“…We have considered the most active and largest companies that operate in the Spanish Stock Market, that is, the companies included in the IBEX35 Index, but omitting financial companies because these exhibit characteristics that make them very different from those of other sectors (Furlotti, Mazza, Tibiletti, & Triani, ; Rodríguez Fernández, Fernández Alonso, & Rodríguez Rodríguez, ; Gallego‐Álvarez, García‐Sánchez, & Rodríguez‐Domínguez, ; Jackling & Johl, ; Reverte, ). Therefore, the 28 nonfinancial companies which in August 2018 were included in the IBEX35 Index were analysed during the 15‐year period 2003–2017 regarding their GRI disclosure and during the 18‐year period 2010–2017 with regard to their inclusion in the DJS Index.…”