Analysis of Whistleblowing Channels in Companies in the Financial Intermediation Sector, Moderating By Company Size

Objective: The objective is to investigate the organizational determinants of the disclosure of whistleblowing channels by publicly traded companies, as well as to examine the moderate role of firm size in these relationships. Theoretical Framework: It is grounded in concepts of compliance, whistleblowing channels, and corporate governance. The importance of voluntary disclosure is highlighted as a method to mitigate information asymmetries and foster trust among investors and stakeholders. Method: Utilizing a quantitative and descriptive approach, the research examined 25 companies in the financial intermediation sector listed on the [B]3, in which the disclosure of whistleblowing channels was measured by a 29-item checklist. Data analysis was performed using linear regression, including interaction terms to explore moderating effects. Results and Discussion: The results indicate that profitability positively influences the disclosure of whistleblowing channels, while indebtedness exerts a significant negative effect. Size and age did not show relevance in disclosure. Firm size, however, intensifies the relationship between indebtedness and the disclosure of whistleblowing channels, while simultaneously decreasing the impact of profitability. Research Implications: The theoretical and practical implications of this study contribute to literature by highlighting the relevance of organizational factors in the promotion of whistleblowing channels and suggesting that economic and financial conditions impact transparency practices, affecting governance and compliance, in addition to contributing to the reduction of information asymmetries. Originality/Value: The study enhances the understanding of the voluntary disclosure of whistleblowing channels, considering organizational determinants and the moderating effect of firm size.