Transparency in utility companies listed in Latin America: Online financial disclosure
Transparencia en las empresas de servicios públicos listadas en Latinoamérica: divulgación financiera en internet
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This paper aims at examining financial information disclosure practices by utility Companies (UCs) listed in México, Chile, Colombia, and Perú, and identify online financial information disclosure determinants. This study employed a sample of 70 listed UCs, and an Internet Financial Information Index (IFI) appropriate for the UC industry's particularities. Furthermore, a multivariate analysis by ordinary least squares is performed to identify the determinants behind the IFI disclosure results. The results show that listed UCs display an average of 67.9% IFI disclosure. The company size and return on equity variables showed a positive and meaningful relationship with IFI, while indebtedness and return on assets showed a significant yet negative relationship with it.
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