The concept of reporting nonfinancial information within the annual report, so‐called Integrated Reporting (IR) is a rising topic in reporting practice. Supporters claim that IR provides a better view regarding the value creation of a firm. This study investigates the value relevance of IR and the influence of certain characteristics such as assurance. Thus, this paper contributes to the existing literature by examining the actual advantages for firms when adopting an IR approach. The Ohlson model is applied for the market valuation of 50 companies of the STOXX Europe 50 between the years 2010 and 2016. The results of this study support the cost‐concerned school by showing a negative influence on the market value. Nonetheless, the study suggests that the quality of the reports is relevant for market valuation, as the negative effect is mitigated by the quality of the reports.
@article{doi:10.17170/kobra-202004171161,
author ={Landau, Alexander and Rochell, Janina and Klein, Christian and Zwergel, Bernhard},
title ={Integrated reporting of environmental, social, and governance and financial data: Does the market value integrated reports?},
keywords ={330 and Nachhaltigkeitsbericht and Wertschöpfung and Informationswert},
copyright ={http://creativecommons.org/licenses/by/4.0/},
language ={en},
journal ={Business strategy and the environment},
year ={2020-01-09}
}