação feminina no conselho de administração e a sustentabilidade empresarial. Revista Gestão Organizacional, 14(2), 138-163. https://doi.org/10.22277/rgo.v14i2.5381
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Pistoni, A., Songini, L., & Bavagnoli, F. (2018). Integrated reporting quality: An empirical analysis. Corporate Social Responsibility and Environmental Management, 25(4), 489-507. https://doi.org/10.1002/csr.1474
Prado-Lorenzo, J. M., García-Sánchez, I. M., & Gallego-Álvarez, I. (2009). Características del consejo de administración e información en materia de responsabilidad social corporativa. Spanish Journal of Finance and Accounting/Revista Española de financiación y contabilidad, 38(141), 107-135. https://doi.org/10.1080/02102412.2009.10779664
Prudêncio, P., Forte, H., Crisóstomo, V., & Vasconcelos, A. (2021). Effect of Diversity in the Board of Directors and Top Management Team on Corporate Social Responsibility. Brazilian Business Review, 18(2), 118–139. https://doi.org/10.15728/bbr.2021.18.2.1
Reis, L. G. dos, & de Morais, C. M. (2021). Relato Integrado: uma análise comparativa entre empresas brasileiras e europeias sob a ótica da Teoria Institucional. REUNIR Revista de Administração Contabilidade e Sustentabilidade, 11(1), 1-15.
Saks, Y. (2018). The relationship between corporate governance and integrated reporting quality. Journal of Business Ethics.
Silva, S. M. F. (2020). Relato Integrado: Investigação, Qualidade e Valor da Empresa (Doctoral dissertation, Instituto Politécnico do Porto. Escola Superior de Tecnologia e Gestão).
Simona, C., Maria, G. S., & Andrea, V. (2018). Does the market reward integrated report quality? African Journal of Business Management, 12(4), 78-91. https://doi.org/10.5897/AJBM2017.8469
Slewinski, E., Camacho, R. R., & Sanches, S. L. R. (2015). Análise Bibliométrica e Paradigmática da Produção Científica sobre Relato Integrado nos Periódicos Internacionais de Contabilidade. Anais do Congresso USP de Controladoria e Contabilidade, São Paulo, SP, Brasil, 15.
Soeiro, T. D. M., & Wanderley, C. D. A. (2019). A teoria institucional na pesquisa em contabilidade: uma revisão. Organizações & Sociedade, 26, 291-316. https://doi.org/10.1590/1984-9260895
Tunico, F. R. L. (2017). Divulgação dos capitais não financeiros do relato integrado pelas empresas brasileiras de capital aberto: uma análise à luz da teoria institucional (Master's thesis, Universidade Federal de Pernambuco).
Vitolla, F., Raimo, N., & Rubino, M. (2020). Board characteristics and integrated reporting quality: an agency theory perspective. Corporate Social Responsibility and Environmental Management, 27(2), 1152-1163. https://doi.org/10.1002/csr.1879
Vitolla, F., Raimo, N., Rubino, M., & Garzoni, A. (2020). The impact of national culture on integrated reporting quality. Journal of Management and Governance.
Xie, B., Davidson III, W. N., & DaDalt, P. J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295-316. https://doi.org/10.1016/S0929-1199(02)00006-8
Zaro, E. S. (2021). Relato Integrado e a Divulgação Corporativa para a Sustentabilidade. Revista Mineira de Contabilidade, 22(1), 4-11. https://doi.org/10.51320/rmc.v22i1.132
Ahmed Haji, A., & Anifowose, M. (2016). The trend of integrated reporting practice in South Africa: ceremonial or substantive? Sustainability Accounting, Management and Policy Journal, 7(2), 190-224. https://doi.org/10.1108/SAMPJ-11-2015-0106
Al-Hashimi, Y. N., et al. (2021). The impact of corporate governance on firm performance during the COVID-19 pandemic: Evidence from Malaysia. Retrieved from https://staff.najah.edu/media/published_research/2021/02/12/The_Impact_of_Corporate_Governance_on_Firm_Performance_During_The_COVID-19_Pandemic__Evidence_from_Malaysia.pdf
AlQudah, M., Rashid, A., & Pervin, S. (2019). The impact of board of directors characteristics on ROE and ROA; an analytical study in non-financial companies. Journal of Accounting and Financial Studies.
