Integrated Reporting Framework Research Articles

Integrated reporting adoption in SMEs: incentives and disincentives

Purpose This study aims to investigate the drivers and challenges of integrated reporting (IR) adoption in the Hungarian SME context. Design/methodology/approach The study uses qualitative methods to conduct an in-depth analysis of small and medium enterprises’ (SMEs) drivers and challenges of IR adoption through semi-structured interviews. Further, the results of the interview are supported by content analysis. Findings The research highlighted the drivers for IR adoption, including growing the company’s customer base, attracting new investors, boosting competitiveness and increasing the company’s market value by improving the long-, medium- and short-term value creation. Nonetheless, the organizational transformation required to implement IR, a lack of qualified human resources, weak administrative control and poor documentation all serve as impediments to Hungarian SMEs implementing IR. Consequently, the current IR framework needs further clarification and simplification to be practical for SMEs. Integrated thinking, value creation, materiality and stakeholder engagement are the concepts that have been identified as being unclear or inapplicable for SMEs. Practical implications Furthermore, the practical implications for standard-setters, regulators and companies may help in the future in mitigating barriers, pushing companies to learn more about the benefits and risks of adopting IR. Originality/value The study is one of the few that examines the drivers and challenges of IR adoption in SMEs and responds to several academic requests for IR research on the reasons why SMEs do not participate in IR adoption. Also, the study compiles and evaluates the previous literature’s drivers and challenges for IR adoption. Furthermore, the practical implications for standard-setters, regulators and companies may help in the future in mitigating barriers, pushing companies to learn more about the benefits and risks of adopting IR.

Nexus of circular economy R0 to R9 principles in integrated reporting: Insights from a multiple case study comparison

AbstractOver recent years, the Circular Economy (CE) has turned into a debated area worldwide as a way of achieving a more sustainable society. However, little is known about how companies can disclose CE‐related activities in their corporate reporting. This paper aims to explore how and to what extent CE‐related information is included in Integrated Reporting (IR) practices by promoting Sustainable Development Goals (SDGs). The study applies qualitative content analysis and thematic analysis approaches to explore the associations with CE, IR, the six capitals and SDGs. The institutional theory approach has been adopted to justify incorporating CE R‐principles activities into IR practices. Multiple case study findings demonstrate that every case company minimum one time cites the CE R principle, while case companies seen to be more involved in the reduce (R1), reuse (R2) and recycle (R7) are engaged with IR practices and focussing on SDGs. Whereas coercive, normative, and mimetic isomorphism mechanism substantially impacts CE activities concerning IR practices, we can argue that mimetic isomorphisms need further investigation because no structures and frameworks are available. In terms of managerial implications, this study proposed a combined framework of CE and IR that provides a conceptual picture of how CE activities intermesh with the IR framework and the six capitals, both essential for the Sustainable Development (SD) agenda participation and value creation process of companies.

New Connections Between Integrated Reporting and Intellectual Capital: Future Research Implications in the Context of Sustainability-Related Information

Purpose: The objective of this study was to identify new links between Integrated Reporting (IR) and Intellectual Capital (IC) fields, useful for sustainability and climate change disclosures with ISSB standards. Theoretical Framework: The literature that has integrated IC and IR fields has been developed, mainly from the IC research perspective, addressing a wide range of thematic specializations that emerge when analyzing the research areas. Design/Methodology/Approach: We developed a Structured Literature Review (SLR) of articles indexed in Scopus, which allowed us to build a specific analytical framework from emerging categories; we rely on AtlasTi and VOSviewer software. Findings: We found that the literature converges towards the following research areas: Reviews and reflections on the IR framework as a means for IC disclosure; Proposals to improve the IR framework and IR disclosures through IR; The IR framework and definition, measurement, and management of IC within organizations; disclosures of CI in contexts of practical adoption of RI; Disclosure of IC through IR, its determinants, and effects. Research, Practical & Social Implications: We identified the need to advance research under a performative approach, research on stakeholder satisfaction by revealing IC through IR and the relationship of IC with information related to sustainability in the new ISSB context. The paper identifies previously unexamined connections between IC and IR and proposes future avenues of research. Originality/Value: This study raises the need for increased policy research to define a common language for presenting comparable IC information in ISSB sustainability reports. In addition, studies are needed to help identify IC information, other IR capital and metrics, which could represent material information for investors to assess sustainability-related risks and opportunities.

