Structure of the boards of directors and disclosure of corporate social responsibility: The case of the most reputable companies in colombia

Abstract

Large companies seek to improve their legitimacy through the disclosure of information about their non-financial management in corporate social responsibility (CSR). However, the relationship between the board structure and a greater disclosure of environmental and social indicators, given an ownership structure and a level of corporate reputation, has not been studied, especially in emerging economies. Using a debate between agency and resource dependence theory with a sample of 115 companies listed in Merco Colombia, this research concludes with a multivariate analysis that size, independence, and ethics, governance and sustainability committees affect the disclosure in the Global Reporting Initiative (GRI) on CSR in non-family businesses with a strong reputation.