This paper examines the relationship between the level of integrated reporting (IR) based on the extent of adoption of the International Integrated Reporting Framework (IIRF) and the firm value (a proxy for value relevance of IR) in Sri Lanka, where the adoption of IR is a voluntary exercise. Using a comprehensive disclosure checklist, 117 integrated reports were content-analyzed, and then two regression models assessed the value relevance of IR disclosure. The study notes an increasing trend toward the adoption of IIRF in the preparation of integrated reports overall, as well as of each content element of IIRF. However, this rising trend has not significantly impacted the firm value by itself. Hence, this study’s findings do not support the enlightened stakeholder’s view on the subject of IR in Sri Lanka. Instead, it shows a significant positive relationship with the firm value when combined with the information on earnings (earnings per share), indicating that IIRF-compliant IR improves the value relevance of accounting information. This study offers insights for policymakers, professional accounting bodies, and practitioners on how investors make use of the information disclosed in integrated reports in their decision-making.

Purpose This paper aims to examine the coverage of and trends in reporting content elements in the integrated reports of the Sri Lankan companies following the International Integrated Reporting Framework (IIRF). Design/methodology/approach Based on a comprehensive checklist developed on the content elements of the IIRF, 171 corporate integrated reports were content-analyzed over a period of three years. The results were theorized subsequently using the legitimacy theory. Findings The study identifies that the extent of and trend in the coverage of content elements of the IIRF have increased during the period under consideration despite some under-addressed areas. It indicates that Sri Lankan companies are making progress in the preparation of integrated reports in line with the IIRF, which provides evidence in support of both strategic and institutional perspectives of the legitimacy theory because of the proactive actions taken by managers to acquire legitimacy along with the other normative and mimetic pressures available in the IR landscape. Originality/value This is one of the first studies that evaluate the compliance of IR adopters with the IIRF overtime in the entirety of a single country. It also develops a comprehensive index to capture the disclosure requirements of IR and extends the analysis to a voluntary context using both strategic and institutional perspectives of the legitimacy theory.

Purpose This paper aims to identify the usefulness of safety controls and accounting in corporate social sustainability management in response to various stakeholders’ demands and expectations in the mining sector. Design/methodology/approach The case study approach is followed in this study as it provides in-depth understanding of complex social phenomena. Data collection is mainly based on semi-structured interviews, on-site assessments and documentation reviews. Visits were repeated and cross-checked to ensure the validity of data collection and analysis. Findings The study identifies a reciprocal relationship between stakeholder management strategies and the safety control system that encapsulates a mix of leading and lagging key safety performance indicators (KSPIs). A safety control system with the right mix of KSPIs drives corporate value-creation by instigating internal organizational changes. Yet, the stakeholders’ expectations and pressures are dependent on national, historical, cultural and social settings and institutions that will impact on the safety controls and safety accounting in a substantial way. Originality/value The paper demonstrates the usefulness of safety controls and accounting in corporate stakeholder management in the mining sector in Sri Lanka. The paper, by addressing how safety control systems and accounting meet various stakeholder demands and expectations, provides new insights into corporate social sustainability performance in mining companies and the role and implications of sustainability (management) accounting.

This paper examines how technically oriented top managers use Management Accounting Systems (MASs) for organizational strategy implementation in the Sri Lankan manufacturing sector. Based on the Upper Echelon Theory (UET), the researchers argue that technically oriented top managers use MASs more interactively than diagnostically and prefer the use of innovative to traditional MAS information. Further, the researchers argue that technically oriented top managers support the implementation of prospector strategy as a result of their innovativeness. In order to achieve the objectives of the study a quantitative based approach was adopted. The hypotheses were developed and tested in a survey among the technically oriented top managers in the manufacturing sector in Sri Lanka. The researchers conducted a few in-depth interviews as well. The findings of the study confirmed that the technically oriented top managers prefer the interactive style in the use of MASs and also prefer to use innovative MAS information. The results also confirmed that technically oriented top managers prefer to adopt the prospector strategy. Further, the findings confirmed that the interactive style of using MASs and innovative MAS information strongly supports the adoption of prospector strategy. The findings confirmed the applicability of UET in the Sri Lankan manufacturing sector. The findings will also aid business organizations in preparing MAS information to complement prospector strategy implementation. The paper contributes to the existing literature on UET and the role of MASs in supporting strategy implementation particularly in a South Asian, Sri Lankan setting.

Motivated by the limited attention given to the impact of top management teams on Sustainable Development Goals (SDGs), this study sets out to identify the extent to which companies engage in SDG reporting and assess the impact of top management team diversity on SDG reporting based on the upper echelons theory. The data were collected by analyzing the sustainability reports of the listed entities over a three‐year period and conducting semistructured interviews. Findings show that the average disclosures related to SDGs are still at a deficient level and that top management team diversity does not have an impact on SDG reporting in Sri Lankan companies. The qualitative evidence shows that the existing corporate sustainability strategies have been aligned with SDGs, rather than being reformulated or designed to integrate with the SDG targets. Hence, in Sri Lanka, SDG reporting is limited by the superficial attention given to them in corporate strategies. This is a pioneering study that investigates the relationship between top management team diversity and SDG reporting using an explanatory sequential approach.

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Although there are numerous studies carried out to study the Balanced Scorecard (BSC) as a performance measurement system, there is a dearth of research studies on the post-implementation issues of BSC, especially in hotel industry in Sri Lanka. Therefore, this study attempts to address the research question of "Can the Balanced Scorecard be developed and implemented as an effective organizational performance measurement system in star-class hotels in Sri Lanka?" To address the objectives of the study, a mixed method research approach was adopted by utilizing multiple case studies. Five star-class hotels were selected as case studies, covering entire geographical area of the country. Data were gathered through documentation review; interviews with the top management; and a questionnaire administered among senior and middle level managers. The study found that hotels were more concerned about financial and customer perspectives when measuring hotel performance and a lower degree of attention was given to internal business perspective, and innovation and learning perspective. Further, interviews raised some important concerns, which need to be addressed when implementing BSC in the hotel sector in Sri Lanka.

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