Disclosure Standards Research Articles

Transparency, disclosure and autonomy: Moral judgment and attitudes toward branded content among media workers

This study extends the media sociology literature on moral judgment by comparing moral orientations among journalists and non-journalistic media professionals as well as attitudinal differences regarding branded content and related perceptions of transparency, disclosure standards, and perceived job autonomy. Based on a survey sample of the Online News Association membership ( n = 226), journalists placed greater emphasis on organizational disclosure standards than non-journalist counterparts, and branded-content producers had less favorable attitudes toward disclosure. Also, perceived disclosure standards of their organizations negatively predicted individuals’ disclosure attitude. Regression modeling showed morally related variables accounted for a small but notable variance in disclosure-related attitudes.

Identifying Financially Material Content in Corporate Social Responsibility Reports

ABSTRACTThis study examines the relationship between financially material content in corporate social responsibility (CSR) reports and the decision usefulness of these reports. Utilizing sustainability disclosure standards and a machine learning topic modeling algorithm, a firm‐specific quantitative measure of financially material content in CSR reports is developed. It is hypothesized that firms providing greater amounts of financially material CSR content enhance their information environment, which enables analysts to make more accurate earnings predictions. The findings confirm a positive relationship between the extent of financially material CSR content disclosed and analyst forecast accuracy. This research demonstrates the effectiveness of using machine learning to identify financially material content within unstructured voluntary disclosures and contributes to the literature on the financial materiality of CSR activities and their related disclosures.

A Comparative Study on ESG Information Disclosure by Multinational Corporations and Analysis of Influencing Factors

Abstract: As globalization and the concept of sustainable development continue to deepen, environmental, social, and governance (ESG) issues are increasingly becoming the focus of global attention. Multinational corporations, as key players in the global economy, have significant roles in promoting sustainable development and enhancing corporate transparency through ESG information disclosure. By collecting and analyzing ESG reports from multiple multinational corporations, this study finds that there are significant differences in ESG information disclosure among these corporations, and many factors have substantial impacts on such disclosures. Consequently, domestic and international institutions and organizations need to further strengthen cooperation and exchange to establish information disclosure standards that align with practical development needs, thereby constructing an ESG information disclosure framework that meets social development requirements.

소비자 안전보건을 위한 ESG 공시기준에의 제품안전 지표설정 연구

ESG management has now become a new management paradigm both domestically and internationally. ESG is a non-financial performance indicator to achieve corporate sustainability, and encompasses responsibilities and obligations to stakeholders. Recently, as the safety issue of overseas products imported from online shopping malls in China has emerged, the need to ensure consumer safety and health from hazardous products is increasing. Accordingly, the establishment of product safety disclosure standards for consumer protection is required in the ESG information disclosure process. In this paper, in order to establish product safety indicators for sustainability disclosure standards for ESG management, the disclosure standards of major domestic and foreign initiatives were reviewed and analyzed to examine the introduction of product safety-related indicators, and product safety indicators that can be set for consumer safety and health were developed and presented. As product safety indicators, this paper first presented the occurrence of illegal and defective products, occurrence of product accidents, block hazardous products, number of recall orders and recommendations, and recall recovery rate as indicators that can be introduced throughout the entire product life cycle. In addition, the product risk level, the number and ratio of products for which risk assessment was performed, and the methods and standards used for risk assessment were presented as indicators related to product risk that indicate the level of impact of the product on consumer safety and health. In addition, the consumer safety index was presented as an indicator related to product safety accidents that occur during the consumer product use phase. The consumer safety index is an index that allows consumers to directly feel the level of product safety due to product accidents that occur when consumers use the product. It can be said to be a product safety index from the consumer's perspective that can protect consumer safety.

Toward a novel Sustainability Transparency Index for improved governance in agri-food value chains: A comparative study of Finnish and Ukrainian companies

The paper addresses ESG-based disclosure and transparency measurement in the context of a comparative analysis of Finnish and Ukrainian agri-food businesses based on the Sustainability Transparency Index (STI) and Sustainable Development Goals (SDG). Based on the normalization method, SDG-related text mining, and qualitative text analytics, the sustainability information of the largest agri-food companies was traced. Among GRI, ISSB, and ESRS disclosure standards, only GRI 13 has clearly established SDG alignment with most material stakeholders’ requests. The results of the study give a snapshot of sustainability transparency in the agri-food business in 2023, where the indices of Finnish companies are higher than those of Ukrainian ones, with clear SDG 12, waste and water management priority compared to SDG 2 and sustainable agriculture in Ukraine. Regulatory recommendations based on a comparative analysis of sustainability disclosure in both countries include better alignment with EU (Finnish) benchmarks, reporting and assurance practices for Ukrainian companies, and the incorporation of recent EU sustainability disclosure approaches for Finnish companies. Acknowledgment Inna Makarenko gratefully acknowledges the support of the Academy of Finland (Decision 353888).  

