Analyzing the determinants of non-financial information disclosure in the integrated report from the viewpoint of content elements: Evidence from Japan


This paper aims to conduct an exposition based on questionnaire data analysis. In relation to this, it investigates the relationship between the disclosure rate of non-financial measure components and the determinants that have an influence on management decision to disclose such components. The analysis categorizes non-financial components into content elements of the integrated report and focuses on four determinants such as managerial significance, the importance of measurement, measurement difficulties and the impact on financial figures. The investigation finds that, regarding governance and business model, the more emphasized it is in the managerial significance, the higher its disclosure rate becomes; although the disclosure rates of these elements are enormously high. On the other hand, companies with high managerial significance in the strategy and resource allocation turn out to be a low rate of its disclosure rate. In contrast, the strategy and resource allocation tends to be not disclosed when companies place the greater managerial significance of this element. Notwithstanding, the more impact of the strategy and resource allocation on financial figures these elements have, the more related information is conveyed as a signal. Besides, as regards the organizational overview, it is confirmed that companies who face measurement challenges tend to hold off disclosing this element.

Keywords: Integrated report; Non-financial information; Value Creation; Corporate Social Responsibility (CSR); Sustainability; Accountability

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