The quantity and quality of narrative disclosures in management reportsCNMV guide effect

  1. Álvaro Melón-Izco 1
  2. Francisco J. Ruiz-Cabestre 1
  3. Carmen Ruiz-Olalla 1
  1. 1 Universidad de La Rioja
    info

    Universidad de La Rioja

    Logroño, España

    ROR https://ror.org/0553yr311

Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Ano de publicación: 2024

Volume: 53

Número: 3

Páxinas: 355-393

Tipo: Artigo

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DOI: 10.1080/02102412.2023.2283968 DIALNET GOOGLE SCHOLAR

Outras publicacións en: Revista española de financiación y contabilidad

Resumo

This study examines how compliance with the CNMV Guide impacts narrative disclosures in listed companies' management reports from 2010 to 2016. Analyzing text and visual elements, we introduce a novel measure for visual content. Additionally, we create a quality indicator surpassing traditional methods to accurately assess disclosure quality.Examining consolidated management reports from 2010 to 2016, we track changes in the quantity and quality of narrative disclosures, their influencing factors, and interrelationships. Findings show significant increases in text and visual length, with visuals growing relative to text. Adherence to the CNMV guide positively impacts text quantity but not visual elements. Moreover, companies complying with the CNMV guide demonstrate higher information quality, effectively meeting stakeholders' needs. These results underscore the positive impact of the CNMV guide on narrative disclosures in listed companies. Our research contributes insights into disclosure dynamics and underscores the importance of adherence to reporting guidelines.

Información de financiamento

Financiadores

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