Dragu Ioana
PhD. Ioana- Maria Dragu obtained her doctoral diploma in accounting and audit in July 2015, after four years of research on integrated reporting- the topic of her thesis. She published many papers, studies and book chapters in the field of corporate social responsibility, sustainability, and integrated reporting. Currently she continues her research in the sphere of integrated reports, as a research assistant of the accounting and audit department, within the Faculty of Economics and Business Administration, Babes- Bolyai University, Cluj- Napoca, Romania.
Supervisors: PhD. Full Professor Tiron-Tudor Adriana
Supervisors: PhD. Full Professor Tiron-Tudor Adriana
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expected to reassess their strategy for information disclosure. Within a global economic
environment that is continuously evolving, there is a strong need for an internationally coordinated
action as the financial and non-financial information disclosed by a company influences its
strategic decisions. The topic of the current paper outlines the issue of integrated reporting as the
interconnection between financial, social and environmental information. We intend to investigate
the influence of financial performance on social and environmental disclosure and measure the
integration level of corporations that claim to publish integrated reports. The main stages of the
research involve the determination of financial ratios and disclosure index levels for environmental
and social information. For the purpose of establishing the disclosure index we consider the
referential of GRI G3 international standards, while compliance with the standard would be the
prerequisite for integrated reports, by contributing to an increase in non-financial disclosure, in
addition to the mandatory financial one. Our sample comprises 16 Asian-Pacific companies that
participate in the pilot program initiated by the International Integrated Reporting Committee
according to which organizations are encouraged to integrate their non-financial information -
social and environmental disclosure - within annual reports, along with financial data. The
research methodology assumes computation of a disclosure index for social and environmental
information, and determination of financial ratios for establishing the influence of financial
performance on socio-environmental disclosure and the actual level of integration in specific
integrated reports. Our findings suggest the financial ratios can be directly, indirectly, and noncorrelated
with non-financial information, while the integration process is attained at high,
medium, or low levels, according to the aggregation of financial, social, and environmental
information.
trends of the 21st century. Integrated reporting has been launched through a
common initiative of the International Integrated Reporting Committee and global
accounting organizations. However, the history of integrated reports starts before
the initiative of the IIRC, and goes back in time when large corporations begun to
disclose sustainability and corporate social responsibility information. Further on,
we claim that the initial sustainability and CSR reports that were issued separate
along with the financial annual report represent the predecessors of the current
integrated reports. The paper consists of a literature review analysis on the evolution
of integrated reporting, from the first stage of international non-financial initiatives,
up to the current state of a single integrated annual report. In order to understand
the background of integrated reporting we analyze the most relevant research
papers on corporate reporting, focusing on the international organizations’
perspective on non-financial reporting, in general, and integrated reporting, in
particular. Based on the literature overview, we subtracted the essential information
for setting the framework of the integrated reporting evolution. The findings suggest
that we can delimitate three main stages in the evolution of integrated reports,
namely: the non-financial reporting initiatives, the sustainability era, and the
revolution of integrated reporting. We illustrate these results by presenting each
relevant point in the history of integrated reporting on a time scale axis, developed
with the purpose of defining the road to integrated reporting at theoretical, empirical,
and practical levels. We consider the current investigation as relevant for future
studies concerning integrated reports, as this is a new area of research still in its
infancy. The originality of the research derives from the novelty of integrated
reporting, and the aim to explain its origin, which is important to know if we want to
understand the present and the future of corporate reporting.
companies as well as GRI and CSR practices adoption, and the level of sustainability disclosure.
The correlation is highlighted through SPSS statistic analysis and determination of an
econometric model between a dependent variable - sustainability information disclosure - and
five independent ones- sales, number of employees, GRI and CSR policies and ultimately
reporting period/year -. We use the Deloitte Sustainability Scorecard for measuring the
sustainability reporting practices. Our sample comprises companies that adopted integrated
reporting for the period 2009-2010. Sample selection was made on the basis that sustainability
reports are incorporated within the integrated reports. We assume to obtain a high correlation
between the business and organizational size of companies, GRI and/or CSR polities and the
level of sustainability information disclosed in our integrated reports.
include the following elements within their annual reports: accounting policies adopted by the
firms, value of capitalization for borrowing costs and capitalization rate. This paper involves an
empirical research, presenting the correlation that might exist at the level of compliance with IAS
23 and specific variables that characterize the activity of a company. The purpose of our
investigation is to estimate and determine a statistic function that should connect disclosure index
measured for IAS 23 requests and a series of elements, namely: country of origin, total assets,
turnover, ROA, ROE, debt rate and solvency. The research methodology assumes disclosure index
determination and SPSS analysis. The findings suggest evidence of correlation with respect to the
level of compliance in information disclosure and the mentioned variables.