ESG Practice of Domestic Listed Companies

This article conducts in-depth research on the uniformity of the ESG (Environmental, Social, and Governance) information disclosure framework. The article points out that in order to ensure horizontal comparability of ESG information, a standardized disclosure framework similar to financial information must be implemented. The article emphasizes the importance of establishing a unified disclosure framework by analyzing the current situation of ESG information disclosure both domestically and internationally, especially the relevant laws, regulations, and guidelines in Europe and America. At the same time, the article also points out the problems in the ESG development of listed companies in China, including incomplete regulations, inconsistent disclosure frameworks, and insufficient information comparability. Based on these analyses, this article proposes suggestions for constructing a unified ESG disclosure framework in China to promote effective comparison and evaluation of ESG information among enterprises.

Sustainability Reporting Ecosystem and IFRS S1 and S2: How Accounting Research can assist its Implementation

This paper describes how the accounting research agenda is affected by the issuance and implementation of the International Financial Reporting Sustainability Disclosure Standards (IFRS S1 and IFRS S2). The new IFRS S1 and S2 were launched on June 26, 2023, and are effective from January 1, 2024. The implementation of IFRS S1 and S2 will be particularly interesting as this is the first time that financial and sustainability reporting will be integrated into a company's corporate reporting. Given the relatively short timeframe since its introduction, there may be limitations in assessing the full impact or implications of these standards. Hence, this study analyzes various research opportunities related to the implementation of IFRS S1 and S2. Due to the limited literature that discusses the implementation of IFRS S1 and S2, this study applies the review method, i.e., it conducts a review based on existing research on IFRS S1 and S2, as well as research examining existing sustainability accounting and reporting aspects. This study analyzes research opportunities in the areas of (1) financial accounting, (2) management accounting, (3) auditing, and (4) accounting information systems. This study contributes to the research area of the sustainability reporting ecosystem to facilitate the smooth implementation of IFRS S1 and S2 in practice.

Compatibility between the Auditor and the Institutional Investor and its Impact in Evaluating Requirements with International Accounting Disclosure Standards

The study examined the requirements of accounting disclosure standards from the perspectives of institutional investors and external auditors, highlighting the distinctions between their respective perspectives. due to the importance of the data generated in the financial statements that the institutional investor needs to make investment decisions, and the difference in viewpoints regarding the amount of data disclosure between the two parties. It focusses on outlining what needs to be reported in joint-stock firms' financial statements in a way that promotes objectivity in the financial statements and is transparent, appropriate, and adequate. The study had three main components: the literature and theoretical foundations of accounting disclosure and external auditors comprised the second axis, and the overall methodological framework of the study addressed the first.The idea of disclosure and transparency in the financial statement presentation was covered in the first topic, and the auditor's role and responsibilities in disclosure and transparency in financial reports were covered in the second. As for the third axis, it focused on the practical framework of the research, where an analysis of the sample members’ responses to questionnaire forms distributed to (100) external auditors and (100) institutional investors was presented. The questionnaire questions included three axes, the second axis, which dealt with the income statement's duties under accounting disclosure rules, and the first. It is focused on the balance sheet requirements of accounting disclosure rules. The requirements for accounting disclosure rules for contingent liabilities and events that occur after the budget were covered under the third axis. The research came to several findings after analysing the data for the questions using the SPSS statistical tool. The most important of which were :- The external auditor and the institutional investor have largely agreed upon the requirements of accounting disclosure standards for the income statement. The auditor is particularly interested in the paragraphs that discuss granting credit facilities and avoiding reliance on secondary sources of income, while the investor is more interested in the paragraphs that discuss income and expenses associated with the.fundamental income-generating activities When assessing the accounting disclosure requirements for the balance sheet, the institutional investor and the external auditor have a lot in common. The sections of the financial statements that highlight the uses of money and the requirement to disclose them to users, such as the institutional investor who was concentrating on these lines, are of particular importance to the auditor.due to the fact that they bear in It is fraught with dangers. The external auditor and the institutional investor have essentially reached consensus over their respective points of view when evaluating the accounting disclosure requirements for contingent liabilities and subsequent events . While the investor is primarily focused on the accounting disclosure, the auditor is especially interested in the criteria that revolve around the paragraphs referring to the total value of the provision for losses on loans and advances provided .requirements that place an abnormally high priority on risk In order to set disclosure standards and determine the quantity and quality of data that should be displayed in financial reports while maintaining the transparency necessary to achieve objectivity, the research advises considering the perspectives of the entities that stand to gain from the data generated in those reports as well as the regulatory authorities represented by the external auditor. These guidelines must be updated periodically since investor behaviour changes in response to political, social, and economic factors.

