Corporate disclosure and intellectual capital: the light side of information asymmetry. (2016)

• Record Type: Journal Article
• Authors: Caputo, Francesco; Giudice, Manlio Del; Evangelista, Federica; Russo, Giuseppe
• Is Part Of: International journal of managerial and financial accounting. Volume 8:Number 1(2016)
• Page Start: 75
• Page End: 96
• Publication Date: 2016
• Subjects: information asymmetry -- intellectual capital -- legitimacy theory -- signalling theory -- voluntary disclosure -- corporate disclosure -- human resources; Accounting -- Periodicals; Managerial accounting -- Periodicals; 657.05
• Languages: English
• ISSNs: 1753-6715

Abstract

The paper aims to undertake an in-depth analysis role and contribution of voluntary corporate disclosure and intellectual capital to improve the 'quality' of relationships between companies and the market. Building upon the conceptual framework offered by signalling theory and legitimacy theory, a conceptual approach is used to identify possible advancements in the management of voluntary corporate disclosure and intellectual capital. To support the reflections herein, some evidence of the increasing relevance of human resources and the consequence of participation of human resources in the definition of corporate strategies is analysed in the perspective of information asymmetry. The papers highlight the need for companies: (1) to develop approaches better able to 'feel' the market; (2) to exploit the contribution of human resources in understanding the market; (3) to improve approaches to corporate disclosure based on the contribution of intellectual capital in order to reduce information asymmetry within the market.