Measuring the integrated reporting quality in Europe: balanced scorecard perspectives

Purpose The aim of this study is to evaluate the adoption and quality of integrated reports in the European Union (EU). Design/methodology/approach The sample consists of 147 listed firms from the 18 EU countries during 2013–2020. This study creates a disclosure index – based on the balanced scorecard (BSC) that reflects the information content of integrated reports. The content analysis method is used to measure the integrated reporting quality (IRQ). Findings The findings demonstrate that the IRQ increased across the study’s time frame, going from 49.3% in 2013 to 77% in 2020. Furthermore, financial disclosures still get the most attention in the integrated reporting (IR), followed by learning and growth perspective disclosures. In addition, businesses in the financial and industrial sectors rely more on integrated reports. However, the utility sector has the highest IRQ score. By country, Spain has the highest rate of IR adoption, followed by France. Other countries, such as Austria and Hungary, have only implemented IR by one company each. Research limitations/implications This study adds to the IR literature a new approach to measure IRQ by linking BSC with the IR framework. Empirically, businesses of any size can use this method to assess the degree of balance between the revealed financial and nonfinancial information in their reports. Practical implications Empirically, this study helps IR practitioners in determining how widely IR is used in Europe and in updating the database on the IR website. It helps them update and improve the IR framework by identifying the elements that have the least transparency and quality, investigating the causes and enhancing them. Originality/value To the best of the authors’ knowledge, this study is the first to examine the IRQ in EU countries by linking the BSC with IR elements. This is to split the elements into their own pillars, making it easier to track disclosure and evaluate the corporations’ interest in revealing these perspectives, on their own and collectively.

Feminist Economics and Feminist Accounting in Dialogue: The Contribution to World Inequalities and Ecological Emergencies

Researchers from different fields frequently draw attention to prejudice, discrimination, and contested meanings in their work by utilizing feminist theory. In this vein, the purpose of this work is to contribute to the debate on the interaction between feminist economics (FE) and feminist accounting (FA) in order to understand whether there are openings towards possible change. Although there have only been a few uses of feminist theory in accounting, academics are likely aware of it. Our study in this field aims to change these issues not only to bring them to light, drawing from wondering if the theory of the firm underpinning the IR (Integrated Reporting) framework responds to the criticisms labeled by FE and FA and helps lessen global inequality and ecological emergencies. The research question is: “Does the theory of the firm underpinning the IR framework respond to the criticisms labeled by FE and FA in dialogue while contributing to reducing world inequalities and ecological emergencies?” A multi-method investigation was carried out, using both deductive and inductive approaches. The research design encompasses both the literature analysis about the connection between FE and FA and the theory of the firm at the core of IR, and the empirical analysis of the content of the 2020 integrated reports released by 21 companies active in the chemical/pharmaceutical sector, and taken from, the IR website. Findings reveal the “weakness” of IR in becoming an engine for effective change - albeit with some exceptions - and a substantial persistence of the status quo compared to the mainstream.

The Implications of Digital Audit Practice, Management Support and Team Support on Auditor Performance

ABSTRACT Purpose: This study intends to examine whether Research Universities (RUs) provide more Integrated reporting (IR) disclosure levels than non-Research Universities (RUs) in Malaysia. The evaluation is supported by signalling and institutional theories. Design/Methodology/Approach: This research utilises quantitative content analysis of 16 public universities’ annual reports in Malaysia from 2016-2018. Findings: The result reveals that Malaysian RUs deliver better IR disclosure levels than non-RUs. RUs are expected to disclose a great deal as to communicate their accountability. Signalling theory shows that the RUs expose higher IR disclosure levels to signal their distinction and reputational edge in contrast to non-RUs. The hypothesis is in line with the institutional theory because RUs are compelled to report in a superior format because they are pressured to perform well and be ranked highly. Research Limitation: This study is limited to the accessible annual reports of Malaysian public universities. Practical Implication: The results provide insights for policymakers to adopt IR framework in the public sector, in this case - Malaysian public universities as to communicate the organizations' value creation to various stakeholders Originality/Value: This paper is among the few publications that study the financial reporting of public sectors in Malaysia, focusing on Malaysian public universities. Furthermore, this study is among the early studies investigating the trendy issue of the potential adoption of the IR approach in Malaysian public universities. Keywords: Integrated reporting, research universities, non-research universities, signalling theory, institutional theory

