Evolution of information content from an institutional perspective: El Alcázar brewery (1928–1993)

Abstract

This article examines the evolution of the information provided by El Alcázar, a private Spanish company, over the period 1928–1993. This information includes: Memoria, that is, qualitative information contained in the annual report, which is a Management Report to shareholders; the minutes of the Board of Directors; and the minutes of the Shareholder General Meeting. We apply a longitudinal thematic content analysis with the aim of understanding how the content of these documents adapts to the different institutional settings experienced by the company. Following Meyer (1986), different environments may determine the amount of accounting information a particular company produces beyond the variation determined by its intrinsic technical needs. The period studied bears witness to a number of relevant institutional conditions involving deep social, economic, cultural and political changes. The results show that these documents change between the stages identified in response to the pressures of different institutional environments.