Non-Financial Disclosure and Intra-Industry Comparability: A Macro, Meso and Micro Analysis

The inadequacy of financial reports for meeting the information needs stakeholders has prompted companies to adopt non-financial communication systems (also called disclosure—NFD). Comparability NFD is an issue as it allows making sense information. Nevertheless, while some argue that comparability particularly difficult pursue in practice on a general level, can be achieved among belonging same industry. This study aims understand whether, at empirical and what extent (macro, meso or micro). To achieve this aim, text analysis was performed. object represented by published listed energy banking industries, part Dow Jones sustainability index. main results are following. First, there de facto terms adopted standards, but not how standards applied. Second, phenomenon label creativity represents relevant barrier. Third, although content standardization lacking, common dimensions seem emerge. appears invitation policymakers transpose virtuous behavior implement desired harmonization jure.