Disclosing value creation in integrated reports according to the six capitals: a holistic approach for a holistic instrument

PurposeThis study is an analysis that aims to understand the rationale behind the concept of value creation contained in the integrated reporting (IR) framework. As such, the authors examined the quality of the disclosures made in integrated reports by measuring the level to which the six capitals (6Cs) have been integrated into disclosures on value creation.Design/methodology/approachThe IR framework’s value creation model focuses on six content elements and three guiding principles. Hence, the present analysis combines content analysis with quantitative measures in the form of a bespoke Integrated Disclosure Index. The index measures the level of integration found in the disclosures instead of the mere presence or absence of mentioned capitals, content elements and guiding principles in isolation. The present sample comprised the 2016 integrated/sustainability reports for 184 listed companies sourced from the Integrated Reporting Examples Database.FindingsThe 6Cs are well disclosed in form but only partially disclosed in substance. Further, overall levels of integration between the capitals, the content elements and the guiding principles are higher than average. Disclosures on materiality, business models and stakeholder relationships are somewhat lacking, as are the related medium- and long-term disclosures on outlook.Practical implicationsThe paper contributes to the academic debate on IR by building a case for holistically assessing the substance of integrated reports. Considering that the IR value creation model can underpin and align with the 17 UN sustainable development goals, the authors show how the fundamental concept of the 6Cs sustaining value creation is understood and implemented differently across the various elements and principles of the IR framework.Social implicationsThis research also provides guidance for overcoming some of the practical hurdles associated with assessing the quality of reports because the authors provide tools for spotlighting the substance of disclosures over their form.Originality/valueThis paper delves into the substance of integrated reports by assessing how well the 6Cs have been integrated into disclosures on the content elements and guiding principles of the IR framework. In contrast to previous IR research that has mainly analysed capital, elements and principles in isolation, the authors develop an index assessing the integration of these three fundamental concepts of IR.

AN EMPIRICAL STUDY OF INTEGRATED REPORTING PRACTICES AS VOLUNTARY DISCLOSURES IN INDIAN ENERGY COMPANIES

Integrated Reporting (IR) provides various stakeholders with a wide range of highly informative and analytical value. The literature on IR reflects a positive view towards adopting IR practices, and the Security Exchange Board of India (SEBI) suggested that the top 500 listed entities followed IR practices voluntarily in Feb 2017. Therefore this study examined the trend and disclosure of IR followed by select Indian energy companies in a comparative manner sector-wise and operational area-wise from Financial Year (FY) 2017-18 to 2021-22. The top four electricity and petroleum companies listed on the Bombay Stock Exchange (BSE) based on market capitalization have been selected to examine IR practices. A checklist of 21 contents based on the IR framework is constructed to check the level of IR practices in select energy companies. Late adoption, lack of proper understanding of the IR framework, and common and different reporting trends were found in six select energy companies. These companies should have reported core values such as connectivity of information, conciseness and, reliability & completeness. IR practices of one company fully complied with the IR framework, and the IR practices of another company reflect a need for more connectivity of information only. Petroleum companies disclosed more readable IR practices in one place in the Integrated Annual Report (IAR) compared to electricity companies. Managerial and policy implications suggested at the end of this study should be adopted and enacted by organizations and regulatory authorities, respectively, for the soundness of IR practices from an Indian perspective.

