The adoption of international sustainability and integrated reporting guidelines within a mandatory reporting framework: lessons from South Africa

被引:36
作者
Wachira, Mumbi Maria [1 ]
Berndt, Thomas [2 ]
Romero, Carlos Martinez [3 ]
机构
[1] Strathmore Univ, Business Sch, Nairobi, Kenya
[2] Univ St Gallen, Inst Publ Finance Finance Law & Econ, St Gallen, Switzerland
[3] Univ St Gallen, St Gallen, Switzerland
关键词
South Africa; Integrated reporting; Sustainability reporting; King III report; ENVIRONMENTAL DISCLOSURE; CORPORATE GOVERNANCE; DETERMINANTS; PERFORMANCE; MARKETS; RESPONSIBILITY; FIRM; MYTH;
D O I
10.1108/SRJ-12-2018-0322
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
Purpose This study aims to explore factors influencing voluntary adoption of international sustainability and integrated reporting guidelines within a mandatory reporting framework. Given South Africa's political history, the authors argue that accounting practice can be used to secure the legitimacy and transparency of businesses. Design/methodology/approach Two logistic regression equations are used to predict the likelihood of firms' subscribing to either Global Reporting Initiative (GRI) or the Integrated Reporting (<IR>) framework, respectively. The authors consider annual, sustainability and integrated reports issued for the financial year ended 2014. Findings The results show a statistically and significant positive association between the adoption of the GRI's guidelines and the level of transparency of non-financial disclosures and environmental sensitiveness. The application of the <IR> framework is also associated with the level of a firm's transparency score and with its respective analyst following, which acts as a measure for capital markets requiring a high information environment. Originality/value This paper illustrates the development of integrated and sustainability reporting (SR) practices within an emerging market. By drawing distinctions between locally developed South African codes of corporate governance, namely, King I-III and international guidelines proxied by the GRI's guidelines for SR, and the <IR> framework, the authors show that South African firms still adopt international guidelines despite the mandatory framework in place.
引用
收藏
页码:613 / 629
页数:17
相关论文
共 82 条
[1]   A template for integrated reporting [J].
Abeysekera, Indra .
JOURNAL OF INTELLECTUAL CAPITAL, 2013, 14 (02) :227-+
[2]  
ACCA, 2014, STOCK EXCH SUBS AFR
[3]   The International Integrated Reporting Council: A call to action [J].
Adams, Carol A. .
CRITICAL PERSPECTIVES ON ACCOUNTING, 2015, 27 :23-28
[4]  
Amran Azlan, 2014, Strategic Direction, V30, P38, DOI 10.1108/SD-03-2014-0035
[5]   Understanding Corporate Governance Reform in South Africa: Anglo-American Divergence, the King Reports, and Hybridization [J].
Andreasson, Stefan .
BUSINESS & SOCIETY, 2011, 50 (04) :647-673
[6]  
[Anonymous], 2011, J PEDIAT HLTH CARE, V25, pA9
[7]  
[Anonymous], KPMG INT RESP REP 20
[8]  
[Anonymous], 2011, CSR INDEX 2011
[9]   THE NATURAL ENVIRONMENTAL STRATEGIES OF INTERNATIONAL FIRMS: OLD CONTROVERSIES AND NEW EVIDENCE ON PERFORMANCE AND DISCLOSURE [J].
Aragon-Correa, J. Alberto ;
Marcus, Alfred ;
Hurtado-Torres, Nuria .
ACADEMY OF MANAGEMENT PERSPECTIVES, 2016, 30 (01) :24-39
[10]   Corporate Sustainability Reporting: A Study in Disingenuity? [J].
Aras, Gueler ;
Crowther, David .
JOURNAL OF BUSINESS ETHICS, 2009, 87 :279-288