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Corporate reporting metamorphosis: empirical findings from state-owned enterprises

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  • Giuseppe Nicolo
  • Gianluca Zanellato
  • Francesca Manes-Rossi
  • Adriana Tiron-Tudor

Abstract

Grounded in legitimacy theory, this paper contributes to the study of integrated reporting (IR) practices in the public sector, focusing on state-owned enterprises (SOEs)—organizations situated at the boundary between the public and private sector. The findings demonstrate a fair degree of compliance with IR framework (IRF) requirements and identify size, social and environmental sensitivity and conciseness as relevant determinants. Empirical research on IR in the public sector has, to date, been minimal.The level of compliance by European state-owned enterprises (SOEs) with the integrated reporting framework (IRF) is investigated in this paper. Possible determinants of levels of disclosure are also explored. The results show high compliance by large entities, as well as by organizations in environmental and socially sensitive sectors in respect to issues traditionally disclosed in financial reporting. However, there is still limited disclosure of forward-looking content elements. Standard setters and policy-makers might consider these results as a stimulus to develop specific guidelines to support the preparation of more holistic reports by public sector entities and specifically SOEs.

Suggested Citation

  • Giuseppe Nicolo & Gianluca Zanellato & Francesca Manes-Rossi & Adriana Tiron-Tudor, 2021. "Corporate reporting metamorphosis: empirical findings from state-owned enterprises," Public Money & Management, Taylor & Francis Journals, vol. 41(2), pages 138-147, February.
    • Handle: RePEc:taf:pubmmg:v:41:y:2021:i:2:p:138-147
    DOI: 10.1080/09540962.2020.1719633
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    Cited by:

    1. Andrea Venturelli & Simone Pizzi & Fabio Caputo & Salvatore Principale, 2020. "The revision of nonfinancial reporting directive: A critical lens on the comparability principle," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3584-3597, December.
    2. Yanqi Sun & Pui San Ip & Michael Jones & Jenny Jing Wang & Yi An, 2021. "Determinants of Animal Welfare Disclosure Practices: Evidence from China," Sustainability, MDPI, vol. 13(4), pages 1-16, February.
    3. Yanqi Sun, 2023. "Can the innovation in sustainability disclosures reflect organisational sustainable development? An integrated reporting perspective from China," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(3), pages 1668-1680, June.
    4. Ligorio, Lorenzo & Caputo, Fabio & Venturelli, Andrea, 2022. "Sustainability disclosure and reporting by municipally owned water utilities," Utilities Policy, Elsevier, vol. 77(C).
    5. Lorenzo Gelmini & Valentina Minutiello & Patrizia Tettamanzi & Maurizio Comoli, 2021. "Rhetoric, Accounting and Accountability: COVID-19 and the Case of Italy," Sustainability, MDPI, vol. 13(8), pages 1-21, April.
    6. Bauer, Philumena & Traxler, Albert Anton & Greiling, Dorothea, 2023. "Management control by municipal utilities for value creation to achieve the sustainable development goals," Utilities Policy, Elsevier, vol. 84(C).
    7. Cristina Alexandrina Stefanescu, 2021. "Sustainability Reporting in the Public Realm—Trends and Patterns in Knowledge Development," Sustainability, MDPI, vol. 13(8), pages 1-23, April.
    8. Thamir Al Barrak & Kaouther Chebbi & Abdullah A. Aljughaiman & Mohammed Albarrak, 2023. "Exploring the Interplay between Sustainability and Debt Costs in an Emerging Market: Does Financial Distress Matter?," Sustainability, MDPI, vol. 15(12), pages 1-19, June.
    9. Valenza, Giuseppe & Damiano, Rodolfo, 2023. "Sustainability reporting and public value: Evidence from port authorities," Utilities Policy, Elsevier, vol. 81(C).

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