Impact of Integrated Reporting on Information Asymmetry: Evidence from Sri Lanka

Considering the dearth of empirical evidence on the impact of integrated reporting (IR) on information asymmetry in developing countries, this paper investigates the impact of IR on information asymmetry in Sri Lanka. A paired sample t-test and a panel regression analysis are employed to draw empirical evidence. Information asymmetry is proxied by earnings forecast error, earnings forecast dispersion, and cost of equity capital, whereas firms' IR level is measured using the IR framework. Findings indicate a significant reduction in information asymmetry upon adopting IR. Further, they reveal that the level of IR has a feeble but statistically significant negative impact on the cost of equity capital. Earnings forecast error and forecast dispersion do not indicate significant associations with IR levels. Given the substantial cross-country differences, this paper offers a better understanding of the impact of IR on information asymmetry from a developing country setting where the adoption of IR is voluntary.

Integrated Reporting Disclosures: Evidence from Local Councils in Malaysia

Purpose: The objective is to determine the degree of Integrated Reporting (IR) disclosure in annual reports of selected city councils based on seven IR Framework Guiding Principles, namely (1) Strategic focus and future orientation, (2) Connectivity of information, (3) Stakeholder relationships, (4) Materiality, (5) Conciseness, (6) Reliability and completeness and (7) Consistency and comparability. Design/Methodology/Approach: This study performs content analysis on recent online annual reports of ten city councils against the IR Guiding Principles. Findings: Overall, the results indicate that IR is still at infancy and receives low acceptance by city councils. The results demonstrate that strategic aims and objectives were reported without indicating the time frame of the objectives. It was found that the annual report focuses more on the achievements of the department. All the city councils that were under study disclosed engagement activities with the community; used a combination of narrative statements, figures, pictures, and graphs; and disclosed positive information. The executive summary and Mayor’s message were provided at the beginning of the annual report to give an overview of the organization’s performance. Comparative data was used to benchmark performance across several years, but comparative data against other local authorities was limited. Research Limitation: The limitations include the small sample size, thus the findings from this study should not be generalized. However, it justified the objective to examine the individual disclosure of IR guiding principles by large public sector organizations. Second, the content analysis was performed on the most recent annual reports of selected city councils which may not reflect the overall practice on consistency and comparability. Third, this study focused on seven guiding principles of IR, which is only part of the comprehensive IR framework. Practical Implication: The findings from this study could be used as an input for regulators and other public sector entities to facilitate IR implementation in public sector organizations. Originality/Value: The paper contributes to the existing literature on the current stage of IR implementation in public sector. The findings obtained show that IR, which was initially observed as a private sector initiative, has implications in public sector organizations. Keywords: Integrated reporting, annual report, guiding principles, local council.

Present State of Integrated Reporting Disclosure Practices in Indian Telecom Industry

Integrated reporting (IR) provides a wide range of highly informative and analytical value to stakeholders like investors etc regarding value creation in the short, medium and long run. A study was conducted with a view to examine the adoption level of IR practices in Indian telecom industry and find out the relation between profitability of telecom companies and adoption level of IR. No relationship is found between profitability and IR adoption in Indian telecom sector as Reliance Jio is a profit making company but did not adopt IR practices and Bharti Airtel adopted IR practices even after having losses. Vodafone Idea is a company which was suggested by SEBI to adopt IR practices but did not adopt till FY 2021-22. BSNL has not adopted IR practices as it is a Government owned non-listed company which was not suggested by SEBI to adopt IR practices. It is suggested that SEBI should formulate IR framework in Indian perspective by considering India’s local reporting needs.

