The Reputational Consequences Of Disclosures
In our study we focus on the determinants of reputation and, in particular, on the relation between the quality of annual report disclosures of companies and their reputation. We try to bring together two strands of literature: the literature on corporate reputation and the literature on corporate disclosures. Using data on corporate reputation and on quality of annual report disclosures for a sample of Spanish companies, we test the hypothesis that annual report disclosure quality is a crucial determinant of corporate reputation. After controlling for other possible determinants, especially size, we find significant evidence in favour of our hypothesis. Firms with a better annual report disclosure score are more likely to be rated among the top 50 national companies in terms of corporate reputation. Moreover the disclosure score positively affects the reputation score. Nuestro trabajo se centra en los determinantes de la reputación y, en particular,en la relación entre la calidad de la revelación de los informes anuales de las empresas ysu reputación. Tratamos de entrelazar dos grandes ramas de la literatura: la literaturarelativa a la reputación corporativa y la relacionada con revelación en los informesanuales. Utilizando datos de reputación empresarial y de calidad de los informes anualespara una muestra de empresas españolas, contrastamos la hipótesis de que la calidad dela revelación del informe anual es un determinante significativo de la reputaciónempresarial. Después de controlar el efecto de otros posibles determinantes,especialmente el tamaño, encontramos evidencia significativa a favor de nuestrahipótesis. Las empresas con mayor calidad de información en sus informes anualestienen más posibilidades de figurar entre las 50 mejores empresas españolas en términosde reputación.
|Date of creation:||Mar 2004|
|Publication status:||Published by Ivie|
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