Keywords: social disclosure, listed companies, capital markets, regulation, corporate governance, stock exchanges, voluntary disclosure, external social projects, Brazil, transparency, accountability
Social disclosure: up to where should the regulation go?
This study analysed whether the corporate governance requirements established by the stock exchanges contribute to the voluntary disclosure of the resources allocated for social projects. For this goal, an index of social disclosure was developed, which made it possible to assess the quality of the information on external social projects voluntarily published by the listed companies. Next, sample information of the 60 listed Brazilian companies was collected in BOVESPA and/or in NYSE, which, using the proposed index, allowed for the classification of the companies and the search for relations with their governance practices.