Search results

The economic literature shows contradictory results when the relationship between corporate governance and financial position is assessed. The purpose of this paper is to analyze the role of the online disclosure of information, as an omitted variable, in this relationship.

In order to test the role of the online disclosure of information, a set of the structural equation models is evaluated. In these models, the indirect effect of the online disclosure on the relationship between corporate governance and the financial position, defined by performance, funding and investment, is analyzed.

Using data from a sample of 252 Spanish public non-profits between 2012 and 2016, the authors found that the development of corporate governance practices is not, by itself, able to improve the financial position of these organizations. These improvements can only be achieved if the online disclosure is promoted.

Organizations should not only follow corporate governance practices but also communicate to the stakeholders the degree of development of these practices in an exercise of accountability. Finally, Web 3.0 practices must be promoted because they can be a mechanism to reinforce corporate governance practices and achieve a solid financial position.

This study contributes to the debate about the role of the online disclosure, introducing this transparent practice as a variable omitted by previous research. Moreover, the authors have considered the evolution for a period of four years in relation to the information published by each organization on the internet.

This study aims to analyse the role of persistence in the assessments carried out by sustainability agencies in the interaction between sustainability committee characteristics, sustainability strategies and performance.

The authors accessed a sample of European sustainable multinational and transnational companies (EMNs) for the period 2008–2017 from RobecoSAM universe. Using a set of simultaneous equation models, the authors test the effect of the sustainability committee on sustainability performance considering the sustainability strategy as a mediating element. Moreover, the authors analysed if the persistent assessment of sustainability agencies conditions the previous interaction.

Persistence of the sustainability assessment performed by an external agency is necessary to support the sustainability strategy and the sustainability committee, legitimating an organization in its institutional context.

This study provides practitioners with relevant insights into the identification of the sustainability strategy followed by an EMN and the effects associated with it can be useful for social and economic agents in decision-making processes.

A persistent assessment could be a signal over time of the evolution of organizations, reinforcing the monitoring mechanisms. It is a stimulus to EMNs as they obtain both an indicator of their levels of performance and public recognition.

The lack of similarity in the levels of sustainable performance observed among companies can be explained by the persistence, which is an omitted variable in previous studies.

Social economy organizations (SEOs) are a hybrid model where relations with stakeholders are managed using transparency mechanisms. The purpose of this paper is to analyze the role that online accessibility (which is understood to be a tool to implement transparency) has in raising financial resources and to assess its impact on economic and social achievements. Moreover, the authors study the interaction between online accessibility and external verification.

This study analyzes the behavior of 1,400 SEOs between 2009 and 2012 using a structural equation model and the MPLUS 7.4 software, which is based on covariance analysis.

The results show that transparency, which is understood as online accessibility, assists in raising financial resources and enhances SEO economic and social achievements. The authors also note that external verifications favor the economic achievements of SEOs but do not improve their social achievements.

This research has two limitations: this study refers only to Spanish SEOs and no consensus exists on how to measure economic and social performance. Therefore, the conclusions should be considered with caution in other regulatory and cultural fields. The main implications of this work are the criteria the authors provide to help decision makers decide on the transparency model that SEOs should develop according to their management needs.

This study bridges a gap in the current research by increasing understanding of the role of accessibility as being the most important tool for an organization that strives to embody transparent behavior.