Volltext-Downloads (blau) und Frontdoor-Views (grau)

Voluntary adopters of integrated reporting – evidence on forecast accuracy and firm value

  • This study investigates how integrated reporting (IR) creates value for investors. It examines how providers of financial capital benefit from an improved firm information environment provided by IR. Specifically, this study investigates the effect of voluntary IR disclosure on analyst earnings forecast accuracy as well as on firm value. To do so, we use an international sample of 167 listed companies that voluntarily publish an integrated report. Our analysis shows no significant effect of a voluntary IR publication on analyst earnings forecast accuracy and no significant effect on firm value. We thus do not find evidence for the fulfillment of IR's promises regarding improved information environment and value creation of voluntary adopters. We conclude that such companies might already have a relatively high level of transparency leading to an absent additional effect of IR disclosure. Positive effects of IR appear to be more relevant in environments where IR is mandatory.

Download full text files

Export metadata

Additional Services

Share in Twitter Search Google Scholar


Author of HS ReutlingenCharifzadeh, Michel
Erschienen in:Business strategy and the environment
Place of publication:New York
Document Type:Journal article
Publication year:2020
Tag:ESG; firm value; forecast error; information asymmetry; integrated reporting
Page Number:15
First Page:2542
Last Page:2556
DDC classes:330 Wirtschaft
Open access?:Ja
Licence (German):License Logo  Creative Commons - CC BY - Namensnennung 4.0 International