The impact of the characteristics of the Board of Directors on the disclosure of the common benefit: An empirical analysis in benefit companies

Journal title MANAGEMENT CONTROL
Author/s Arcangelo Marrone, Lara Oliva, Vincenzo Pontrelli, Angela Rella
Publishing Year 2024 Issue 2024/2
Language Italian Pages 25 P. 39-63 File size 268 KB
DOI 10.3280/MACO2024-002003
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This study aims to analyze the level of disclosure of impact reports that Italian benefit companies are required to prepare annually, as well as to investigate the impact of some antecedents related to the board characteristics such as size, gen-der diversity, age, and independence on it. Through content analysis of impact reports and testing on a sample of 100 Italian benefit companies, four hypotheses based on Signalling theory were examined us-ing cross-sectional OLS regression. The findings show a generally moderate level of disclosure in impact reports and a positive impact of board size, gender diversity, and independence. This study en-riches both the literature related to Italian benefit companies and sustainability disclosure. The practical implications suggest that companies aiming to enhance disclosure may benefit from larger administrative structures with increased repre-sentation of women and independent members.

Keywords: Corporate Social Disclosure, Italian Benefit Companies, Impact Re-port, Board Characteristics

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Arcangelo Marrone, Lara Oliva, Vincenzo Pontrelli, Angela Rella, L’impatto delle caratteristiche del Consiglio di Amministrazione sulla disclosure del beneficio comune: un’analisi empirica nelle aziende benefit in "MANAGEMENT CONTROL" 2/2024, pp 39-63, DOI: 10.3280/MACO2024-002003