Amorim, S. M. S. S., Oliveira, M. C., Ponte, V. M. R., & Abreu, M. C. S. (2017). Pressões institucionais na divulgação ambiental das empresas do BRICS. Organizações em Contexto, 13(25), 245-277. https://doi.org/10.15603/1982-8756/roc.v13n25p245-277
Barros, A. N. F., Frazão, D. M., Anjos, L. C. M., & Aquino, J. T. (2018) O Impacto do Relato Integrado nas Empresas Participantes do Programa Piloto no Brasil. Revista de Contabilidade da UFBA, 12(3). https://doi.org/10.9771/rc-ufba.v12i3.26696
Ben-Amar, W., & McIlkenny, P. (2015). Board effectiveness and the voluntary disclosure of climate change information. Business Strategy and the Environment, 24(8), 704-719. https://doi.org/10.1002/bse.1840
Bizarria, C.T.M. (2013). Práticas de governança corporativa adotadas pelas companhias do setor de utilidade pública listadas na BM&FBOVESPA.
Brugni, T. V., Fávero, L. P. L., Klotzle, M. C., & Pinto, A. C. F. (2018). Conselhos de administração brasileiros: uma análise à luz dos formulários de referência. Advances in Scientific and Applied Accounting, 146-165. ttps://doi.org/10.14392/asaa.2018110108
Bukair, A. A., & Rahman, A. A. (2015). The effect of the board of directors' characteristics on corporate social responsibility disclosure by Islamic banks. Journal of Management Research, 7(2), 506. https://doi.org/10.5296/jmr.v7i2.6989
Chi, C. W., Hung, K., Cheng, H. W., & Lieu, P. T. (2015). Family firms and earnings management in Taiwan: Influence of corporate governance. International Review of Economics & Finance, 36, 88-98. https://doi.org/10.1016/j.iref.2014.11.009
Conselho Federal de Contabilidade. (2020). Norma Brasileira de Contabilidade, CTG 09, de 26 de novembro de 2020. Aprova o CTG 09, que trata sobre a Correlação à Estrutura Conceitual Básica do Relato Integrado. Recuperado de https://www.in.gov.br/web/ dou/-/norma-brasileira-de-contabilidade-ctg-09-de-26-de- novembro-de-2020-296458638
Cornett, M. M., Marcus, A. J., & Tehranian, H. (2008). Corporate governance and pay-for-performance: The impact of earnings management. Journal of Financial Economics, 87(2), 357-373. https://doi.org/10.1016/j.jfineco.2007.03.003
Correia, L. F., & Amaral, H. F. (2009). A eficiência do conselho de administração como mecanismo de controle dos custos de agência. Anais do Congresso Brasileiro de Custos-ABC, Fortaleza, Ceará, Brasil, 16.
Costa, G. M., dos Santos, B. A., Gomes, M. L. S., & Guimarães, D. B. (2021). A Influência das Características do Conselho de Administração na Divulgação Voluntária Ambiental. Gestão e Sociedade, 15(43). https://doi.org/10.21171/ges.v15i43.3541
Einhorn, E. (2005). The Nature of the Interaction between Mandatory and Voluntary Disclosures. Journal of Accounting Research, 43(4). https://doi.org/10.1111/j.1475-679X.2005.00183.x
Fernandes, R. B. (2020). Fatores associados à divulgação voluntária do relato integrado (Master's thesis, Universidade Federal do Rio Grande do Norte).
Forte, H. C., Silva, L. K. S., & de Abreu, M. C. S. (2021). Efeito da Estrutura do Conselho de Administração na Evidência de Práticas Ambientais e Sociais em empresas brasileiras. Revista Universo Contábil, 16(1), 119-135. https://doi.org/10.4270/ruc.2020106
Frias-Aceituno, J. V., Rodriguez-Ariza, L., & Garcia-Sanchez, I. M. (2013). The role of the board in the dissemination of integrated corporate social reporting. Corporate Social Responsibility and Environmental Management, 20(4), 219-233. https://doi.org/10.1002/csr.1294
Frias-Aceituno, J. V., Rodríguez-Ariza, L., & Garcia-Sánchez, I. M. (2014). Explanatory factors of integrated sustainability and financial reporting. Business strategy and the environment, 23(1), 56-72. https://doi.org/10.1002/bse.1765
Gandía, J. L. (2008). Determinants of internet‐based corporate governance disclosure by Spanish listed companies. Online Information Review, 32(6), 791-817. https://doi.org/10.1108/14684520810923944
García-Sánchez, I. M., Rodríguez-Ariza, L., & Frías-Aceituno, J. V. (2013). The cultural system and integrated reporting. International business review, 22(5), 828-838. https://doi.org/10.1016/j.ibusrev.2013.01.007
Gerwanski, J., Kordsachia, O., & Velte, P. (2019). Determinants of materiality disclosure quality in integrated reporting: Empirical evidence from an international setting. Business Strategy and the Environment, 28(5), 750-770. https://doi.org/10.1002/bse.2278
Ghani, E. K., Jamal, J., Puspitasari, E., & Gunardi, A. (2018). Factors influencing integrated reporting practices among Malaysian public listed real property companies: A sustainable development effort. International Journal of Managerial and Financial Accounting, 10(2), 144-162. https://doi.org/10.1504/IJMFA.2018.091662
Gul, F. A., Srinidhi, B., & Tsui, J. (2007). Do female directors enhance corporate board monitoring? Some evidence from earnings quality. Hong Kong Polytechnic University.