Mapping sustainable investing: Exploring ambiguities and consistencies among sustainable indices

Sustainable investing is perceived as a confusing black-box by many researchers, practitioners, and investors. Terminology, metrics, approaches, disclosure standards are quickly evolving, while the empirical evidence provides a growing number of mixed results. In this paper, we examine the composition, performance, and the risk-return profile of reference sustainable indices for the asset management industry, distinguishing between ethical and socially-responsible, faith-based, ESG and climate ones. Our findings reveal consistent investment trends across various sustainable indices, impacting their overall performance. Specifically, our analysis highlights a prevalent inclination towards large and growth-oriented companies, as well as a persistent focus on technology, financials, and commodity sectors. These results provide valuable insights for investors, asset managers, and index providers regarding the potential misalignment between an investment vehicle's labeling and its actual composition, and the implications this discrepancy might have on investors' expectations.

The Power of Standards: Sustainability Disclosure Standards Adoption and MNC Foreign Investment

The Power of Standards: Sustainability Disclosure Standards Adoption and MNC Foreign Investment

Global Sustainability Disclosure Standards and MNE’s Strategic Response

Global Sustainability Disclosure Standards and MNE’s Strategic Response

Tax disclosure strategies and reputational risks: An exploration based on the standard GRI 207

The Global Reporting Initiative (hereafter the GRI), a pioneer organization focusing on sustainability reporting standards, introduced a new standard dedicated to tax reporting in 2019 (GRI 207: Tax), supporting tax disclosure as a material CSR issue.Accordingly, we examine tax disclosure as framed by GRI 207. The literature on CSR reporting shows that companies increase CSR disclosures to mitigate negative attention to CSR issues. Based on this literature, we hypothesize that tax disclosure, framed by GRI 207, is positively associated with firms’ reputational risks (RRs). Our sample is composed of the 120 largest listed companies on the French financial market that are the most exposed to scrutiny. The data are collected for the year 2019.We use linear regressions to identify the determinants of tax disclosure strategies. As expected, greater RRs are associated with higher tax disclosure. According to the GRI 207 items on disclosure, three strategies are identified with reference to the CSR pyramid by Carroll (1991). We find that reputational risks, as measured as the presence of tax havens and financial controversies, are associated with distinct tax disclosure strategies. The issuance of a disclosure standard is not a guaranty of greater transparency.To our knowledge, our study is the first to examine tax disclosure strategies framed by the most recent standard of GRI 207 as part of CSR reporting. We provide several implications and directions for future research.

Evolution and Challenges of Environmental, Social, and Governance Practices: An Analysis of the Brazilian Stock Exchange’s Corporate Sustainability Index

Environmental, social, and governance (ESG) practices are increasingly recognized as critical for corporate sustainability and market competitiveness, driven by heightened expectations from investors, governments, and consumers. This study examines the evolution of ESG practices among companies listed on the Brazilian Stock Exchange’s Corporate Sustainability Index (ISE B3) from 2005 to 2022. We analyzed the index portfolio’s composition, focusing on changes in ESG dimensions over time. The only six long-lived companies in this index, from retail, banking, and energy sectors, were selected for in-depth analysis. We further evaluated the quality and consistency of ESG disclosures in company reports. Findings indicate relevant fluctuations in the number of companies included in the ISE B3 and variations in ESG scores for the companies. These variations may be attributed to the voluntary nature of ESG practices and the absence of standard disclosure. This study reveals a lack of homogeneity in ESG reporting, which could be addressed by establishing more straightforward guidelines and global standards. This research underscores Brazilian companies’ challenges navigating diverse ESG frameworks to align with evolving societal and environmental expectations.