harmonization, by measuring the degree in which different companies from Europe use same
methods when reporting their intangible assets. Therefore, the objective of the research is to
demonstrate the existence of harmonizing tendencies between European Union member states, as a
result of IFRS adoption. The methodology implies Herfindahl Index computation for a sample of 51
listed companies that develop their activity in five European countries. The results suggest the
influence of International Financial Reporting Standards on accounting practices, as there is
evidence of high harmonization level for intangible assets. Many of the analysed situations
recorded if not maximum harmonizing values at least visible tendencies to harmonize accounting
practices.
accounting research field. It comprises an empirical study on the correlation between information
published by companies in consolidated financial statements with respect to borrowing cost policies
and a series of variables that characterize a firm. The objectives of this paper involve estimating
and establishing an econometric model in which is assumed that disclosure index for information
required by IAS 23 depends on certain elements in the form of country of origin, sales, total assets,
debt ratio, solvency, ROA and ROE. International accounting literature presents a series of studies
on the subject of compliance with IAS disclosure requirements. Similar with this paper, various
authors considered annual reports as starting point for data gathering in their reasearch on
disclosure phenomena. The criteria used for data gathering, processing and analysing have been
previously used in a successful manner by important scientists who published in accounting field.
The methodology used involves Disclosure Index computation, as well as SPSS data processing,
analysis and interpretation. Results show that the model is valid, meaning that there is correlation
between information disclosure with respect to IAS 23 and the analyzed variables. According to our
estimated econometric model, most of the variables maintain a certain influence on disclosure as we
can observe a significant correlation level between the studied elements. This research contributes
to the development of both accounting field and international accounting literature, by studying
borrowing costs disclosed information in relation to certain elements that best characterize the
activity of a company. Although an empirical paper, it concentrates also on accounting practices, as
it uses real data extracted from annual reports and consolidated financial statements. The
importance of this research relies in its originality approach, by studying the information disclosure
for borrowing costs that represent one of the most important accounting fields.
accounting standards continue to represent a goal for IASB and FASB, being far from the stage
of practical implementation. More than that, the financial crisis made things worse, as it
contributes to the unfavourable conditions for the development of convergence process. But
despite all these negative elements, FASB and IASB continue to collaborate in obtaining a single
set from the two distinct accounting regulations, which can serve for practical accounting
purposes. The globalization phenomena imply the existence of a unique set of financial reporting
standards. Thus, accounting diversity is to be reduced at international level, so that it would be in
accordance with companies’ interests. Therefore, one can state the importance of harmonizing
both national and international accounting regulations.
expected to reassess their strategy for information disclosure. Within a global economic
environment that is continuously evolving, there is a strong need for an internationally coordinated
action as the financial and non-financial information disclosed by a company influences its
strategic decisions. The topic of the current paper outlines the issue of integrated reporting as the
interconnection between financial, social and environmental information. We intend to investigate
the influence of financial performance on social and environmental disclosure and measure the
integration level of corporations that claim to publish integrated reports. The main stages of the
research involve the determination of financial ratios and disclosure index levels for environmental
and social information. For the purpose of establishing the disclosure index we consider the
referential of GRI G3 international standards, while compliance with the standard would be the
prerequisite for integrated reports, by contributing to an increase in non-financial disclosure, in
addition to the mandatory financial one. Our sample comprises 16 Asian-Pacific companies that
participate in the pilot program initiated by the International Integrated Reporting Committee
according to which organizations are encouraged to integrate their non-financial information -
social and environmental disclosure - within annual reports, along with financial data. The
research methodology assumes computation of a disclosure index for social and environmental
information, and determination of financial ratios for establishing the influence of financial
performance on socio-environmental disclosure and the actual level of integration in specific
integrated reports. Our findings suggest the financial ratios can be directly, indirectly, and noncorrelated
with non-financial information, while the integration process is attained at high,
medium, or low levels, according to the aggregation of financial, social, and environmental
information.
