Resumo

ROMERO, Francisca Tejedo  e  PONCE, Ángel Tejada. Incidence of corporate characteristics in the policy of voluntary disclosure of intellectual capital information: evidence in spanish companies. TMStudies [online]. 2013, vol.9, n.2, pp.78-85. ISSN 2182-8458.

This paper aims to identify the corporate characteristics of the Spanish companies included in the Ibex 35 stock market index, which influence the policy of voluntary disclosure of Intellectual Capital. The period analyzed comprised the years 2004 to 2008. The analysis was conducted from the point of view of the Theories of Resources and Capabilities Agency, Sign, Legitimacy and Stakeholders. We selected 115 annual reports for the 23 companies included in the IBEX 35. These reports contain data for 5 years. Using the methodology of "content analysis" we developed indices of disclosure. These indices quantify Intellectual Capital information, and their respective categories: Human, Relational and Structural Capital. For treatment of the data we carried out a descriptive analysis of the different variables. We also performed a multivariate logistic regression analysis by constructing four models for the Intellectual Capital and Human, Relational and Structural Capital. Our results reveal that companies that provide more information about Intellectual, Relational and Structural Capital are larger (measured by the number of employees). Another variable that has relevance in the case of providing information about the Relational Capital is the market to book ratio, and, in the case of human capital, the level of indebtedness. Furthermore, depending on the sector of activity we can say that more or less information is reported. Moreover, although we are in the Knowledge Society, companies provide little information on the Intellectual Capital and its categories.

Palavras-chave : Intellectual Capital Disclosure; Content Analysis; Disclosure Indices; Annual Reports; IBEX 35.

        · resumo em Espanhol     · texto em Espanhol     · Espanhol ( pdf )