Discussion of Results

This chapter presents and discusses the results of our analysis. Regarding the findings our first research study, the questionnaire on IR, we organize the discussion of results into more sections, namely research area (1) the interaction between the financial and non-financial information; IR versus other reports; research area (2) the capitals and the value creation process; research area (3) defining integrated reporting; research area (4) IR costs and benefits; research area (5) determinants of integrated reporting; research area (6) recommendations concerning the IIRC framework; research area (7) the industry; research area (8) characteristics for IR information; research area (9) voluntary versus mandatory IR and assurance. The second part of our research presents the results of the SPSS analysis, and we interpret the data according to its economic and business significance.

Research Methodology

This chapter clarifies the research methodology adopted for attaining our objective stated previously in this manuscript. The methodology involves two main parts: the development of a survey or questionnaire targeting members of accountancy profession, and the set-up of a prototype framework meant to test the IR adoption in the corporate business environment. We also explain our research questions that represent the fundament for the path of this book. Therefore, we should ask ourselves: What is “integration”? Which information should be included in an integrated report and why? These two questions are answered through the application of the questionnaire and the development and testing of the IR Framework.

Conceptual Model

The current chapter explains the conceptual model outlined in this manuscript: how we arrived to our original Integrated Reporting <IR> Prototype Framework. Finally, we seek to demonstrate that the information from the framework is mostly disclosed in corporate annual reports, and that there is interest for integrated reporting adoption. The IR elements from our prototype framework resulted from accountancy profession expertise (ICAEW, IFAC, FEE, and others) International Integrated Reporting Committee (IIRC) Guidelines, IFRS-IASB standards with impact on both financial and non-financial information, social audit standards (SA8000 and AA1000), or disclosure requirements set up by a Directive of the European Union.

Literature Review

Within the current chapter, we present the most relevant (and recent) literature review in the fields of integrated reporting, corporate disclosure, accounting theories, etc. This section incorporates previous studies on our topic. We explain the integrated reporting (IR) origins from corporate social responsibility (CSR) and sustainability perspectives. In addition, we set the coordinates for the ‘integration' process as new disclosure mechanism of corporate reports, in the form of economic, social, and financial mix integration. Finally, the chapter deepens the understanding upon corporate reporting theories that can explain the integrated reporting trend: institutional theory, legitimacy theory and positive accounting theory.