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| Tekijä: | Silva Monteiro, S.M. da Aibar-Guzman, B. |
| Otsikko: | Determinants of environmental disclosure in the annual reports of large companies operating in Portugal |
| Lehti: | Corporate Social Responsibility and Environmental management
2010 : JUL-AUG, VOL. 17:4, p. 185-204 |
| Asiasana: | Portugal business forecasting foreign investment financial performance companies empirical research environmental accounting |
| Kieli: | eng |
| Tiivistelmä: | Uniform to what has happened in other countries, since the beginning of 1990s Portuguese companies have developed corporate environmental reporting practices, responding to internal and external factors. This article is based on empirical research directed to both the study of environmental reporting practices developed by Portuguese companies and the identification of the factors which explain how much these companies disclose environmental information. This paper focuses on the environmental disclosures made in the annual reports by of 109 large firms operating in Portugal in 2002-2004. Using the content analysis technique we have developed an index to evaluate the presence of the environmental disclosures in companies' annual reports and their extent. Based on prior literature, several characteristics relating to firms' attributes were selected and their effect on the level of environmental disclosure was empirically tested. Those were firm size, industry membership, profitability, foreign ownership, quotation on the stock market and environmental certification. The results expose that, regardless of the fact that the level of environmental information disclosed during 2002-2004 is low, the extent of environmental disclosure has risen along with the number of Portuguese companies that disclose environmental information. Furthermore, the firm size and a company's listing on the stock market are positively connected to the extent of environmental disclosure. This article adds to the international research on environmental disclosure by offering empirical data from a country, Portugal, where empirical evidence is still relatively unknown. Thus, the scope of the current understanding of the environmental reporting practices is extended. |
SCIMA