Early adopters of institutional creativity in integrated reporting

Ruchi Agarwal and Muhammad Atif

Review of Accounting and Finance, 2023, vol. 23, issue 2, 205-221

Abstract: Purpose - In the last two decades, risk reporting has followed a normative and calculative culture rather than the “materiality” of data. Although integrated reporting (IR) has become flooded with extra information, it does not adequately disseminate material information to stakeholders. In addition, the poor tone from the top diminishes creativity. This study aims to investigate how companies creatively address issues of the materiality of risk information in IR and how IR can be aligned with enterprise risk management. Design/methodology/approach - Qualitative research was conducted via interviews with 50 chief risk officers and senior management executives in the Indian and UK insurance markets. Findings - Overall, five institutions were observed to exhibit elements of being early adopters of institutional creativity. This confirmed the present study’s theoretical contribution of five divergent types of early adopters. The motivations for creativity are reflected in the resources available to these institutions. Originality/value - To the best of the authors’ knowledge, this study provides a new insight into IR from internal mechanisms to deal with issue of materiality.

Keywords: Risk; Integrated reporting; Integrated thinking; Institutional creativity; Early adopter; Enterprise risk management; Materiality; Insurance company; India; UK (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rafpps:raf-07-2023-0209

DOI: 10.1108/RAF-07-2023-0209

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