Exploring the meaningfulness of integrated reporting: a framing perspective

PurposeThe purpose of the study is to explain why there is a conflict in the meaningfulness of integrated reporting (IR) between International Integrated Reporting Council (IIRC) and analysts and institutional investors using framing theory and suggest a way forward for a meaningful IR to analysts and institutional investors.Design/methodology/approachThe study used qualitative research design in which data was collected from IIRC's document and 21 semi-structured interviews of analysts and fund managers conducted between 2014 and 2015 after the introduction of IIRC framework. This period coincided with prior studies that provide conflicting evidence over the meaningfulness of IR between IIRC and analysts and fund managers.FindingsThe findings show that the IIRC from inception uses a preparer-centred frame where it predominantly interprets IR as meaningful from the perspective of preparers of information under ideal conditions, and as such also meaningful to fund managers and analysts. On the other hand, the fund managers and analysts from the onset use a user-centred frame where they interpret IR as not meaningful from their perspective as users of the information under pragmatic conditions. The context making it difficult to reconcile the differentiated frames are the timeframe; absence of trust relationship and balance in reporting.Research limitations/implicationsThe study is limited by its qualitative nature meaning that generalisation of findings may not apply. Its data is also limited to IIRC IR Framework, analysts and fund managers as opposed to wider stakeholders.Practical implicationsThe practical implication of the findings suggests that if IR is to be made meaningful to analysts and fund managers, the promoters must reconcile the differentiations in frames employed by both the IIRC, analysts and institutional investors. Without this reconciliation IR may not serve the information needs of the intended primary users.Originality/valueThe study uses framing theory to show that time frame, emotional connectedness and data financialisation are attributes that make IR to be considered meaningful to analysts and fund managers. In addition, it provides insight into how the use of organisational and market context influences the framing of the meaningfulness of IR.

A critical reflection on voluntary corporate non-financial and sustainability reporting and disclosure: lessons learnt from two case studies on integrated reporting

PurposeThis study aims to provide a critical assessment of developments in the field of voluntary corporate non-financial and sustainability reporting and disclosure (VRD). The assessment is grounded in the empirical material of a three-year research project on integrated reporting (IR).Design/methodology/approachAlvesson and Deetz’s (2021) critical management framework structures the arguments in this paper. By investigating local phenomena and the extant literature, the authors glean insights that they later critique, drawing on the empirical evidence collected during the research project. Transformative redefinitions are then proposed that point to future opportunities for research on voluntary organisational disclosures.FindingsThe authors argue that the mainstream approaches to VRD, namely, incremental information and legitimacy theories, present shortcomings in addressing why and how organisations voluntarily disclose information. First, the authors find that companies adopting the International IR Council’s (IIRC, 2021) IR framework tend to comply with the framework only in an informal, rather than a substantial way. Second, the authors find that, at times, organisations serendipitously chance upon VRD practices such as IR instead of rationally recognising the potential ability of such practices to provide useful information for decision-making by investors. Also, powerful groups in organisations may use VRD practices to establish, maintain or restore power balances in their favour.Research limitations/implicationsThe paper’s limitations stem directly from its aim to be a critical reflection. Even when grounded on empirics, a reflection is mainly a subjective effort. Therefore, different researchers could come to different conclusions and offer different lessons from the two case studies.Practical implicationsThe different rationales the authors found for VRD should make a case for reporting institutions to tone down any investor-centric rhetoric in favour of more substantial disclosures. The findings imply that reporting organisations should approach the different frameworks with a critical eye and read between the lines of these frameworks to determine whether the purported normative arguments are achievable practice.Originality/valueThe authors reflect on timely and relevant issues linked to recent developments in the VRD landscape. Further, the authors offer possible ways forward for critical research that may rely on different methodological choices, such as interventionist and post-structuralist research.

Diffusion of integrated reporting, insights and potential avenues for future research

AbstractThis study reviews the diffusion of integrated reporting (IR) research. The systematic literature review method is used to review the effects of IR at the organisational level, determinants of IR adoption and integrated report quality (IRQ), assurance on IR, economic consequences of IR/IRQ, and research design issues to set agendas for future research. The review covers 119 peer‐reviewed IR articles published in 36 journals between 2012 and 2021. It finds that the IR literature is dominated by organisational‐level studies, but there is limited research on the economic consequences of IR/IRQ, and the findings are inconclusive to date. Further, the factors that determine IR adoption/IRQ are not conclusive, and there is scarce research on IR assurance. This review contributes to the emerging IR literature and provides valuable insights to the International Integrated Reporting Council (IIRC) in establishing the IR framework as a global reporting norm in practice.

