This paper investigates the relationship between ownership concentration and human capital disclosure in sustainability report, using both the agency theory and the proprietary costs theory. The findings show a negative relationship between ownership concentration and the level of human capital disclosure. The results also reveal that the association between ownership concentration and human capital disclosure is stronger for companies characterized by higher proprietary costs. This study contributes to the literature on human capital disclosure in different ways. First, we develop a wider human capital disclosure index, that could be utilized in future studies, and use this index to investigate the information released in the sustainability report. Moreover, this is the first study, to the best of our knowledge, examining the role of proprietary costs as a potential explanatory determinant, in conjunction with ownership structure, of human capital disclosure released in sustainability report.
The moderating effect of proprietary costs in the relation between ownership structure and human capital disclosure in sustainability report
PISANO S.
;LEPORE L.;DI VAIO A.;LANDRIANI L.
2018-01-01
Abstract
This paper investigates the relationship between ownership concentration and human capital disclosure in sustainability report, using both the agency theory and the proprietary costs theory. The findings show a negative relationship between ownership concentration and the level of human capital disclosure. The results also reveal that the association between ownership concentration and human capital disclosure is stronger for companies characterized by higher proprietary costs. This study contributes to the literature on human capital disclosure in different ways. First, we develop a wider human capital disclosure index, that could be utilized in future studies, and use this index to investigate the information released in the sustainability report. Moreover, this is the first study, to the best of our knowledge, examining the role of proprietary costs as a potential explanatory determinant, in conjunction with ownership structure, of human capital disclosure released in sustainability report.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.