Search results

This 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).

Alvesson 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.

The 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.

The 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.

The 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.

The 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.

This article investigates the quality of stakeholder engagement (SE) process disclosure in the context of non-financial reporting (NFR) introduced by Directive 2014/95/EU (NFRD). SE implies the involvement of the subjects interested in the organization's activity, according to the principle of inclusiveness and the key concepts of the stakeholder theory (ST).

The authors conducted a content analysis on 75 non-financial statements (NFSs) published by companies listed on the Italian Stock Exchange in 2018 and 2021 to evaluate the evolutionary profiles of SE quality through the years.

The average level of SE is not significantly high. The research showed an overall poor quality of disclosure concerning stakeholders' key expectations and issues to be addressed and answered. Furthermore, a certain variability emerged in the quality of the disclosure between the various reports, and no significant improvements in SE quality were noted from 2018 to 2021.

The conclusions provide a replicable method for the analysis of SE quality in NFSs and the development of new standpoints in the ongoing debate on the implications of mandatory legislative frameworks for NFR. Content analyses intrinsically present margins of subjectivity. The sample was limited to a subset of NFS from Italy; hence, the results could be country specific.

This work suggests some possible ways of improvement of SE practices by companies.

Original assessment model based on eight variables identified from the academic literature and the most common international sustainability reporting standards. These variables were stakeholder identification, stakeholder selection process, degree of involvement, SE approach, dialogue channels, SE results, different points of view and integration of the SE process.

This paper aims to evaluate non-financial reporting (NFR) frameworks insofar as risk reporting is concerned. This is facilitated through analysis of the adequacy of climate- and pandemic-related risk reporting in three industries that are both significantly impacted by the COVID-19 pandemic and are at risk from climate change. The pervasiveness of pandemic and climate-change risks have been highlighted in 2020, the hottest year on record and the year the COVID-19 pandemic struck. Stakeholders might reasonably expect reporting on these risks to have prepared them for the consequences.

The current debate on the “complexity” of sustainability and NFR frameworks/standards is critically analysed in light of the COVID-19 pandemic and calls to “build back better”. Context is provided through analysis of risk reporting by the ten largest airlines and the five largest companies in each of the hotel and cruise industries.

Risk reporting on two significant issues, pandemics and climate change, is woefully inadequate. While very little consideration has been given to pandemic risks, disclosures on climate-related risks focus predominantly on “risks” of increased regulation rather than physical risks, indicating a short-term focus. The disclosures are dispersed across different corporate reporting media and fail to appreciate the long-term consequences or offer solutions. Mindful that a conceptual framework for NFR must address this, the authors propose a new definition of materiality and recommend that sustainable development risks and opportunities be placed at the core of a future framework for connected/integrated reporting.

For sustainable development risks to be perceived as “real” by managers, further research is needed to determine the nature and extent of key sustainable development risks and the most effective mitigation strategies.

This paper highlights the importance of recognising the complexity of the issues facing organisations, society and the planet and addressing them by encouraging robust consideration of the interdependencies in evolving approaches to corporate reporting.

This study contributes to the current debate on the future of corporate reporting in light of two significant interconnected crises that threaten business and society – the pandemic and climate change. It provides evidence to support a long-term oriented and holistic approach to risk management and reporting.

This 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.

The 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.

The 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.

The 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.

This 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.

This 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.

This study explores the scope, materiality and extent of environmental and social sustainability disclosure – as benchmarked against the Global Reporting Initiatives (GRI-G4) – of the top 10 logistics firms operating in Australia. It also investigates the relationships between the extent of environmental and social sustainability disclosure of these firms and their actual financial performance.

The authors adopted an inductive case study approach for an in-depth investigation of the relationships among concepts. A content analysis of the firms' sustainability reports was performed to determine their pattern and extent of sustainability disclosure against the GRI framework. A disclosure–performance analysis (DPA) matrix was employed to relate the extent of environmental and social sustainability disclosure of these 10 firms with their actual financial performance (i.e. return on assets [ROA] and total revenue growth).

