Mandatory versus voluntary disclosures

Abstract

The aim of this paper is to develop the findings of previous research on policies regarding online proactive information disclosure, both voluntary and mandatory. We present and analyze new evidence on the factors that influence decisions taken in this respect. This study is focused on Central America, a region that has received little previous research attention on these issues. To achieve the study goals, we analyze the online information disclosure made by local authorities, regarding both the degree of compliance with legal requirements and the volume of information provided voluntarily. Finally, with respect to the same two types of information provision, we determine the influence of environmental factors on online information disclosure. The results obtained show that transparency is more an issue of attitude than of laws, and highlight the existence of a large gap between legal requirements and actual performance.