Integrated Reporting Assessment from the User's Perspective Using the Integrated Report Quality Index

The last decades have seen a shift in the corporate reporting model, moving from financial disclosure to the triple bottom line approach, including information about financial, environmental and social capital, also referred to as a sustainability reporting. These changes have been driven by stakeholder pressure on corporate transparency and emerging disclosure regulation. The International Integrated Reporting Council aimed to add value to sustainability reporting by developing integrated reporting (IR), seeking not only to combine financial and non-financial reporting but to show connectivity between them and provide a clear picture of how the company can create and sustain value over the short, medium and long term. This approach has been followed by a great number of corporations since its initiation in 2010. Given that the IR framework is rather principles-based, the quality of such reports differs from company to company. The main objective of this paper is to assess the quality of IR from the user's perspective. We analyse companies listed in IBEX 35 and compare the evolution of the IR quality in 2016 and 2019. To do so, an index was developed measuring the quality of the integrated report based on elements such as visuality, navigability, technological elements and business model description. Our findings show that while, in 2016, companies operating in critical sectors tended to have a generally higher IR quality, there were no significant differences in 2019 between companies operating in critical and non-critical sectors, and the general quality has decreased in favour of the quantity of information.

Board Characteristics and Risk Disclosure Quality by Integrated Reporters : Evidence from Indian Banks

This study aimed to analyze the influence of board characteristics on the quality of risk disclosures in integrated annual reports of banks in India. Integrated reports support organizations in controlling risks, identifying opportunities, connecting risks with business policies, developing business models, and contributing to the value creation process. In February 2017, the Securities and Exchange Board of India (SEBI) recommended the adoption of an integrated reporting (IR) framework by the top 500 companies in India on a voluntary basis from 2017–18. Considering the relevance of integrated reporting and its underlying benefits to various stakeholders, banks have primarily adopted the IR framework and started publishing their annual reports in line with the IR principles. Using content analysis on the sample of 30 banks listed on the National Stock Exchange (NSE) in India, the efficacy of risk disclosures, the outlook orientation (past, present, and future), approaches to risk (positive, neutral, and negative) were investigated, and the influence of attributes of board of directors on the quality of risk disclosure was examined. On examining 4,183 sentences concerning risk disclosures by Indian banks, the results showed a positive relationship between board size, diversity, independence, meetings, and education background in accounting/finance with risk disclosure quality (RDQ). Also, it was found that integrated reporters tended to disclose more risks and suggested ways to mitigate those risks compared to non-adopters.

Gaps in engagement in and use of Integrated Reporting in Brazil

ABSTRACT The aim of this research was to identify the gaps in engagement and use among the social actors involved with Integrated Reporting (IR) in Brazil: the companies and professionals responsible for promoting it, the organizations that implement it, and the companies and professionals that use it. In Brazil, private organizations may engage in and use IR via the mechanism of mimetic or normative institutional isomorphism, while public ones do so via the coercive mechanism. In addition to this situation, studies have shown that organizations are still adapting to IR framework 1.0 and that there is a need to discuss improvements relating to its guiding principles, as well as the factors that can contribute to facilitating its adoption by organizations. Besides showing a number of gaps to be mitigated in order to facilitate engagement in and use of IR, the findings indicate that the social actors approach could include a change of organizational culture and not only the principles and methodological elements of IR. This study presents reflections and elements so that the social actors involved with IR can implement actions to accelerate engagement in and use of this initiative in Brazil; that is, which contribute to changing the mental model of managers in relation to the process of value creation, preservation, and erosion over time. This is a qualitative, interpretative, and exploratory study, as it covers a recently addressed topic, both in the international and in the national literature. The data were collected from interviews, documents, and observations of participants and non-participants and interpreted using the template analysis technique. The findings revealed five gaps in engagement and use among the social actors to be overcome in order for this initiative to be more effective: an absence of integrated thinking in organizations; exclusion of IR from corporate governance; an absence of standardization of methodologies for measuring impacts and disclosing risks; a lack of knowledge of the range of IR matters; and controversy between the regulation and self-regulation of IR. Therefore, the study contributes with an empirical investigation that discusses the situation regarding the implementation of IR in Brazil with the protagonists of this initiative. It also presents a conceptual model based on the antecedents and consequences of IR that can be used to develop a measurement scale to be used in countries in a similar situation to that of Brazil.

