Sustainability Reporting and Value Relevance of Financial Statements

Sutopo, Bambang; Kot, Sebastian; Adiati, Arum Kusumaningdyah; Ardila, Lina Nur

doi:10.3390/su10030678

Cited by 40 publications

(52 citation statements)

References 31 publications

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“…Substantially, the former is based on the position of observations in ordered sequences of data and not on values, while the latter is based on the median, which is considered a "robust" summary measurement. Subsequently, the post-hoc test to verify which pairs of years are significantly different from each other was carried out using the Mann-Whitney test, based on ranks [23].…”

Section: Methodsmentioning

confidence: 99%

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Performance Sustainability and Integrated Reporting: Empirical Evidence from Mandatory and Voluntary Adoption Contexts

2018

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This paper looks at the topic of regulation of integrated reporting for listed companies, with the aim of contributing to the debate on the usefulness of introducing a mandatory regime, both from the perspective of integrated performance sustainability of companies and from that of relevance of information for providers of financial capital. The study is based on empirical research carried out on a sample composed of companies operating in territories where the adoption of integrated reporting is voluntary (Europe) and those operating in a country where adoption is mandatory (South Africa). The research shows that (a) in voluntary regimes, levels of integrated performance achieved by companies are higher; (b) mandatory regulation produces positive effects on integrated performance levels in the medium term; (c) integrated performance indicators are value-relevant, though having different levels of relevance under the two regimes examined.

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Section: Methodsmentioning

confidence: 99%

“…Integrated reporting is currently recognized as an important tool for achieving sustainability, so that in recent years in the broad sustainability debate, many articles have been directed to this research stream [21][22][23][24][25][26][27].…”

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confidence: 99%

Performance Sustainability and Integrated Reporting: Empirical Evidence from Mandatory and Voluntary Adoption Contexts

2018

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“…Among others, the Social Accounting Standards Board (SASB), the Global Reporting Initiative (GRI) [20], and the International Integrated Reporting Council (IIRC) have paved the way in developing social accounting standards and related disclosures for organizations. While originated in the west, sustainability reporting has also become popular among Asian countries such as Indonesia, where companies are interested in following the Sustainability Reporting Award (SRA) organized by the National Center for Sustainability Reporting (NCSR) [21].…”

Section: Literature Reviewmentioning

confidence: 99%

Lean, Green and Clean? Sustainability Reporting in the Logistics Sector

et al. 2019

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Transport and logistics activities contribute heavily to global sustainability problems, yet the implementation of corporate social responsibility and sustainability reporting in the sector lags behind. This paper aims to analyze sustainability reporting in the logistics sector, with focus on environmental, social and economic indicators. An extensive operationalization of sustainability indicators is used to examine and analyze the sustainability reports of 52 organizations in the logistics sector worldwide. Results show that the sector does not agree on the materiality of sustainability indicators. Furthermore, sustainability reporting seems to be incompatible with daily operations, leading to obscurity in reports. This contrast, between the necessary existence of organizations in the logistics sector and their undesirable environmental and social effects, calls for future research into how organizations are coping with this paradox. A viable way forward is needed in order to ensure materiality in the sectors’ efforts toward sustainability reporting.

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“…However, this study has future research potential to consider other emerging markets. Thus, the source of data has some limitations that should be kept all into mind while making such analysis (Sutopo, Kot, Adiati, & Lina Nur Ardila, 2018).…”

Section: Discussionmentioning

confidence: 99%

Institutional ownership and simultaneity of strategic financial decisions: an empirical analysis in the case of Pakistan Stock Exchange

Sadaf¹,

Oláh²,

Popp³

et al. 2018

E+M

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The traditional interpretation of corporate fi nance is characterized by ownership rights are widely distributed among individual stockholders, but can be managed by few managers and resulted in an agency problem. The primary objective of this research study is to investigate the relationship between institutional ownership and fi rms' strategic decisions. These strategic decisions include i.e. leverage, dividend and investment decisions. The examined data is used from 170 non-fi nancial Pakistani listed fi rms, characterized by a large percentage of institutional investors, with a multiple equity stake in different fi rms across a wide fi eld of industries. This study is also able to show two important novelties. Firstly, the fact that previous researchers have already concentrated on the impact of institutional ownership on individual strategic decisions, as dividend or leverage policies and several unanswered questions remain. Consequently, the impact of institutional ownership has explored collectively on various strategic decisions. Secondly, this study also recognizes the determination of strategic decisions by considering the endogeneity problem with a Three-Stage Least Square (3SLS) method. Essentially, the effects of institutional ownership on fi rms' leverage becomes more pronounced after including industry specifi c and time dummies in regression models. Based on the results, the case of increased institutional ownership of fi rms has a signifi cant negative effect on leverage, and a positive effect on dividend decisions. Hence, institutional investors are seemed to prefer low leveraged and high dividend-paying fi rms. Moreover, this study has not able to fi nd signifi cant two-way relations between institutional ownership and investment decisions, so institutional investors rather focus on corporate governance and internal control of fi rms. Indeed, institutional investors should develop the effi ciency of fi rms' management to support more adequate corporate governance policies, and not only for emerging markets.

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Sustainability Reporting and Value Relevance of Financial Statements

Cited by 40 publications

References 31 publications

Performance Sustainability and Integrated Reporting: Empirical Evidence from Mandatory and Voluntary Adoption Contexts

Performance Sustainability and Integrated Reporting: Empirical Evidence from Mandatory and Voluntary Adoption Contexts

Lean, Green and Clean? Sustainability Reporting in the Logistics Sector

Institutional ownership and simultaneity of strategic financial decisions: an empirical analysis in the case of Pakistan Stock Exchange

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