trends of the 21st century. Integrated reporting has been launched through a
common initiative of the International Integrated Reporting Committee and global
accounting organizations. However, the history of integrated reports starts before
the initiative of the IIRC, and goes back in time when large corporations begun to
disclose sustainability and corporate social responsibility information. Further on,
we claim that the initial sustainability and CSR reports that were issued separate
along with the financial annual report represent the predecessors of the current
integrated reports. The paper consists of a literature review analysis on the evolution
of integrated reporting, from the first stage of international non-financial initiatives,
up to the current state of a single integrated annual report. In order to understand
the background of integrated reporting we analyze the most relevant research
papers on corporate reporting, focusing on the international organizations’
perspective on non-financial reporting, in general, and integrated reporting, in
particular. Based on the literature overview, we subtracted the essential information
for setting the framework of the integrated reporting evolution. The findings suggest
that we can delimitate three main stages in the evolution of integrated reports,
namely: the non-financial reporting initiatives, the sustainability era, and the
revolution of integrated reporting. We illustrate these results by presenting each
relevant point in the history of integrated reporting on a time scale axis, developed
with the purpose of defining the road to integrated reporting at theoretical, empirical,
and practical levels. We consider the current investigation as relevant for future
studies concerning integrated reports, as this is a new area of research still in its
infancy. The originality of the research derives from the novelty of integrated
reporting, and the aim to explain its origin, which is important to know if we want to
understand the present and the future of corporate reporting.
companies as well as GRI and CSR practices adoption, and the level of sustainability disclosure.
The correlation is highlighted through SPSS statistic analysis and determination of an
econometric model between a dependent variable - sustainability information disclosure - and
five independent ones- sales, number of employees, GRI and CSR policies and ultimately
reporting period/year -. We use the Deloitte Sustainability Scorecard for measuring the
sustainability reporting practices. Our sample comprises companies that adopted integrated
reporting for the period 2009-2010. Sample selection was made on the basis that sustainability
reports are incorporated within the integrated reports. We assume to obtain a high correlation
between the business and organizational size of companies, GRI and/or CSR polities and the
level of sustainability information disclosed in our integrated reports.
include the following elements within their annual reports: accounting policies adopted by the
firms, value of capitalization for borrowing costs and capitalization rate. This paper involves an
empirical research, presenting the correlation that might exist at the level of compliance with IAS
23 and specific variables that characterize the activity of a company. The purpose of our
investigation is to estimate and determine a statistic function that should connect disclosure index
measured for IAS 23 requests and a series of elements, namely: country of origin, total assets,
turnover, ROA, ROE, debt rate and solvency. The research methodology assumes disclosure index
determination and SPSS analysis. The findings suggest evidence of correlation with respect to the
level of compliance in information disclosure and the mentioned variables.
harmonization, by measuring the degree in which different companies from Europe use same
methods when reporting their intangible assets. Therefore, the objective of the research is to
demonstrate the existence of harmonizing tendencies between European Union member states, as a
result of IFRS adoption. The methodology implies Herfindahl Index computation for a sample of 51
listed companies that develop their activity in five European countries. The results suggest the
influence of International Financial Reporting Standards on accounting practices, as there is
evidence of high harmonization level for intangible assets. Many of the analysed situations
recorded if not maximum harmonizing values at least visible tendencies to harmonize accounting
practices.
accounting research field. It comprises an empirical study on the correlation between information
published by companies in consolidated financial statements with respect to borrowing cost policies
and a series of variables that characterize a firm. The objectives of this paper involve estimating
and establishing an econometric model in which is assumed that disclosure index for information
required by IAS 23 depends on certain elements in the form of country of origin, sales, total assets,
debt ratio, solvency, ROA and ROE. International accounting literature presents a series of studies
on the subject of compliance with IAS disclosure requirements. Similar with this paper, various
authors considered annual reports as starting point for data gathering in their reasearch on
disclosure phenomena. The criteria used for data gathering, processing and analysing have been
previously used in a successful manner by important scientists who published in accounting field.
The methodology used involves Disclosure Index computation, as well as SPSS data processing,
analysis and interpretation. Results show that the model is valid, meaning that there is correlation
between information disclosure with respect to IAS 23 and the analyzed variables. According to our
estimated econometric model, most of the variables maintain a certain influence on disclosure as we
can observe a significant correlation level between the studied elements. This research contributes
to the development of both accounting field and international accounting literature, by studying
borrowing costs disclosed information in relation to certain elements that best characterize the
activity of a company. Although an empirical paper, it concentrates also on accounting practices, as
it uses real data extracted from annual reports and consolidated financial statements. The
importance of this research relies in its originality approach, by studying the information disclosure
for borrowing costs that represent one of the most important accounting fields.
accounting standards continue to represent a goal for IASB and FASB, being far from the stage
of practical implementation. More than that, the financial crisis made things worse, as it
contributes to the unfavourable conditions for the development of convergence process. But
despite all these negative elements, FASB and IASB continue to collaborate in obtaining a single
set from the two distinct accounting regulations, which can serve for practical accounting
purposes. The globalization phenomena imply the existence of a unique set of financial reporting
standards. Thus, accounting diversity is to be reduced at international level, so that it would be in
accordance with companies’ interests. Therefore, one can state the importance of harmonizing
both national and international accounting regulations.