Integrated Reporting and Value Relevance in the Energy Sector: The Case of European Listed Firms

Andreas Errikos Delegkos, Michalis Skordoulis (), Petros Kalantonis and Aggelia Xanthopoulou
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Andreas Errikos Delegkos: Department of Tourism Management, Egaleo Park Campus, University of West Attica, GR-12243 Egaleo, Greece
Michalis Skordoulis: Department of Tourism Management, Egaleo Park Campus, University of West Attica, GR-12243 Egaleo, Greece
Petros Kalantonis: Department of Tourism Management, Egaleo Park Campus, University of West Attica, GR-12243 Egaleo, Greece
Aggelia Xanthopoulou: Department of Tourism Management, Egaleo Park Campus, University of West Attica, GR-12243 Egaleo, Greece

Energies, 2022, vol. 15, issue 22, 1-13

Abstract: Integrated reporting (IR) contains a lot of important information for firms, such as income, cash flows, risks, uncertainties, intellectual capital, social capital and environmental capital. Based on the relevant literature it is found that the adoption of integrated reporting affects the firms’ value in the short, medium and long term and, at the same time affects its environmental, social and governance performances. The aim of this paper is to analyze the impact of integrated reporting in European energy firms’ value relevance. To do so, the panel data concerning 38 European energy distribution listed firms are analyzed, using statistical and econometrical methods including OLS, WLS, fixed effects and random effects models. The paper’s main novelty is that it concerns a sector that plays a key role in the economic development of countries and, at the same time only a few studies are carried out concerning the examined subject in this sector. The research results have revealed that integrated reporting, book value and earnings per share have a statistically significantly effect on energy firms’ market value. Thus, it is proposed that energy firms adopt IR.

Keywords: integrated reporting; value relevance; listed firms; accounting information; energy sector (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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