This study found that the extent of sustainability reporting was relatively high on the labour practices and decent work subgroup, followed by the environmental dimension of the GRI-G4 framework. However, it was relatively low on the society, human rights and product responsibility subgroups of the GRI framework. The DPA revealed that “Leaders” (firms with higher sustainability disclosure levels) achieved significantly higher ROA. However, “Opportunists” (firms with lower sustainability disclosure levels) achieved higher levels of financial returns (i.e. ROA and total revenue growth) with less attention to sustainability issues, which contradicts the win-win view of the sustainability disclosure–financial performance relationship.

First, this study contributes an in-depth review of sustainability disclosure practices of top logistics firms operating in Australia. Second, using DPA, it identifies the novel effects of environmental and social sustainability disclosure levels on these firms' financial performance. It also sheds further light on the potential effect of investments beyond substantial profitability for sustainability growth and corporate governance on the sustainability disclosure–financial performance relationship.

The porpose of this study is to critically consider the use of global reporting initiative (GRI) guidelines in universities’ sustainability reports.. In light of the recent literature and Habermas’s thinking, the study advances the research field by considering the process of internal colonisation from steering institutions and makes suggestions regarding the future role of GRI in the higher education (HE) context.

This study presents a systematic literature review and content analysis for enhancing the critical reading of GRI applications in HE studies. The results are analysed in light of Habermas’s thinking, considering the GRI as a steering institution and its guidelines as steering mechanisms.

This study updates the literature review on sustainability reporting (SR) at universities and underlines the general trend in the employment of the GRI in this context. The results highlight the need to adapt the GRI to enhance its applicability in the HE context by considering additional dimensions such as research, teaching and operations. In doing so, the framework loses effectiveness and weakens the role of the GRI as a steering institution.

The results suggest that the GRI guidelines should be reframed to enhance comparability among reports and increase its wider employment at universities.

Universities need to be guided in their accountability process towards SR by dedicated frameworks. This study suggests the potentially pivotal role that the GRI could play in providing dedicated tools for HE to steer and enhance the development of SRs at universities.

This study presents an updated review of studies on SR at universities and suggests possible paths for the future of the GRI framework applicability to universities’ SR.

This paper aims to explore the reporting challenges and related organisational mechanisms of change associated with disclosing corporate risks within integrated reports.

This paper adopts a Latourian performative approach to explore the organisational mechanisms of change in terms of networks of actors, both “human” and “non-human”, involved in the preparation of risk-related disclosure. Empirical evidence is collected by means of in-depth interviews with the preparers of an integrated reporting pioneer company.

Preparing disclosure on corporate risks in the context of integrated reporting demands close interaction among several actors. When disclosure shifts from listing key risks to providing information on how these risks are managed or connect with corporate strategy and value creation, departments not usually involved in corporate reporting play an active role and external stakeholders offer pertinent insights, benchmarks and feedback. Integrated reporting and risk management frameworks are the “non-human” actors that facilitate the engagement of diverse “human” actors.

Preparers should be aware that risk disclosure within integrated reports requires collaboration among (“human”) actors belonging to different departments and the engagement of external stakeholders. Preparers should consider the frameworks of integrated reporting and risk management as facilitators of cross-departmental discussions and dialogue, rather than mere contributors of guidelines and recommendations.

This study enriches the scant literature on organisational mechanisms of change made in response to integrated reporting challenges, showing subsequent advancements in the organisational process underlying the preparation of risk disclosure.

This paper aims to explore how the Italian wine industry discloses corporate social responsibility (CSR) practices and quality certifications and the corresponding determinants via websites. The study also aims to investigate the relationship between CSR practices and financial performance. The information consistency between the quality certificates reported on corporate websites and official database statements is also explored. Lastly, the paper investigates how the relationship between the size of wineries and CSR disclosure changes according to firms' geographic location.

