Accountability through intellectual capital disclosure in Italian Universities Hot

This paper aims to investigate intellectual capital disclosure (ICD) provided by Italian
public universities in their annual reports and to identify and examine its drivers.
An empirical analysis of annual reports of Italian public universities for the year
2014 is conducted through content analysis. The information retrieved from this
forms the basis for regression analysis (OLS model) to relate the disclosure index
to its drivers which include governance features, financial performance and control
variables. The empirical analysis shows that human and internal (organisational)
capital are the most disclosed categories of intellectual capital. The results also
show that board independence and university size positively affect ICD in Italian
public universities. The methodology adopted in this study could be replicated for
other countries to obtain a better understanding of how ICD can help meet stakeholder
information needs. The results provide a useful basis for further investigation
into ICD drivers and influences and may also enable regulators and standard setters
to better understand and regulate IC practices in universities.