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Pierluigi Santosuosso

Authors and WSEAS

Pierluigi Santosuosso

WSEAS Transactions on Business and Economics

Print ISSN: 1109-9526
E-ISSN: 2224-2899

Volume 16, 2019

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of WSEAS Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

Volume 16, 2019

Code of Ethics versus Annual Report: Analysis of Environmental Disclosures

AUTHORS: Pierluigi Santosuosso

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ABSTRACT: This paper compares environmental disclosure in Codes of Ethics and in Annual Reports. On the basis of a sample of 197 Italian listed firms, research findings reveal that firm size, capital intensity and industry classification are positively associated with the level of environmental disclosure in both documents. We also examine environmental disclosure by exploring the consistency between the information presented in the two documents. Disclosure consistency is defined as the logarithm of the level of environmental disclosure in the Annual Reports divided by the level presented in the Code of Ethics. It is found that disclosure consistency is positively associated with firm size and capital intensity. Industry classification and ownership dispersion also affect disclosure consistency when firm subsamples are considered.

KEYWORDS: environmental disclosure; code of ethics; annual report; Italian listed companies


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WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #27, pp. 239-250

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