Abstract
Objective: This research aims to analyze the level of disclosure of sustainability information, which mitigates information asymmetry, of Brazilian and German credit unions. Theoretical Framework: The study draws upon literature concerning sustainability information disclosure, information asymmetry, governance, and the role of credit unions in promoting transparency and corporate social responsibility. Method: The study was conducted with a sample of the 30 largest credit unions in Brazil and Germany, totaling 60 credit unions. Sixty indicators across four categories of sustainability were employed, analyzed in the annual reports of the sampled cooperatives from the year 2021. Subsequently, Student's t-tests and Mann-Whitney U tests were utilized to compare the level of compliance between the cooperatives in Brazil and Germany. Results and Discussion: The results demonstrate a statistically significant difference in the disclosure of sustainability information between Brazilian and German credit unions, with the latter exhibiting higher disclosure in their annual reports. Furthermore, a statistically significant difference was observed in the disclosure of economic and environmental information between the two countries, while differences in the social and cultural pillars were not evidenced. Research Implications: The findings of this study hold significant implications for credit unions, emphasizing the need for increased transparency and disclosure of sustainability information, particularly in the Brazilian context. Originality/Value: This study contributes to the literature by providing insights into sustainability information disclosure in credit unions, particularly through a comparison of practices between Brazil and Germany. Additionally, it underscores the importance of transparency and corporate social responsibility in this sector.
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More From: International Journal of Professional Business Review
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