La divulgación voluntaria de información social corporativa. Factores explicativos de su revelación en Argentina.
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Universidad Nacional de Rosario
Resumen
La proliferación de directrices para la preparación de información social y de sostenibilidad ha
generado una relación discrecional de las entidades con sus stakeholders que atenta contra la
efectiva rendición de cuentas.
La investigación profundiza el conocimiento de la divulgación voluntaria de información social y
de sostenibilidad, con el objetivo general de identificar y analizar los factores que explican la
relación de la información voluntaria divulgada y los atributos del gobierno corporativo,
proponiendo un modelo explicativo de la divulgación que permite predecir y comprender el
comportamiento de las variables involucradas. Se trata de un estudio descriptivo y explicativo
que recurre a métodos cualitativos, como el análisis de contenido, y también cuantitativos al
aplicarse la técnica de regresión lineal múltiple con el fin de evaluar la relación planteada.
En la investigación empírica se analizan las Memorias del Directorio de las entidades que
integran el panel BYMA período 2016-2019 evaluando los contenidos revelados revelado y
calculando el ISOC para 216 observaciones que se obtienen para las 54 entidades que integran
la población bajo estudio.
Se han identificado previamente 28 contenidos materiales a revelar, relacionando los estándares
GRI con los ODS de la Agenda 2030, en base a la SDG Compass y diseñando además una
herramienta de medición capaz de captar características cuantitativas y semánticas del contenido
revelado que se sintetizan en diseño del índice de divulgación de información social y de
sostenibilidad: ISOC.
Del análisis realizado se concluye que las buenas prácticas de Gobierno Corporativo,
representadas por el tamaño del Directorio, la proporción de directores independientes, la
diversidad de integrantes y separación de cargos estratégicos, inciden en la revelación voluntaria
de información, afectando la discrecionalidad del Presidente del Directorio u órgano de gobierno
equivalente. Si bien la influencia conjunta de estos atributos es moderada, en particular el tamaño
del Directorio y la mayor proporción de integrantes independientes favorecen muy
significativamente la revelación voluntaria de información en las Memorias del Directorio,
mejorando la materialidad del contenido revelado y por ende la rendición de cuentas y la
transparencia.
En este escenario los Directorios tienen la oportunidad de mejorar la comunicación y la rendición
de cuentas sin necesidad de afrontar los costos de preparar un informe específico, midiendo la
cantidad, materialidad y rigurosidad o precisión de los datos revelados, dejando en evidencia la
necesidad de que las organizaciones adopten un enfoque más riguroso y comprometido con la
divulgación de información social y la sostenibilidad para convertirse en verdaderos agentes de
transformación hacia un futuro más ético y sostenible.
The proliferation of guidelines for the elaboration of social and sustainability information has generated a discretionary relationship between entities and their stakeholders that undermines effective accountability. The research deepens the knowledge of voluntary disclosure of social and sustainability information, with the general objective of identifying and analyzing the factors that explain the relationship between voluntary information disclosed and the attributes of corporate governance proposing an explanatory disclosure model that allows predicting and understanding the behavior of the variables involved. This is a descriptive and explanatory study that uses qualitative methods, such as content analysis, and also quantitative methods by applying the multiple linear regression technique in order to evaluate the proposed relationship. In the empirical research, the board of directors' reports of the entities that make up the BYMA panel period 2016-2019 are analyzed by evaluating the disclosed contents revealed and calculating the ISOC for 216 observations obtained for the 54 entities that make up the population under study. Twenty-eight material contents to be disclosed have been previously identified, relating the GRI standards with the SDGs of the 2030 Agenda, based on the SDG Compass and also designing a measurement tool capable of capturing quantitative and semantic characteristics of the disclosed content that are synthesized in the design of the social and sustainability information disclosure index: ISOC. The analysis concluded that good corporate governance practices, represented by the size of the board of directors, the proportion of independent directors, the diversity of members and the separation of strategic positions, have an impact on voluntary disclosure of information, affecting the discretion of the chairman of the board or equivalent governing body. Although the combined influence of these attributes is moderate, in particular the size of the board and the higher proportion of independent members significantly favor voluntary disclosure of information in board reports, improving the materiality of the disclosed content and therefore accountability and transparency. In this scenario, boards have the opportunity to improve communication and accountability without having to face the costs of producing a specific report, measuring the quantity, materiality and accuracy of the data disclosed, highlighting the need for organizations to adopt a more rigorous and committed approach to the disclosure of social information and sustainability in order to become true agents of transformation towards a more ethical and sustainable future.
The proliferation of guidelines for the elaboration of social and sustainability information has generated a discretionary relationship between entities and their stakeholders that undermines effective accountability. The research deepens the knowledge of voluntary disclosure of social and sustainability information, with the general objective of identifying and analyzing the factors that explain the relationship between voluntary information disclosed and the attributes of corporate governance proposing an explanatory disclosure model that allows predicting and understanding the behavior of the variables involved. This is a descriptive and explanatory study that uses qualitative methods, such as content analysis, and also quantitative methods by applying the multiple linear regression technique in order to evaluate the proposed relationship. In the empirical research, the board of directors' reports of the entities that make up the BYMA panel period 2016-2019 are analyzed by evaluating the disclosed contents revealed and calculating the ISOC for 216 observations obtained for the 54 entities that make up the population under study. Twenty-eight material contents to be disclosed have been previously identified, relating the GRI standards with the SDGs of the 2030 Agenda, based on the SDG Compass and also designing a measurement tool capable of capturing quantitative and semantic characteristics of the disclosed content that are synthesized in the design of the social and sustainability information disclosure index: ISOC. The analysis concluded that good corporate governance practices, represented by the size of the board of directors, the proportion of independent directors, the diversity of members and the separation of strategic positions, have an impact on voluntary disclosure of information, affecting the discretion of the chairman of the board or equivalent governing body. Although the combined influence of these attributes is moderate, in particular the size of the board and the higher proportion of independent members significantly favor voluntary disclosure of information in board reports, improving the materiality of the disclosed content and therefore accountability and transparency. In this scenario, boards have the opportunity to improve communication and accountability without having to face the costs of producing a specific report, measuring the quantity, materiality and accuracy of the data disclosed, highlighting the need for organizations to adopt a more rigorous and committed approach to the disclosure of social information and sustainability in order to become true agents of transformation towards a more ethical and sustainable future.