Gulzar, I., Tabash, M. I., Ahmad, G., Yazdani, W., & Alam, M. F. (2023). Investigating the nexus between corporate governance and firm performance in India: Evidence from COVID-19. Journal of Risk and Financial Management, 16(7), 307. https://doi.org/10.3390/jrfm16070307
Hair, J.F., Black, W.C., Babin, B.J., & Anderson, R.E. (2010). Multivariate Data Analysis. 7th Edition, Pearson, New York.
Hammond, K., & Miles, S. (2004). Assessing quality assessment of corporate social reporting: UK perspectives. In Accounting Forum, 28(1), 61-79. https://doi.org/10.1016/j.accfor.2004.04.005
Harvard Law School Forum on Corporate Governance. (2021). COVID-19 and comparative corporate governance. Retrieved from https://corpgov.law.harvard.edu
Hoque, M. E. (2017). Why company should adopt integrated reporting. International Journal of Economics and Financial Issues, 7(1), 241-248.
Hossain, M., & Hammami, H. (2009). Voluntary disclosure in the annual reports of an emerging country: The case of Qatar. Advances in Accounting, 25(2), 255-265. https://doi.org/10.1016/j.adiac.2009.08.002
Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
Kanagaretnam, K., Lobo, G. J., & Whalen, D. J. (2007). Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy, 26(4), 497-522. https://doi.org/10.1016/j.jaccpubpol.2007.05.003
Kilic, M., & Kuzey, C. (2018). Determinants of forward-looking disclosures in integrated reporting. Managerial Auditing Journal, 33(1), 115-144. https://doi.org/10.1108/MAJ-12-2016-1498
King, M. R., & Santor, E. (2008). Family values: Ownership structure, performance and capital structure of Canadian firms. Journal of Banking & Finance, 32(11), 2423-2432.
Kitagawa, C. H., & Ribeiro, M. D. S. (2009). Governança corporativa na América Latina: a relevância dos princípios da OCDE na integridade dos conselhos e autonomia dos conselheiros. Revista Contabilidade & Finanças, 20(51), 61-76. https://doi.org/10.1590/S1519-70772009000300005
Lagasio, V., & Cucari, N. (2019). Corporate governance and environmental social governance disclosure: A meta‐analytical review. Corporate Social Responsibility and Environmental Management, 26(4), 701-711. https://doi.org/10.1002/csr.1716
Liu, X., & Anbumozhi, V. (2009). Determinant factors of corporate environmental information disclosure: An empirical study of Chinese listed companies. Journal of Cleaner Production, 17(6), 593-600. https://doi.org/10.1016/j.jclepro.2008.10.001
Magerakis, E., Gkillas, K., Tsagkanos, A., & Siriopoulos, C. (2020). Firm Size Does Matter: New Evidence on the Determinants of Cash Holdings. Journal of Risk and Financial Management, 13(8), 163.
Mantovani, F. R. Jael, A. Lee, A. Beserra, I & Santos, R. B., (2017) Relato Integrado: Uma Análise da Evidenciação dos Capitais de uma Empresa Brasileira de Grande Porte. Redeca, 4(1).
Maria, S. C., d'Angelo, M. J., & Borgerth, V. M. D. C. (2021). Lacunas de engajamento e utilização do Relato Integrado no Brasil. Revista Contabilidade & Finanças, 33, 63-80. https://doi.org/10.1590/1808-057x202112040
Melloni, G., Stacchezzini, R., & Lai, A. (2016). The tone of business model disclosure: an impression management analysis of the integrated reports. Journal of Management and Governance.
