scholarly journals Differences in Disclosure of Integrated Reports at Energy and Non-Energy Companies

Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1253
Author(s):  
Maja Piesiewicz ◽  
Marlena Ciechan-Kujawa ◽  
Paweł Kufel
Keyword(s):  
Ownership Structure ◽  
Value Creation ◽  
Energy Sector ◽  
Financial Data ◽  
Integrated Reporting ◽  
Creation Process ◽  
And Performance ◽  
Energy Companies ◽  
The Impact ◽  
Value Creation Process

Integrated reports combine financial and non-financial data into a comprehensive report outlining the company’s value creation process. Our objective is to find the completeness of disclosures, which is a crucial aspect of an integrated report’s quality. This study contributes to the integrated reporting examination by identifying quantitative and qualitative gaps when applying Integrated Reporting standards, focusing on the energy sector. We conducted the study on 57 published integrated reports of listed companies in Poland. The content of each report was examined for 49 features divided into eight areas. We identify the strengths and weaknesses of current reporting performance and the impact of the company’s sector on reports’ quality. We noted that there are significant differences among the areas. The major problems concern implementing IIRC’s framework on the connections between the business model and the organization’s strategy, risks, opportunities, and performance. Our research also noted that the level of specific disclosures might be related to a company’s ownership structure. We investigated the significance of differences among companies from the energy and non-energy sectors using statistical methods. As a result of the study, we obtained that disclosures’ completeness depends on the operation sector. The companies in the energy sector publish higher-quality integrated reports than companies in the other sectors.

scholarly journals Credit Risk and Shareholders’ Value in a Developing Economy: Evidence from Pakistani Banking System

2012 ◽  
Vol 4 (2) ◽  
pp. 87-95
Author(s):  
Ahmed Arif ◽  
Mohammad Afzal .
Keyword(s):  
Credit Risk ◽  
Value Creation ◽  
Panel Data Analysis ◽  
Banking System ◽  
Capital Adequacy ◽  
Loan Loss ◽  
Creation Process ◽  
The Impact ◽  
Value Creation Process

The present study examines the role of credit risk in value creation process in banking system of Pakistan. This study here develops a conceptual model with three antecedents to credit risk. These antecedents are loan loss provision, advances, and capital adequacy ratio. The study analyzes the impact of these antecedents on accounting return on equity (ROE) and market return on shares (ROS). The data come from 20 banks listed on Karachi Stock Exchange (KSE) for 2004-2009. The study includes panel data analysis to analyze the relationship between the selected variables. The results of this study expose a minimal role of credit risk in value creation process in banking system of Pakistan. The results further reveal that banks with higher advances in their portfolio are successful in getting the confidence of shareholders.

scholarly journals How do current public Integrated Reports align with the IR Framework?

2015 ◽  
Vol 89 (12) ◽  
pp. 518-532 ◽  
Author(s):  
Paul Hurks ◽  
Henk Langendijk ◽  
Kavita Nandram
Keyword(s):  
Resource Allocation ◽  
Value Creation ◽  
Current Practice ◽  
Pilot Program ◽  
Integrated Reporting ◽  
Legal Requirements ◽  
Creation Process ◽  
Guiding Principles ◽  
Value Creation Process

This paper examines empirically the current practice with regard to integrated reporting according to the IR Framework among the 104 original participants (companies) of the IIRC Pilot program. We made a selection with respect to these 104 participants based on organization’s stipulation that they issue an integrated report and/or that they made use of the IR Framework for their report in a journey towards integrated reporting. In general we can conclude that the 38 companies in our sample are well ahead on the journey of integrated reporting. These 38 companies comply to a certain extent with the requirements with respect to the fundamental concepts, guiding principles and content elements of the IR Framework. Also the majority of the annual integrated reports have an assurance opinion. The main Welds of improvements are the connection of the content elements with the capitals and the value creation process. Furthermore, companies should pay more attention to the content element ‘opportunities’ and not only display their ‘risks’. Also, companies should treat the content element ‘governance’ as a means to create value and have this element connected with the capitals. Currently the governance information is rather traditional and in line with the legal requirements. Moreover there is room for improvement with respect to the content element ‘strategy in relation with resource allocation’ (use of capitals). The content element ‘basis of preparation and presentation’ is often not present in the annual integrated report.

