Corruption is a very important topic in society but also for businesses. However, there are few empirical studies that analyze corruption from the point of view of disclosure by companies and none that analyze its effect in corporate reputation. The aim of this paper is to use stakeholder theory to analyze the potential power of reporting in influencing stakeholders' perceptions and communication tools, such as sustainability reports, to bolster corporate reputation in relation to the social issue of corruption. Based on a regression analysis using data from the 70 largest European companies, we find that disclosure positively correlates with social reputation in the anti-corruption area. The study addresses a gap in the literature by highlighting the fact that this global and key social issue has not yet been analyzed empirically.

Objective -This paper analyzes whether the anti-corruption reporting practices of the companies are a reflection of adequate anti-corruption systems put in place by companies, or whether the disclosure is merely a tool for companies to improve their reputation and thus maintain their legitimacy.Design/methodology/approach -We apply the PLS method to the collected data in a content analysis of the sustainability reports of 31 companies within the Ibex 35 in December 2008.Theoretical foundation -In the analysis, we use both the legitimacy theory and the stakeholder theory, because we consider them as complementary theories and consistent with our approach.Findings -The results show that regarding the corruption issue there is a negative relationship between disclosure and performance, that is, companies with poor performance disclose more. On the other hand, the results reflect the existence of a positive relationship between disclosure and reputation, i.e. report information to interested parties enhances the perception of stakeholders about the company. This finding could be justified by the above two theories. However, we can't conclude that companies with good performance disclose information to key stakeholders in order to strengthen relations, as stated by the stakeholder theory.Practical implications -this study provides evidence of how companies use non-financial reporting-specifically anti-corruption data-to improve corporate reputation. It is also noted that reporting practices not necessarily have to be in accordance with the actual anticorruption practices of firms.

Corruption is a key factor that affects countries’ development, with emerging countries being a geographical area in which it tends to generate greater negative effects. However, few empirical studies analyze corruption from the point of view of disclosure by companies in this relevant geographical area. Based on a regression analysis using data from the 96 large companies from 15 emerging countries included in the 2016 International Transparency Report, this paper seeks to understand what determinants affect such disclosure. In that context, this paper provides empirical evidence to understand the factors that influence reporting on anti-corruption mechanisms in an area of high economic importance that has been little studied to date, pointing to the positive effect of press freedom in a country where the company is located and with the industry being the unique control variable that strengthens this relationship.

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