CAPIC REVIEW

Journal of Accounting, Auditing and Business Management

ISSN 0718-4662

logo revista Capic Review
Vol. 23 (2025): CAPIC REVIEW
Investigation

Corporate governance disclosures through integrated reporting in emerging markets: the Chilean case.

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  • José Navarrete-Oyarce,
  • Hugo A. Macias
José Navarrete-Oyarce
Universidad Andres Bello
Hugo A. Macias
Universidad de Medellin
DOI: https://doi.org/10.35928/cr.vol23.2025.250
Categories

Published 2026-01-16

Keywords

  • Corporate Governance,
  • Integrated Reporting,
  • IR,
  • South America,
  • Chile,
  • Legitimacy Theory
    • ...More
    Less

How to Cite

Navarrete-Oyarce, J., & Macias , H. A. (2026). Corporate governance disclosures through integrated reporting in emerging markets: the Chilean case. CAPIC REVIEW, 23, 1–16. https://doi.org/10.35928/cr.vol23.2025.250

Copyright (c) 2025 José Navarrete-Oyarce, Hugo A. Macias

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Abstract

Research into integrated reporting (IR) and corporate governance (CG) has recently expanded to include emerging markets. This study examines how a group of Chilean companies disclose their corporate governance practices through integrated reporting. Chile is the second most popular South American country for IR after Brazil. The authors conducted a content analysis of IR documents submitted by ten Chilean companies in 2020, 2021 and 2022, using the ATLAS.ti tool to support their analysis. Chilean companies widely disclose four of the eight corporate governance codes defined by the Integrated Reporting Framework of the International Integrated Reporting Council (IIRC): (1) oversight actions, (2) leadership structure, (3) organisational culture and values, and (4) the decision-making process. The other codes were rarely disclosed in reports during the analysed period. This study focuses on Corporate Government (CG) disclosures from the IR framework rather than the broader components of CG literature. The three companies with the highest level of disclosure operate in four or more countries; therefore, internationalisation has a positive effect on corporate governance disclosures by Chilean companies.

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