RT journal article
T1 SOEs' commitment to transparency: Voluntary disclosure as a driver of mandatory disclosure
A1 Biedma López, Estíbaliz
A1 Larrán Jorge, Manuel
A1 Gómez Aguilar, María de las Nieves
A1 Conesa Carril, María del Carmen
A2 Economía Financiera y Contabilidad
K1 CSR transparency
K1 financial and non-financial information
K1 mandatory disclosure
K1 state-owned enterprises
K1 voluntary disclosure
AB Non-compliance with transparency obligations among publicly owned enterprises has revealed the lack of coercive capacity of the legislation. In this context, literature suggests that mandatory disclosure becomes a matter of company willingness, but this has not been empirically tested so far. Drawing on Oliver's (1991) typology of organizational strategies and studies on normativity production, this study analyzes whether voluntary disclosure levels of financial and non-financial information determine compliance with transparency legal requirements for the case of Andalusian state-owned enterprises (SOEs) owned by local and regional governments. We have verified this question using linear regression analysis. The analysis proves that when transparency legislation lacks enforcement power, the level of voluntary disclosure determines the level of legal compliance. Both voluntary and mandatory disclosure levels are explained by the same determinants, suggesting that disclosure is determined by reasons of legitimacy and commitment to transparency. This contributes to the research lines on normativity and transparency in SOEs, being also relevant for lawmakers. This study provides evidence for Oliver's (1991) theoretical arguments about firms' strategies in the face of institutional pressures. It offers policy-makers and SOE managers an insight into how prepared SOEs are to respond to the demands for greater transparency.
PB Wiley
SN 1370-4788
YR 2024
FD 2024-01-13
LK http://hdl.handle.net/10498/31335
UL http://hdl.handle.net/10498/31335
LA eng
DS Repositorio Institucional de la Universidad de Cádiz
RD 07-nov-2026