Assessment of Physical and Chemical Quality Standards for Water and Sanitation Disclosure Towards SDG 6: A Study in Wijimulyo, Nanggulan, Kulon Progo Regency

Assessment of Physical and Chemical Quality Standards for Water and Sanitation Disclosure Towards SDG 6: A Study in Wijimulyo, Nanggulan, Kulon Progo Regency

Wrapping: an artistic device used in the integration of corporate reporting

PurposeThis study explores the integration of corporate reporting by Mitsubishi, a large Japanese company, using a culturally sensitive narrative that combines and reconciles Japanese and Western corporate values in one story.Design/methodology/approachWe use an analytical framework drawing on insights borrowed from narratology and the notion of wrapping – the traditional art of packaging as communication.FindingsWe find that Mitsubishi is a survivor company that uses different corporate reporting frameworks during its reporting journey to construct a bespoke narrative of its value creation and cultural values. It emplots narratives to convey a story presenting the impression that Mitsubishi is a Japanese corporation but is compatible with Western neo-liberal ideology, making bad news palatable to its stakeholders and instilling confidence in the future.Research limitations/implicationsWrapping is a culturally sensitive form of impression management used in the integration of corporate reporting. Therefore, rather than assuming that companies blatantly manipulate their image in corporate reports, we suggest that future research should focus on how narratives are constructed and made sense of, situating them in the context of local culture and traditions.Practical implicationsThe findings should interest scholars, report preparers, policymakers, and the IFRS, considering the recent release of the IFRS Sustainability Disclosure Standards designed to reduce the so-called alphabet soup of corporate reporting. By following Mitsubishi’s journey, we learn how and why the notion of integrated reporting was adopted and integrated with other reporting frameworks to create narratives that together convey a story of a global corporation compliant with Western neoliberal ideology. It highlights how Mitsubishi used integrated reporting to tell its story rather than as a rigid reporting framework, and the same fate may apply to the new IFRS Sustainability Reporting Standards that now include integrated reporting.Originality/valueThe study offers a new perspective on corporate reporting, showing how the local societal discourses of cultural heritage and modernity can shape the journey of the integration of corporate reporting over time.

“There has to be more caring”: patient and care partner experiences of the disclosure of amyloid-β PET scan results

Objectives To explore patient and care partner experiences of receiving an amyloid scan result, with a focus on how clinician disclosure practices influenced patient and care partner emotional responses to the scan result and/or diagnosis. Methods Semi-structured interviews with 38 people with mild cognitive impairment or dementia and 62 care partners who experienced the disclosure of results from an amyloid PET scan as part of the CARE-IDEAS study. We used thematic analysis to analyze interview transcripts. Results We identified four aspects of the disclosure process that could influence patient and care partner emotional experiences of the scan result/diagnosis: (1) mode of delivery, (2) presence of a care partner, (3) clarity of the scan result explanation, and (4) discussion of post-scan treatment and support options. Conclusions Emotional experiences of an amyloid scan result can vary depending on how results are communicated. These findings support previous efforts to develop standard disclosure protocols. Scan results should be delivered in person with the care partner present. Clinicians should give a clear explanation of the result and its implications in an empathetic manner. Options for treatment and support should be discussed for all patients.

SECURITIES CROWDFUNDING: KAJIAN REGULASI PASAR MODAL DI INDONESIA

The concept of crowdfunding based on securities offerings allows micro, small and medium enterprises to obtain funds and capital through securities crowdfunding. However, investors in this case have a great risk of loss because issuers who issue securities through securities crowdfunding are not companies like issuers in the Stock Exchange. This causes many of them to be very new, so they may not have good management. This research aims to see how the law can protect securities crowdfunding investors. This research uses a juridical-normative approach to see the legal protection of securities crowdfunding investors in Law No. 4 of 2023 concerning Strengthening and Development of the Financial Sector and the Financial Services Authority Regulation (POJK). The results of this study indicate that Law No. 4 of 2023 concerning Development and Strengthening of the Financial Sector and Financial Services Authority Regulation (POJK) No. 16/POJK.04/2021 have provided legal protection to securities crowdfunding investors, namely preventive protection and repressive protection. However, regarding the protection of the parties, it is still hampered by several factors, such as investor ignorance, unpreparedness of human resources, and slow handling of complaints by the organizers. In addition, the prospectus issued by the issuer often cannot be confirmed for accuracy, due to differences in information disclosure standards such as securities offerings on the Stock Exchange and the absence of involvement of professional institutions.

