The objective of the study is to examine the extent of disclosure of intellectual capital (IC) items, made by major Indian corporates indexed in Nifty 50, main index of National Stock Exchange (NSE). The sub-objective is examination of association if any, between the disclosure of IC by these corporates and factors such as sector, size, leverage, ownership structure, proportion of independent directors on board and profitability of the respective companies. The study discloses that a higher percentage of service sector companies have a high disclosure level as compared to industrial or other sector companies. The data reveal that company size and independence of the board (indicated by percentage independent directors) are positively associated and significant determinants of disclosure. The company size plays a more important role in influencing disclosure levels in industrial sector companies as compared to service sector. Companies with higher leverage and higher government ownership are likely to have lower disclosure indices. Intellectual capital disclosure (ICD) is not influenced by profitability of firms.

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The aim of the paper is to examine the current status of intellectual capital (IC) disclosure by firms in India in terms of extent and quality of information disclosed as well as to assess whether any gap exists between stakeholder expectations and actual disclosure practices being followed by industry. For achieving the objective, a mixed methods approach was applied which had qualitative and quantitative elements. The findings indicate that the disclosure level of IC in the annual reports of Indian firms is low and a gap exists between the actual practices and stakeholders expectations as regards disclosure. The category of external capital was the most reported category followed by internal capital and human capital.

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