This study investigates IC disclosure reported by Italian listed companies before and after the introduction of the European Directive, with the aim to evaluate the effects of the new regulation on companies’ IC disclosure practices in their management reports. The European Directive has been transposed into Italian legislation by the Legislative Decree 254/2016 with no significant differences. Before this Legislative Decree, IC disclosure in Italy was mainly voluntary, as only few general requirements, included in the article 2428 of the Italian Civil Code, regulated non-financial disclosure in management reports. This makes Italy an interesting setting for this analysis. This study focuses on the FTSE MIB 40 Index, which includes the largest public listed companies. Due to the mainly narrative nature of IC disclosure, the analysis is based on a manual content analysis. To this extent, we develop a specific coding framework to examine IC disclosure in the pre- (2016) and post- (2017) Legislative Decree application. Our explanatory analysis is a first attempt to evaluate the effects of the new regulation introduced by the European Directive on IC disclosure in management reports. Furthermore, our analysis enriches the debate about the regulation of non-financial disclosure, with a specific focus on IC disclosure.
The Intellectual Capital Disclosure in the Management Report Before and After the European Directive 95/2014 in Italy / Michela Cordazzo; Laura Bini; Lucia Marsura. - ELETTRONICO. - (2022), pp. 203-217.
The Intellectual Capital Disclosure in the Management Report Before and After the European Directive 95/2014 in Italy
Laura Bini
;
2022
Abstract
This study investigates IC disclosure reported by Italian listed companies before and after the introduction of the European Directive, with the aim to evaluate the effects of the new regulation on companies’ IC disclosure practices in their management reports. The European Directive has been transposed into Italian legislation by the Legislative Decree 254/2016 with no significant differences. Before this Legislative Decree, IC disclosure in Italy was mainly voluntary, as only few general requirements, included in the article 2428 of the Italian Civil Code, regulated non-financial disclosure in management reports. This makes Italy an interesting setting for this analysis. This study focuses on the FTSE MIB 40 Index, which includes the largest public listed companies. Due to the mainly narrative nature of IC disclosure, the analysis is based on a manual content analysis. To this extent, we develop a specific coding framework to examine IC disclosure in the pre- (2016) and post- (2017) Legislative Decree application. Our explanatory analysis is a first attempt to evaluate the effects of the new regulation introduced by the European Directive on IC disclosure in management reports. Furthermore, our analysis enriches the debate about the regulation of non-financial disclosure, with a specific focus on IC disclosure.File | Dimensione | Formato | |
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