Enhancing prostate cancer diagnosis communication: A multicenter study evaluating the impact of animated videos, CartDiag Prostate study.

TPS12148 Background: Prostate cancer is the leading cancer among men. Advances in therapeutic techniques, personalized medicine, and the integration of targeted therapies have significantly improved patient outcomes, resulting in a 5-year overall survival of 93%. However, effective patient care requires a shared decision-making framework and clear communication between healthcare professionals and patients. The initial step in patient care involves disclosing the cancer diagnosis during a dedicated consultation, laying the foundation for the patient-physician trust relationship. Nowadays, less than 50% of patients declared that they understood the information provided during the announcement consultation. The main objective of our study is to assess the effect of the announcement system, reinforced by animated videos, on patients' overall understanding of their diagnosis and treatment. Methods: To enhance the disclosure process, animated videos were developed to outline the patient care journey. This multicenter, controlled before-and-after study aimed to evaluate the impact of the usual disclosure process enhanced by animated videos on patients' understanding of advanced or metastatic prostate cancer. Patients were sequentially assigned to two arms: the standard arm (first 45 patients) received usual written and oral information, while the intervention arm (next 45 patients) received written and oral information supplemented by animated videos. To evaluate the effect of the enhanced disclosure process on patients' overall understanding of their diagnosis and treatment using the EORTC QLQ-INFO25 questionnaire at baseline (Day 0) and after 1 month (Day 30), compared to the standard group without enhanced disclosure. This prospective study is the first to assess the impact of supplementing the standard disclosure process with animated videos positively impacts patients' comprehension of advanced or metastatic prostate cancer. The findings will support the potential value of integrating visual aids into the diagnostic disclosure consultation to enhance patient understanding and promote informed decision-making. Clinical trial information: NCT06117696 .

Do institutional environment and corporate governance structures determine Islamic Banks’ sustainability performance? Evidence across key jurisdictions in Islamic finance industry

This study examines the impact of the institutional environment and corporate governance structures on Islamic banks' sustainability performance (SP). It applies a two-step System Generalized Method of Moments (GMM) estimator to analyze data gathered on a panel of 32 Islamic banks drawn from nine key Islamic finance jurisdictions from 2016 to 2021. To consistently code and quantify the Islamic banks' SP, we use the Specific Standard Disclosures for the Financial Services Sector introduced by the GRI as a framework of reference. Then, we employ the weighted content analysis method on the sustainability and annual reports of the subjected sample. Our findings indicate that the institutional factors specifically, regulatory guidelines (regulatory isomorphism) and the adherence of Islamic banks to the sustainable finance networks' specifications (normative isomorphism) are not currently determinants of their SP. Contrarily, we observe that the establishment of a sustainability committee and a better experience of sustainability disclosure improve Islamic banks' SP. In contrast to agency theory, board activity is identified to have a significantly negative relationship with SP. An important policy implication of our results is that policymakers should closely monitor Islamic banks' regulatory dependency and enhance their SF ecosystem to positively influence their SP. Finally, future research may leverage on more conducive regulatory frameworks to sustainability transition in these key jurisdictions, more effective normative structures, further disclosure of sustainability committee characteristics, the development of appropriate measures of Islamic banks' digitalization levels, and the availability of more material sustainability data to provide further insights and better understand the determinants of Islamic banks’ SP.

ESG disclosure standards: international and chinese case studies

This study is dedicated to revealing the implications of international ESG (Environmental, Social, Governance) disclosure standards and practices for China. The research task is to systematically sort out and analyze the current mainstream international ESG standards and their latest developments. At the same time, combined with China’s ESG disclosure policies and practices, it provides helpful references for formulating ESG disclosure standards and frameworks with Chinese characteristics. This paper is based on processing secondary data obtained through qualitative analysis of relevant literature and official government documents (plans, strategies, reports, and programs). The paper suggests that the current Chinese government needs to (1) formulate an ESG disclosure standard system with Chinese characteristics; (2) guide ESG market entities to jointly participate in the formulation and development of the ESG standard system; (3) create a mandatory ESG disclosure system.