Directive 2014/95/EU (the EU Directive) requires large companies to disclose infor- mation on the way they operate and manage social and environmental challenges, thus shifting the disclosure of non-financial information (NFI) from the voluntary to the mandatory realm. Building on the idea that regulatory changes can shape stake- holder expectations, we hypothesized that legitimacy (agency) theory's ability to pre- dict NFI disclosure after the implementation of the EU Directive, and hence after NFI disclosure became mandatory, would decrease (increase). By relying on a hand- collected data set measuring NFI disclosure, we have found that legitimacy theory maintains its predictive ability in the new mandatory setting, while agency theory's predictive ability partially increases.
Autori: | Silvia Panfilo (Corresponding) |
Data di pubblicazione: | 2020 |
Titolo: | The predictive ability of legitimacy and agency theory after the implementation of the EU directive on non-financial information |
Rivista: | CORPORATE SOCIAL-RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT |
Digital Object Identifier (DOI): | http://dx.doi.org/10.1002/csr.1968 |
Volume: | 27 |
Appare nelle tipologie: | 2.1 Articolo su rivista |
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Mio et al. (2020). The predictive ability of legitimacy and agency theory after the implmentation of the EU directive on non-financial information.pdf | Documento in Post-print | Accesso gratuito (solo visione) | Open Access dal 07/07/2022 |