THE INTEGRATED REPORTING FRAMEWORK ACROSS PUBLIC ADMINISTRATION: A THEMATIC REVIEW

Background and Purpose: The Integrated Reporting framework as emphasised by The International Integrated Reporting Council (IIRC) in 2013 (revised 2021), was accepted as one of the mechanisms nationwide to enhance public accountability. However, far fewer studies examined the intersection of the Integrated Reporting (IR) framework and the public sector. Addressing the gap, reviews of the literature were presented synthesising the adoption of the IR framework across public administration.
 
 Methodology: By drawing upon SCOPUS, Science Direct and Mendeley databases were employed to generate academic literature beginning in 2011 through 2020. Following the inclusion and exclusion processes, 23 articles were selected and analysed by using ATLAS.ti 8.
 
 Findings: The findings of the review were discussed qualitatively and quantitatively. Particular discerning were the qualitative findings; the findings outlined insights into key developments on the IR framework across the following groups, namely, ‘Fundamental Concepts’, ‘Guiding Principles’, and ‘Content Elements’. Key aspects of challenges concerning the adoption of existing frameworks in public administration were discussed.
 
 Contributions: Future research might better consider developing a more appropriate IR framework for public administration, a framework that integrates policy and practice. By focusing on the academic literature emphasising the IR framework, academics, regulators, and reporting organisations could formulate appropriate strategies for public administration.
 
 Keywords: Framework, integrated reporting, public sector, thematic review.
 
 Cite as: Othman, M., Basnan, N., Ahmad, A., & Md Salleh, M. F. (2022). The integrated reporting framework across public administration: A thematic review. Journal of Nusantara Studies, 7(1), 410-440. http://dx.doi.org/10.24200/jonus.vol7iss1pp410-440

Effects of integrated reporting on the cost of capital and analysts’ forecasts errors: A study of Johannesburg Stock Exchange listed mining firms

Orientation: Integrated reporting (IR) has gained traction over the last decade. Although IR became mandatory for all firms listed on Johannesburg Stock Exchange (JSE) in 2010, the International Integrated Reporting Council (IIRC) issued the IR framework in December 2013.Research Purpose: The study seeks to investigate the effects of IR on the cost of equity capital and analysts’ forecast errors for the mining firms listed on JSE.Motivation for the study: A large part of empirical evidence highlights benefits of IR; however, some studies still find no link between the quality of integrated reports and economic benefits for the reporting firm. It is against this backdrop that the study investigates effects of integrated reports on the cost of equity capital and analysts’ forecast errors.Research approach, design and method: We use a quantitative research design to test effects of IR on the cost of equity capital and analysts’ forecast errors. We study used a panel regression to analyse relationship amongst IR, cost of equity capital and analysts’ forecast errors.Main findings: The study found a significant negative relationship between IR scores and cost of equity and analysts’ forecast errors.Practical or managerial application: The findings of the study could incentivise managers in other jurisdictions where IR is not mandatory. Furthermore, findings may contribute to the existing discourse on firm-based benefits related to the quality of IR.Contribution or value addition: The study contributes to the body of knowledge with regard to possible benefits associated with compliance with the IR reporting framework.

Integrated Reporting Implementation and Core Activities Disclosure in UK Higher Education Institutions

Through integrated reporting (IR) and integrated thinking (IT), higher education institutions (HEIs) can engage future students, staff and other key stakeholders. This paper examines the impact of IR framework implementation on core activities disclosure within the UK HEIs. In particular, the authors explore the influence of the integrated thinking approach, intended to enhance the extent of the IR content elements, teaching and learning, internationalisation and research activities disclosure. The study is based on the annual reports of 123 UK HEIs over 3 years—2015–16, 2016–17 and 2017–18. Consistent with the predictions of legitimacy theory and the integrated thinking approach, the results show the extent that integrated reporting content elements and HEIs core activities disclosure practices have increased over the study period. The results also indicate that adoption of the IR framework, league table ranking position, key performance indicator reporting, size, research quality and graduate prospects all have significant positive influences on HEIs core activities disclosure. Based on the findings, the recommendations are that UK HEI governing and other regularity bodies, such as British Universities Finance Director Groups, Leadership Foundation in Higher Education and the Higher Education Funding Council, should consider development of voluntary integrated reporting guidelines and a core activities disclosure framework.