scholarly journals Disclosure of Intellectual Capital Components in Integrated Reporting: An Empirical Analysis

2018 ◽  
Vol 11 (1) ◽  
pp. 62 ◽  
Author(s):  
Serena Santis ◽  
Michela Bianchi ◽  
Alberto Incollingo ◽  
Marco Bisogno
Keyword(s):  
Intellectual Capital ◽  
Value Creation ◽  
Financial Services ◽  
Integrated Reporting ◽  
Creation Process ◽  
Services Sector ◽  
Financial Services Sector ◽  
Analysis Methodology ◽  
The One ◽  
Value Creation Process

The purpose of the study is to investigate how firms disclose information in their integrated report (IR) on intellectual capital (IC), regarding its components and their link with the value creation process. Therefore, by adopting a content analysis methodology, the study, which covers three years (2014–2016), is focused on IC. A sample of firms belonging to the financial services sector is investigated by analysing 135 integrated reports. The main findings show that firms, on the one hand, provide information on IC by adopting a classification close to those outlined by IC scholars; on the other hand, the vast majority of the investigated firms tends to adopt a superficial approach. More specifically, firms disclose a low amount of information about the link between IC and the value creation process, even though they are aware of its importance.

scholarly journals Does Corporate Governance Affect the Quality of Integrated Reporting?

2020 ◽  
Vol 12 (10) ◽  
pp. 4262 ◽  
Author(s):  
Thilini Cooray ◽  
A. D. Nuwan Gunarathne ◽  
Samanthi Senaratne
Keyword(s):  
Corporate Governance ◽  
Value Creation ◽  
Mandatory Reporting ◽  
Quality Information ◽  
Sri Lankan ◽  
Integrated Reporting ◽  
Creation Process ◽  
Reporting Requirements ◽  
Value Creation Process

This study examines how governance mechanisms affect the quality of integrated reporting (IR), which is fast emerging both as a tool to help firms understand their value creation process and to communicate effectively with external stakeholders. This study first developed an index to assess the quality of integrated reports. Subsequently, 132 integrated reports of Sri Lankan public listed companies selected over a three-year period were content analysed. The hypotheses formulated on the relationship between corporate governance and the quality of IR based on the agency theory were analysed using multivariate linear regression and panel regression. The results show that there is limited support from the corporate governance system for providing quality information to stakeholders on the value creation process through IR, except for board size and the availability of a separate risk management committee. This is the result of the heavy emphasis of corporate governance requirements and the resulting mechanisms of Sri Lankan companies on mandatory corporate reporting requirements compared to a voluntary reporting model such as IR. Since many corporate governance aspects are meant to fulfill mandatory reporting requirements, the results imply that the directors have given limited attention to providing quality information through voluntary disclosure practices such as IR, although they use resources to prepare integrated reports.

Intellectual capital performance during financial crises

2016 ◽  
Vol 20 (3) ◽  
pp. 55-78 ◽  
Author(s):  
Sampath Kehelwalatenna
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Value Creation ◽  
Financial Crises ◽  
Minor Role ◽  
Resource Base ◽  
Content Type ◽  
Creation Process ◽  
The Impact ◽  
Value Creation Process

Purpose This paper aims to examine empirically the behaviour of the impact of intellectual capital (IC) on firm performance during financial crises, having observed that there was no prior research carried out to examine whether the theoretically expected sustainable firm performance created by IC holds during a financially unstable situation in the economy. Design/methodology/approach The Pulic’s value-added intellectual coefficient method is used to measure IC. Firm performance is measured through productivity, profitability and revenue growth. Structural stability tests and dynamic regression models for panel data are used for the data of 191 banking firms listed on the New York Stock Exchange during 2000-2011. Findings The paper reveals, contrary to theoretical expectations, that the impact of IC on firm performance is inconsistent during financial crises. This behaviour emerges mainly because of the incapability of human capital, the main component of IC, to create value for the sample firms during financial crises. Research limitations/implications The findings of the study are confined to financial crises that existed in the US economy during the period 2000-2011. The findings provide evidence that heterogeneity in the resource base of a firm plays a very minor role in the value creation process during turbulent economic situations. The findings also question the practicality of investing in intangible assets, including IC, during periods of financial crises. Originality/value This paper could be the first attempt to evident empirically that the heterogeneity in the resource base of the firm has a very minor role to play in the value creation process when instability exists in the macroeconomic environment.

