Business model (Bm) refers to how companies create value by mean of their resources and capabilities [Teece 2010]. Regulators are discussing the incorporation of this concept in corporate reporting, allowing investors to have access to information that are not provided through traditional financial reports. Indeed, «high-quality Bm reporting is critical to helping investors better understand performance in terms of the impact external factors have on an organisation, and how organisations create value that is sustainable over time» [Cima 2013]. Previous studies show that the quality of business model disclosure (Bmd) is poor, characterized by the description of highly generic features and the use of a non-specific language [Page 2014]. The International Integrated Reporting Council (Iirc) aims to overcome these limitations by mean of an innovative form of reporting called «Integrated Report» (Ir). In spite of its largely voluntary nature, the interest on Ir is significant: more than 100 of firms have joined the Iirc «pilot programme» on Ir since its launch in 2012.The aim of this study is to understand the role that Ir plays in fostering Bmd: we develop a framework of analysis of the quality of the Bmd and apply it to the population of European (Eu) IR adopters. In this respect, we draw on previous studies proposing methodological frameworks on disclosure quality (Dq) based on both disclosure topics and disclosure attributes.
The Quality of Business Model Disclosure in the “Integrated Report” of European Early Adopters
LAI, Alessandro;STACCHEZZINI, Riccardo
2015-01-01
Abstract
Business model (Bm) refers to how companies create value by mean of their resources and capabilities [Teece 2010]. Regulators are discussing the incorporation of this concept in corporate reporting, allowing investors to have access to information that are not provided through traditional financial reports. Indeed, «high-quality Bm reporting is critical to helping investors better understand performance in terms of the impact external factors have on an organisation, and how organisations create value that is sustainable over time» [Cima 2013]. Previous studies show that the quality of business model disclosure (Bmd) is poor, characterized by the description of highly generic features and the use of a non-specific language [Page 2014]. The International Integrated Reporting Council (Iirc) aims to overcome these limitations by mean of an innovative form of reporting called «Integrated Report» (Ir). In spite of its largely voluntary nature, the interest on Ir is significant: more than 100 of firms have joined the Iirc «pilot programme» on Ir since its launch in 2012.The aim of this study is to understand the role that Ir plays in fostering Bmd: we develop a framework of analysis of the quality of the Bmd and apply it to the population of European (Eu) IR adopters. In this respect, we draw on previous studies proposing methodological frameworks on disclosure quality (Dq) based on both disclosure topics and disclosure attributes.File | Dimensione | Formato | |
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