Integrated Reporting Narratives: The Case of an Industry Leader

Abstract

In this paper, we investigate the integrated reporting practice of the second-largest Polish petroleum company. Using the qualitative research method of narrative analysis, the paper draws upon the practice of integrated reporting by the domestic and sector leader, the second-largest Polish petroleum company, LOTOS Group. By analyzing the content of integrated reports for the years 2006–2015, alongside the main actors and themes involved, we distinguish three main narrative strategies, including: legitimacy, shareholder-agency, and signaling. In addition, we reveal the evolutionary transition of integrated reporting and identify its phase of development. Reporting appears to be conjoined rather than integrated. The study’s results imply that the implementation of integrated reporting may be limited by its insufficient institutionalization in the organizational context and the lack of recognized standards.

Integrated Reporting Disclosures and Firm Value of Listed Insurance Companies in Nigeria

“…Ara and Harani (2020) averred that integrating reporting is a method grounded on social world stories that satisfies the proactive actions of various stakeholders. Aluchna et al (2019) argues that integrated reporting is the reflection of the processes of an entity that explains the meaning to actions, events and objects that provides guidance to bring reality. Camilleri (2018) maintained that integrated reporting begins with financial disclosure that covers non-financials with highlights to ESG.…”

“…Therefore, an integrated report must be prepared to provide details, which can comprehensively meet the information needs of the diverse stakeholders (Adeboyegun et al, 2020). Camilleri, (2018); de Villiers, et al (2017); Dumay, et al (2018) as well as Aluchna, et al, (2019) explained that integrated reporting explains how important stakeholders can drive management behaviour towards society and environment rather than profit motives only.…”

“…This theory explains that there is a social contract between a company and the society. The theory of legitimacy primarily maintains ethical behaviour of firms, to function in a certain economy (Aluchna, et al 2019). Hence corporations should stick to this contract otherwise they may damage their own legitimacy and relevance to society.…”

“…Therefore, corporations should use the information in an integrated report to disclose the financial and non-financial information so as to maintain their legitimacy to the society. Aluchna, et al (2019) stated that integrated reporting is anchored around legitimacy theory that explains the connectivity, balance and reputational risk to fulfil stakeholders' expectations.…”

“…Fernando, et al (2017) further averred that the credibility of integrated will send the signal to various stakeholders about the corporation in order to meet their information expectancy. Aluchna, et al, (2019) argue that signaling theory attempts to explain the corporation's action that may not certainly be rooted in its own culture.…”