A multi-theoretical approach on drivers of integrated reporting – uniting firm-level and country-level associations

Stephan Fuhrmann

Meditari Accountancy Research, 2019, vol. 28, issue 1, 168-205

Abstract: Purpose - This paper aims to unite firm- and country-level drivers of the disclosure of integrated reports. It creates a synopsis of voluntary disclosure, signaling, proprietary cost, legitimacy, stakeholder and institutional theory. Design/methodology/approach - The empirical analyses build on a logistic regression model examining the disclosure decisions for integrated reports published between 2012 and 2016 by the 2,000 largest listed companies worldwide. Findings - The results indicate that the disclosure of integrated reports by large listed companies is explained in parallel by multiple theories, operationalized by the firm-level characteristics of lower profitability, a higher market-to-book value, lower leverage, lower level of industry concentration and higher social performance. Additionally, the country-level characteristics of civil law setting and lower investor protection, lower power distance and lower masculinity coincide with the disclosure of integrated reports. Originality/value - The inferences emphasize that a single theoretical framework cannot explain the decision to disclose an integrated report. Rather, a set of economic firm characteristics may lead to different disclosure decisions in different socio-economic and institutional environments.

Keywords: Economic-based theories; Forbes global 2000; Institutional theory; Integrated reporting; Signaling; Stakeholder theory; Voluntary disclosures (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:medarp:medar-12-2018-0412

DOI: 10.1108/MEDAR-12-2018-0412

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