LEVEL OF INTANGIBLE RESOURCES TRANSPARENCY OF BANK: PANAMA, BRAZIL AND SPAIN

Abstract

This paper analyzes the transparency level it has more than enough informations of the intangible resources, in the annual reports published in the WEB of the banks inscribed in the stock exchange in: Panama, Brazil and Spain, in the period 2006 at the 2011. Panama was analyzed from BVP; Brazil in the BM&F BOVESPA and Spain in two stock exchange Madrid and Barcelona. It was a significant difference of the level of publication of annual reports in the WEB among the banks from Panama in relation to Spain and a little more in Brazil. Panama it publishes 12.75%, Brazil 94.64% and Spain 77.27%. Regarding transparency of information about intangible resources, 158 indicators were created in 5 categories for a sample of 39 banks. Panama reveals 56.54%, Brazil 44.08% and Spain 60.66%.