scholarly journals Case Studies of Value Creation on Integrated Reporting in Japan

2020 ◽  
pp. 25-40
Author(s):  
Dr. Kazunori Ito
Keyword(s):  
Value Creation ◽  
Balanced Scorecard ◽  
Business Strategy ◽  
Information Disclosure ◽  
Social Issues ◽  
Integrated Reporting ◽  
Discussion Paper ◽  
Creation Process ◽  
Value Loss ◽  
Value Creation Process

How to visualize the value creation process is a major issue in integrated reporting. If a strategy map of Balanced Scorecard (BSC) is used, value creation and suppression of value loss can be visualized separately according to the strategic theme. The value creation process can be visualized by distinguishing between strategic themes in business strategy and strategic themes solving social issues. However, there is an issue in that companies that have not adopted the BSC cannot use strategy maps. For this reason, how to visualize the value creation process is a highly interesting topic to investigate. The International Integrated Reporting Council's IIRC framework (2013b) mainly focuses on information disclosure to financial capital providers, and visualization of the value creation process focuses on value creation through business strategy. At the sametime, an IIRC discussion paper (IIRC, 2011) contained a proposal that also focused on suppression of value loss to stakeholders by solving social issues.

Charity Sport Event Sponsorship as Value Creation Strategy: An Event Participant Perspective

2021 ◽  
pp. 1-14
Author(s):  
David Fechner ◽  
Kevin Filo ◽  
Sacha Reid ◽  
Robyn Cameron
Keyword(s):  
Multiple Sclerosis ◽  
Value Creation ◽  
Service Provider ◽  
Internet Service Provider ◽  
Sport Event ◽  
Internet Service ◽  
Creation Process ◽  
Semistructured Interviews ◽  
Sport Events ◽  
Value Creation Process

Sponsoring charity sport events (CSEs) represents an opportunity for businesses to achieve a variety of marketing objectives. Event sponsors need to promote their brand in an authentic manner because CSE participants may be skeptical of the sponsor if they believe the organization is supporting the event solely for commercial purposes. The current research examines the perceptions that CSE participants have for a sponsor’s contribution to the value creation process of the event. Semistructured interviews (N = 17) were conducted with MS (multiple sclerosis) Moonlight Walk 2018 participants to explore how this key stakeholder perceives the contribution of the sponsor (Harbour ISP [Internet service provider]) in the event experience. Five themes were uncovered: raising CSE awareness, cultivating a fundraising network, engaging authentically, celebrating constituents, and providing operational support. Building on the findings of this research, CSE managers and sponsors should work to share the story behind their partnership while integrating event participants in the development of the sponsorship program.

Is property management viewed as a value-added service?

2019 ◽  
Vol 37 (2) ◽  
pp. 262-274 ◽  
Author(s):  
Dustin C. Read ◽  
Andrew Carswell
Keyword(s):  
Real Estate ◽  
Value Creation ◽  
Value Added ◽  
Professional Service ◽  
Property Management ◽  
Individual Property ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Value Creation Process

PurposeThe purpose of this paper is to examine the perspectives of real estate executives to assess the extent to which property management is viewed as a commodity or as a value-added professional service contributing positively to investment performance and property value maximization.Design/methodology/approachThe qualitative analysis draws on the result of 93 semi-structured interviews conducted with executives employed by some of the largest real estate investment management and service firms across the USA.FindingsThe findings suggest that significant perceptual cleavages exist in the real estate industry, with some executives believing property managers are incredibly important to the value creation process and others believing they play a much more modest role.Practical implicationsThe results highlight the need for the property management industry as whole to continue its efforts to gain recognition as a value-added professional service and for individual property management companies to actively take steps to differentiate themselves from competitors if they hope to avoid commodification and fee compression.Originality/valueThe study is the first to the authors’ knowledge to examine real estate executives’ perspectives about the roles property managers play in the value creation process, as well as their views about whether property managers have the skills and autonomy required to make value accretive decisions.

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