McGuinness, P. B., Vieito, J. P., & Wang, M. (2017). The role of board gender and foreign ownership in the CSR performance of Chinese listed firms. Journal of Corporate Finance, 42, 75-99. https://doi.org/10.1016/j.jcorpfin.2016.11.001
Nascimento, Í. C. S. do, de Paula Pessoa, A. F., de Vasconcelos, A. C., & De Luca, M. M. M. (2021). Participação feminina no conselho de administração e a sustentabilidade empresarial. Revista Gestão Organizacional, 14(2), 138-163. https://doi.org/10.22277/rgo.v14i2.5381
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Pistoni, A., Songini, L., & Bavagnoli, F. (2018). Integrated reporting quality: An empirical analysis. Corporate Social Responsibility and Environmental Management, 25(4), 489-507. https://doi.org/10.1002/csr.1474
Prado-Lorenzo, J. M., García-Sánchez, I. M., & Gallego-Álvarez, I. (2009). Características del consejo de administración e información en materia de responsabilidad social corporativa. Spanish Journal of Finance and Accounting/Revista Española de financiación y contabilidad, 38(141), 107-135. https://doi.org/10.1080/02102412.2009.10779664
Prudêncio, P., Forte, H., Crisóstomo, V., & Vasconcelos, A. (2021). Effect of Diversity in the Board of Directors and Top Management Team on Corporate Social Responsibility. Brazilian Business Review, 18(2), 118–139. https://doi.org/10.15728/bbr.2021.18.2.1
Reis, L. G. dos, & de Morais, C. M. (2021). Relato Integrado: uma análise comparativa entre empresas brasileiras e europeias sob a ótica da Teoria Institucional. REUNIR Revista de Administração Contabilidade e Sustentabilidade, 11(1), 1-15.
Saks, Y. (2018). The relationship between corporate governance and integrated reporting quality. Journal of Business Ethics.
Silva, S. M. F. (2020). Relato Integrado: Investigação, Qualidade e Valor da Empresa (Doctoral dissertation, Instituto Politécnico do Porto. Escola Superior de Tecnologia e Gestão).
Simona, C., Maria, G. S., & Andrea, V. (2018). Does the market reward integrated report quality? African Journal of Business Management, 12(4), 78-91. https://doi.org/10.5897/AJBM2017.8469
Slewinski, E., Camacho, R. R., & Sanches, S. L. R. (2015). Análise Bibliométrica e Paradigmática da Produção Científica sobre Relato Integrado nos Periódicos Internacionais de Contabilidade. Anais do Congresso USP de Controladoria e Contabilidade, São Paulo, SP, Brasil, 15.
Soeiro, T. D. M., & Wanderley, C. D. A. (2019). A teoria institucional na pesquisa em contabilidade: uma revisão. Organizações & Sociedade, 26, 291-316. https://doi.org/10.1590/1984-9260895
Tunico, F. R. L. (2017). Divulgação dos capitais não financeiros do relato integrado pelas empresas brasileiras de capital aberto: uma análise à luz da teoria institucional (Master's thesis, Universidade Federal de Pernambuco).
Vitolla, F., Raimo, N., & Rubino, M. (2020). Board characteristics and integrated reporting quality: an agency theory perspective. Corporate Social Responsibility and Environmental Management, 27(2), 1152-1163. https://doi.org/10.1002/csr.1879
Vitolla, F., Raimo, N., Rubino, M., & Garzoni, A. (2020). The impact of national culture on integrated reporting quality. Journal of Management and Governance.
Xie, B., Davidson III, W. N., & DaDalt, P. J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295-316. https://doi.org/10.1016/S0929-1199(02)00006-8
Zaro, E. S. (2021). Relato Integrado e a Divulgação Corporativa para a Sustentabilidade. Revista Mineira de Contabilidade, 22(1), 4-11. https://doi.org/10.51320/rmc.v22i1.132
Downloads
Publicado
06-10-2025
Como Citar
Carvalho Veloso, C., & Nossa, V. (2025). Symbolic Compliance or Effective Governance? Board Characteristics and Integrated Reporting in Brazil. Revista De Educação E Pesquisa Em Contabilidade, 19. https://doi.org/10.17524/repec.v19.e3766
Edição
Seção
Artigos
Licença
Copyright (c) 2025 Revista de Educação e Pesquisa em Contabilidade (REPeC)
Este trabalho está licenciado sob uma licença Creative Commons Attribution 4.0 International License.
Autores que publicam nesta revista concordam com os seguintes termos:
a) Autores mantém os direitos autorais e concedem à revista o direito de primeira publicação, com o trabalho simultaneamente licenciado sob a Licença Creative Commons Attribution 3.0 Unported License, que permite o compartilhamento do trabalho com reconhecimento da autoria e publicação inicial nesta revista. Esta licença permite que outros distribuam, remixem, adaptem ou criem obras derivadas, mesmo que para uso com fins comerciais, contanto que seja dado crédito pela criação original.
b) Não cabe aos autores compensação financeira a qualquer título, por artigos ou resenhas publicados na REPeC.
c) Os artigos e resenhas publicados na REPeC são de responsabilidade exclusiva dos autores.
d) Após sua aprovação, os autores serão identificados em cada artigo, devendo informar à REPeC sua instituição de ensino/pesquisa de vínculo e seu endereço completo.
