Ownership structure and economic and socio-environmental disclosure in the largest Brazilian companies

• Published in: Revista de educação e pesquisa em contabilidade Vol. 9; no. 4
• Main Authors: Tatiana Aquino Almeida, Lahis Muriel Feliciano dos Santos, Augusto Cézar de Aquino Cabral, Sandra Maria dos Santos, Maria Naiula Monteiro Pessoa
• Format: Journal Article
• Language: English
• Published: Conselho Federal de Contabilidade (CFC) 01-01-2016
• Subjects: Divulgação; Estrutura de propriedade e controle; Evidenciação; Responsabilidade Social Corporativa (RSC); Sustentabilidade
• ISSN: 1981-8610
• DOI: 10.17524/repec.v9i4.1289

The disclosure of sustainable practices has become important in the search for competitive advantage, so as to meet the expectations of the various stakeholders. Thus, the study aims to investigate the relationship between the ownership structure and the economic and environmental voluntary disclosure in the largest Brazilian companies, analyzing ownership concentration and the identity of the controlling shareholder. For the analysis, we considered the economic, social and environmental perspectives, addressed both individually and jointly. The sample consists of 47 companies from the 100 largest public companies listed on BM&FBOVESPA, according to the magazine Exame Biggest and Best, edition 2013. The research is descriptive and quantitative, using Multiple Linear Regression for statistical analysis. The descriptive analysis of the prospects of (economic, social, environmental and sustainability) disclosure showed lower average disclosure for the environmental aspect. The state control organizations stood out with the highest average in three of the four levels of disclosure: economic, social and sustainability. As regards the application of statistical analysis, the regression models were not statistically significant, indicating that, for the companies in the sample, the ownership structure does not influence the economic and socio-environmental disclosure.