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Environmental, social and governance disclosure, integrated reporting, and the accuracy of analyst forecasts

Bernardi, Cristiana and Stark, Andrew W. (2018). Environmental, social and governance disclosure, integrated reporting, and the accuracy of analyst forecasts. British Accounting Review, 50(1) pp. 16–31.

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DOI (Digital Object Identifier) Link: https://doi.org/10.1016/j.bar.2016.10.001
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Abstract

The International Integrated Reporting Council advocates that integrated reporting (IR) should become the worldwide norm for corporate reporting aimed at serving the needs of investors. Nonetheless, only in South Africa has IR been mandated. We study the impact of the reporting regime change in South Africa on analyst forecast accuracy over the period 2008 to 2012, as a way of evaluating users’ perceptions of the usefulness of IR. We theorise that any effects of IR will be greater the greater is the level of disclosures of environmental, social and governance performance. We find results consistent with those who support IR and our theory that the level of environmental, social and governance disclosures is a mediating variable in determining the effectiveness of IR. The results are driven by the levels of environmental disclosure and, to a lesser extent, governance disclosure. Our results provide some support for those who advocate the virtues of integrated reporting.

Item Type: Journal Item
Copyright Holders: 2016 Elsevier Ltd.
ISSN: 0890-8389
Keywords: Integrated reporting; Environmental, social and governance disclosures; Analyst forecasts
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
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Item ID: 49418
Depositing User: Cristiana Bernardi
Date Deposited: 18 May 2017 15:44
Last Modified: 06 Jun 2019 12:09
URI: http://oro.open.ac.uk/id/eprint/49418
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