“…Furthermore, IR provides a communication of factors (capitals) influencing organizational value over time and the internal processes of value creation (business model), encouraging accountants and preparers to think in the longer term about their business, how they create value and for whom (Adams, 2015; Atkins & Maroun, 2015). Anyway, although in literature a wide range of benefits are attributed to IR, many of these claimed benefits are not supported by empirical evidence (de Graaff, Steens, & Camfferman, 2019). Table 2 compares the main appraisals and critiques regarding the IR framework.…”
Section: Appraisals and Critiques To The Integrated Reporting Frameworkmentioning
The integrated report (IR) is a new reporting tool connecting financial and nonfinancial information, in one report. The aim of IR is to present the firm's value creation over time. In recent years, IR has received both increasing academic and professional interest. Recent researches have focused on the potentialities (and criticalities) of IR and on its determinants, while there is a dearth of studies examining the value relevance of the information disclosed through IR for investors. Furthermore, in the literature, there are two competing views on IR usefulness for investors, one positing IR as beneficial, the other, detrimental to investors. Our study intends to contribute to the existing literature by systematically reviewing the empirical studies conducted until now in a thorough and unbiased manner, allowing more general conclusions to be drawn about the phenomenon than is possible from individual studies and to give some insights for further research activities.
“…Furthermore, IR provides a communication of factors (capitals) influencing organizational value over time and the internal processes of value creation (business model), encouraging accountants and preparers to think in the longer term about their business, how they create value and for whom (Adams, 2015; Atkins & Maroun, 2015). Anyway, although in literature a wide range of benefits are attributed to IR, many of these claimed benefits are not supported by empirical evidence (de Graaff, Steens, & Camfferman, 2019). Table 2 compares the main appraisals and critiques regarding the IR framework.…”
Section: Appraisals and Critiques To The Integrated Reporting Frameworkmentioning
The integrated report (IR) is a new reporting tool connecting financial and nonfinancial information, in one report. The aim of IR is to present the firm's value creation over time. In recent years, IR has received both increasing academic and professional interest. Recent researches have focused on the potentialities (and criticalities) of IR and on its determinants, while there is a dearth of studies examining the value relevance of the information disclosed through IR for investors. Furthermore, in the literature, there are two competing views on IR usefulness for investors, one positing IR as beneficial, the other, detrimental to investors. Our study intends to contribute to the existing literature by systematically reviewing the empirical studies conducted until now in a thorough and unbiased manner, allowing more general conclusions to be drawn about the phenomenon than is possible from individual studies and to give some insights for further research activities.
“…As declared by the DG in presenting the first AOU report: We are approaching the document with the aim to inform citizens with a 360‐degree picture of what we do. The other stakeholder that should be interested is the Region as the financing institution.It is immediately clear that the intention of the DG is to use this document to legitimize his work and therefore respond to a need for legitimacy theory (Albarrak et al, ; De Graaff et al, ; Guthrie & Parker, ; Hummel & Schlick, ; Menicucci & Paolucci, ; Suchman, ) and institutional theory (e.g., Baldini et al, ; Gallego‐Alvarez et al, ; Gao et al, ).…”
Section: Resultsmentioning
confidence: 99%
“…Within the current research stream, our purpose is to understand how a public health care organization (PHO) adapts integrated reporting (IR) concepts to its purposes, from the decision to adopt the IRF to the publication of the final integrated report, the reasons behind its implementation, and the stakeholders's opinions about it. We use legitimacy theory (Albarrak, Elnahass, & Salama, ; De Graaff, Steens, & Camfferman, ; Guthrie & Parker, ; Hummel & Schlick, ; Menicucci & Paolucci, ; Suchman, ) and institutional theory (Baldini, Dal Maso, Liberatore, Mazzi, & Terzani, ; Gallego‐Alvarez, Ortas, Vicente‐Villardón, & Álvarez Etxeberria, ; Gao, Gu, & Liu, ) to explain the reasons that drive the company to undertake the journey of IR and cocompare them with the thoughts of the recipients of the document. Do these thoughts on the purpose of the document coincide?…”
Despite the widespread calls for in-depth case studies on adoption of the International Integrated Reporting Council Framework, in practice, it appears to be underexplored, above all in the public sector. Our aim is to explore how and why a public health care organization (PHO) has chosen to adopt the practice of integrated reporting, and we then delve into whether the PHO's perception of the document's value coincides with that of the stakeholders, who are its recipients.Often, society's perception of value can differ considerably from an organization's.Thus, for our research purposes, a case study was examined, adopting a qualitative approach and action research methodology. Our findings demonstrate the centrality of the value created for patients and of the "normative" scenario that takes place during the implementation of an integrated report in a PHO. Moreover, the concept of legitimacy was found to be virtually synonymous with institutionalization.
K E Y W O R D Saction research, case study, institutional theory, integrated reporting, legitimacy theory, public health care organization
“…Given the short implementation period, it should be emphasized that empirical research into integrated reporting, particularly into BM disclosures in corporate reporting, is very rare [43,44]. It is difficult to clearly distinguish the sectors in which these studies dominate, but certain foundations and results can be taken from much broader environmental reporting, including CSR, which is strongly developed in energy, fuel, mining, high-technology and banking sector.…”
Section: Business Model Reporting In Selected Companiesmentioning
Traditional financial reporting primarily discloses information about assets, equity, liabilities and financial situation of an enterprise. Simultaneously, socio-economic changes are prompting enterprises to implement business reporting towards disclosing activities for sustainable development and information about the business model in non-financial reporting. Shaping of an enterprise’s business model is carried out in the spirit of sustainable development, which is beginning to dominate the strategies of many large enterprises. At the same time, the concept of the business model and its reporting have still not been characterized in detail or standardized, which limits transparency and the usefulness of information. These phenomena provided an incentive to undertake the research on the business model reporting. The overall goal of this study is to expand research on disclosures about the business model in the corporate reporting of Polish listed companies, as well as to indicate the degree and directions of development of this subject against the background of the accounting system. The study also addresses the epistemological goal by entering the discussion on reporting about the business model. The research uses the financial statement content analysis method and the statistical method (Spearman’s correlation). The scope of disclosures about the business model are examined in integrated reports, consolidated reports, management reports, non-financial data reports and CSR reports of Polish companies listed on the stock market. This information is examined according to its four main components: inputs, business activities, outputs and outcomes. The correlation between the number of audited disclosures and selected economic and similar parameters characterizing enterprises (total assets, performance, board, EBITda, equity and liabilities) is also studied. The research reveals that entities preparing an integrated report demonstrate a greater number of disclosures of business model components in selected economic categories than entities that do not prepare such a report. Thus, the companies preparing an integrated report follow the mainstream of stakeholder theory, opting for a more descriptive reporting approach, accessible to a wider group of users. Moreover, business model information is often reported in a highly random manner. Simultaneously, descriptive forms of business model disclosure prevail over numerical ones, although not to a large degree. The findings also confirm that there is a positive correlation between the detail of disclosures about the business model and selected economic parameters of an enterprise (the strongest with total assets, board and EBITda). Thus, it becomes possible to recognize that large enterprises with a strong and stable structure of assets follow specific, more detailed reporting patterns aimed at sustainable development of reporting. At the same time, they are more likely to expand the scope of disclosures compared to smaller enterprises. This investigation responds to the interest of enterprises and other stakeholders in the reporting spectrum by increasing market information efficiency and transparency. Findings can also be used by standards setters, while providing new rules and regulations.
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