Appreciations, criticisms, determinants, and effects of integrated reporting: A systematic literature review

Vitolla, Filippo; Raimo, Nicola; Rubino, Michele

doi:10.1002/csr.1734

Cited by 176 publications

(165 citation statements)

References 59 publications

(84 reference statements)

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“…Most of the studies focus on the internal determinants (firm‐specific characteristics) of integrated reporting (Vitolla, Raimo, & Rubino, ). Regarding governance characteristics, Frías‐Aceituno et al (b) underline how larger boards with relatively experienced directors and those with diverse backgrounds favour integrating various reports.…”

Section: Prior Researchmentioning

confidence: 92%

The impact of national culture on integrated reporting quality. A stakeholder theory approach

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Integrated reporting (IR) is a new corporate‐reporting system that aims to represent the firm's value creation in the short, medium, and long term. In contrast to other disclosure systems focusing on non‐financial dimensions, including social and environmental aspects, IR is characterized by information connectivity. In recent years, integrated reporting has received increasing interest, both academic and professional. However, report quality is still a critical aspect of IR. Although several studies investigate IR, few focus on quality and its determinants. This study aims to fill this gap by investigating the impact of national culture, an external determinant, from a stakeholder theory perspective. The results show that IR quality is related to five dimensions of Hofstede—power distance, individualism, masculinity, and indulgence negatively and uncertainty avoidance positively. This study contributes to the relevant literature by analysing an additional factor that influences the quality of corporate reports, namely, national culture. This is the first study that investigates national culture as a determinant of integrated‐reporting quality.

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Section: Prior Researchmentioning

confidence: 92%

The impact of national culture on integrated reporting quality. A stakeholder theory approach

et al. 2019

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“…Despite IR being a relatively new concept, several areas of this topic have already been explored (Vitolla, Raimo, & Rubino, ). Scholars focused mainly on the determinants (Frías‐Aceituno, Rodríguez‐Ariza, & Garcia‐Sánchez, ; García‐Sánchez, Rodríguez‐Ariza, & Frías‐Aceituno, ; Jensen & Berg, ) and the effects of IR (Barth, Cahan, Chen, & Venter, ; Cosma, Soana, & Venturelli, ; Esch, Schnellbächer, & Wald, ; Lee & Yeo, ; Martinez, ; Pavlopoulos, Magnis, & Iatridis, ; Vitolla & Raimo, ).…”

Section: Literature Reviewmentioning

confidence: 99%

How pressure from stakeholders affects integrated reporting quality

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Integrated reporting (IR) is considered an innovative and effective reporting tool that includes financial and nonfinancial information. Recently, there has been a heightened emphasis on IR from both academic and professional viewpoints. However, despite the importance of stakeholders in the practice of IR, their impact on the report drafting process has not been analysed in any study. Therefore, this study aims to fill this gap by analysing the relationship between stakeholders' pressure and IR quality.On the basis of the stakeholder theory, this study uses a regression model to demonstrate how the IR quality is significantly and positively associated with the stakeholders' pressures. Specifically, results of this study indicate that pressures from customers, environmental protection organizations, employees, shareholders, and governments determine the IR quality. To the best of our knowledge, this is the first study that investigates stakeholders' pressure as a determinant of IR quality. KEYWORDS disclosure, IIRC, integrated reporting, stakeholder pressure, stakeholder theory | INTRODUCTIONAn increase in the relevance of nonfinancial disclosure, in general, and integrated reporting (IR), in particular, relates to two closely interlinked aspects: the marked criticality of stakeholder relationships in ensuring the medium-and long-term success of a company and the growing importance of voluntary disclosure models. Concerning the first aspect, the environment in which companies operate has been radically changed by several factors such as globalization, citizens' sensitivity to ecological issues, attention to human rights, financial scandals, and national and international regulation of social and environmental issues. These changes in the scenario in which companies operate have driven the need to think about new business models and to redefine processes, tools, and management models that will help companies to achieve not only financial goals but also social and environmental goals. The financial balance and the ability to obtain competitive advantages and to create value in the short, medium, and long terms are, consequently, closely connected with the quality of managing relationships with different stakeholders groups that bring the necessary skills and resources for conducting business activities. This context leads to the second aspect in which the analysis of nonfinancial disclosure becomes particularly relevant -the strategic criticality of voluntary disclosure. The management of communication activities has a significant impact on stakeholder relationships, and it is critical for the medium-and long-term success in terms of the extension of the company's stakeholders and their contributions. In relation to the two aspects outlined above, this study aims to analyse the impact of the stakeholders' pressure on IR quality. IR, developed by the International Integrated Reporting Council (IIRC), is a corporate reporting tool that resulted from the evolution of environmental, social, and sustainability reports. ...

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“…Recently, there has been more focus on IR from both academic (Vitolla, Raimo, & Rubino, 2019b) and professional perspectives. A KPMG (2017) survey highlights the constant growth and evolution of the practice of IR since the early stages of the IR model's adoption.…”

Section: Introductionmentioning

confidence: 99%

The impact on the cost of equity capital in the effects of integrated reporting quality

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Integrated reporting is a new reporting tool that includes financial and nonfinancial information, which represents a natural evolution of the corporate reporting movement. Although this practice has gained increasing attention in recent years, both from an academic and professional perspective, the quality of the reports still represents a critical aspect due to inadequate investigation. Only a few studies have focused on integrated reporting quality, and contributions on the effects of quality have been even rarer. This study aims to investigate on the impact of integrated reporting quality on the firm's cost of equity capital, owing to the paramount importance of this parameter for firms and investors. Our results highlight that integrated reporting quality has a significantly negative association with the cost of equity capital, suggesting that integrated reporting quality represents an innovative way to reduce the cost of equity. To our knowledge, this is the first study that examines the relationship between integrated reporting quality and a firm's cost of equity.

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Appreciations, criticisms, determinants, and effects of integrated reporting: A systematic literature review

Cited by 176 publications

References 59 publications

The impact of national culture on integrated reporting quality. A stakeholder theory approach

The impact of national culture on integrated reporting quality. A stakeholder theory approach

How pressure from stakeholders affects integrated reporting quality

The impact on the cost of equity capital in the effects of integrated reporting quality

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