Public value disclosure by Brazilian federal universities

This research analysed Brazilian Federal Universities to investigate the determinants of the public value disclosure. Based on the Public Value Disclosure Index, the Management Reports of 65 Brazilian universities were subjected to a content analysis to measure the level of public value disclosure, both in general and for each perspective of the public value strategic triangle. Beta regression was then applied to the index results to identify the determinants of the level of disclosure. The results converge with previous studies on the low disclosure of items related to the Legitimacy and Support perspective and the high disclosure of Operational Capacity indicators. The similar behaviour to developed countries can be explained by the strong influence of coercive isomorphism instruments, evidenced both in the disclosure of items related to public value and in the disclosure format. The quantitative analysis emphasises that financial efficiency, in terms of lower cost per student, and better governance, in terms of leadership, strategy and control, have an impact on the level of public value disclosure. This study contributes by highlighting the importance of developing specific guidelines as an effective strategy for better adapting public value disclosure to contemporary requirements of transparency and accountability.