Intellectual capital disclosures in corporate reports of listed companies in the Latin American integrated market

Abstract

The significance of intellectual capital for companies and society continues to grow. This study aims to evaluate the level of disclosure of intellectual capital information in the corporate reports of companies listed on the four stock exchanges of the Latin American Integrated Market (MILA). Reports from 85 companies were analyzed using a checklist of 21 indicators, facilitating the development of an intellectual capital disclosure index. This index is compared across countries and correlated with seven independent variables. The results indicate that human capital is the most frequently disclosed dimension, whereas relational capital is the least disclosed. The variables sector, indebtedness, and participation of women on the board are significant for measuring intellectual capital disclosure. These findings advance the discussion from a Latin American perspective and address a knowledge gap by providing evidence to inform new reporting strategies.