This paper analyses CSR corporate communication via the websites of a sample of Italian wineries by adjusting the theoretical framework developed by Amran (2012) to the wine sector's peculiarities. Moreover, a cross-certification analysis and a moderation analysis were performed to fulfil the purpose of the research.

The analysis revealed the extensive use of CSR disclosure via websites. It was found that company size positively affects CSR disclosure and Quality Certification Disclosure (QCD), while geographic location slightly moderates the relationship between the two variables. In addition, a negative relationship between CSR disclosure and corporate financial performance and its reverse causality emerged. Moreover, for most wineries, information consistency between the quality certificates reported on corporate websites and official database statements was observed.

The study's main limitation is that the search process was performed during lockdown. Therefore, the examined issues could change in the near future due to the shift in priorities that the COVID-19 pandemic is determining.

The results can help managers implement CSR disclosure and QCD practices to enhance stakeholder legitimacy and enable their companies to compete in strongly competitive international markets.

The paper represents the first study investigating online QCD and its consistency in the Italian wine sector.

The study visualizes the link between environment accounting & triple bottom line, quantitative environmental reporting & standard method, voluntary environmental disclosure & legal requirement, size of company & volume of environmental disclosure, material flow analysis & life cycle assessment to achieve sustainable development in Bangladeshi corporation. Therefore, the purpose of the study is to investigate the role of these factors to achieve sustainable development in Bangladeshi corporation. To investigate the role of these factors, ten factors that significantly contribute to achieve sustainable development were determined. A set of closed-minded questionnaire was developed on the basis of these factors to collect the data from employees & employers. Questionnaire was administered by using statistical tools such as matrix, cross tabulation & Paired Samples Tests as a data collection tool and analyses. Research finding shows that sustainability of corporation was associated with the performance of economic, social, and environment. Other factors like quantitative environmental reporting, standard method, voluntary environmental disclosure, legal requirement, size of the company, volume of environmental disclosure, material flow analysis & life cycle assessment were found that they worked as a complement to enhance the performance of economic, social, and environment to achieve sustainable development in Bangladeshi corporation.

This study investigates how cruise corporations, which have shown consistent and high growth rates in recent years, address the Sustainable Development Goal 17 (SDG17) “Partnership for the Goals” to meet the UN 2030 Agenda. This study aims to fill the existent gap in the literature, as also highlighted by practitioners in the First Research Conference on Tourism, through the lens of stakeholder theory.

This study focuses on the analysis of partnerships and collaborative governance of cruise corporations’ endeavours to meet the UN 2030 Agenda. This study is supported by the sustainability disclosure framework and stakeholder theory, based on the dependence of resources and descriptive and instrumental approaches to describe, analyse and map, through multi-stakeholder partnerships, the sustainability initiatives and practices adopted by cruise corporations. A systematic manual content analysis has been developed on sustainability reporting published by corporations.

According to the descriptive and instrumental approaches and the dependence resources construct of the stakeholder theory, this study highlights the typology and nature of partnerships with SDGs, and their strategic role in achieving them, although cruise corporations do not highlight in their sustainability reporting the measures of effectiveness regarding the relationship between single partnerships and targets reached for each SDG.

Recommendations at the managerial level are put forward to support cruise corporations’ initiatives and practices to meet UN 2030 Agenda. This study suggests to governors of corporations the cooperation between the cruise industry and institutions at the local, national and international levels for promoting institutional interventions at the infrastructure and economic level.

This study provides further insights into the under-researched topic of sustainability disclosure within the cruise industry, adopting the lens of stakeholder theory from the partnerships’ perspective. To the best of the authors’ knowledge, this is the first study to adopt the analysis of the SDG practices under the lens of the stakeholder theory, based on the dependence of resources and descriptive and instrumental approaches to identify, map and analyse the multi-stakeholder partnerships as an enabling key to meet UN 2030 Agenda in the cruise industry.