Gender diversity and the readability of explanatory notes: evidence from ISE B3 companies and ANEFAC award winners
DOI:
https://doi.org/10.21680/2176-9036.2026v18n2ID41422Keywords:
Legibilidade, Diversidade, Contadores, Auditores, Membros do Conselho de AdministraçãoAbstract
Purpose: This study investigates whether gender diversity among responsible accountants, independent auditors, and board members influences the readability of the explanatory notes of Standardized Financial Statements (DFPs). It also examines the relationship between this influence and economic‑financial indicators, focusing on companies that are part of the ISE B3 and winners of the ANEFAC Transparency Award.
Methodology: The research utilized 366 observations from 76 companies covering the period 2018 to 2022. Readability was measured using the Flesch Index applied exclusively to the explanatory notes of DFPs converted to text. Gender diversity was calculated separately for accountants, auditors, and board members. Financial control variables—net income, total assets, ROA—and governance level were included in multiple linear regression models. Data were obtained from DFPs, Reference Forms, and Economática® databases.
Results: The average Flesch Index was 76.87, indicating that the explanatory notes are generally easy to read. Average gender diversity was 16.88%, with wide variation across firms and professional groups. Regression results showed that net income and ROA significantly explain part of the variability in readability (p < 0.05). In contrast, gender diversity among accountants, auditors, and board members, as well as governance level, did not show a significant effect on the readability of explanatory notes during the analyzed period.
Contributions of the Study: This study expands understanding of factors influencing the informational clarity of DFPs by focusing specifically on explanatory notes and on distinct professional groups involved in the reporting process. The findings indicate that financial performance plays a more decisive role in readability than gender composition, contributing to discussions on transparency and accounting communication and suggesting avenues for future research on diversity and information quality.
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