Do nonprofessional investors value the assurance of integrated reports? Exploratory evidence

Gerwanski, Jannik; Velte, Patrick; Mechtel, Mario

doi:10.1016/j.emj.2021.03.003

Cited by 15 publications

(37 citation statements)

References 130 publications

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“…= 0.001). This result is consistent with prior research (Frank et al, 2019;Gerwanski et al, 2021;Hoang & Trotman, 2021) which emphasized the added value of independent assurance report and its positive impact on investment attractiveness and decisions.…”

Section: Added Value Of Assurance On Willingness To Invest and Stock Valuationsupporting

confidence: 92%

“…Consistent with the findings related to the first research hypothesis, the positive impact of assurance quality on investors' stock valuation is consistent with the source credibility and signaling theories and with the findings of prior studies (Mock et al, 2007;Clarkson et al, 2019) which emphasized the higher nonfinancial assurance quality services offered by Big4 auditing firms. Also, this result is in contrast to that of Shen et al, (2017) and that of Gerwanski et al (2021), who didn't find significant effect of choosing one of the Big4 audit firms as an assurance provider on the investment decisions made by non-professional investors.…”

Section: Testing H2contrasting

confidence: 91%

“…The above result is consistent with the findings of prior research (Vera-Muñoz et al, 2020;Gerwanski et al, 2021) which emphasized the positive impact of high and reasonable assurance level offered on nonfinancial disclosures, such as GHG emissions and integrated reports on non-professional investors' decisions. As reasonable assurance is a higher level one and to reach such level of assurance, the assuror should have exerted more efforts (in comparison to that of limited assurance) and collected more evidence.…”

Section: As Shown In Table (supporting

confidence: 91%

“…On the other side, this result is not consistent with the findings of (Shen et al, 2017;Gerwanski et al, 2021), which didn't find evidence that the choice of assurance provider will affect the investment decisions made by non-professional investors. However, consistent with expectations, this result emphasized the enhanced audit quality and assurance services offered by Big4 audit firms, as Big4 audit firms are known for their good reputation, access to international standards, expertise in non-financial assurance and ability to attract good competencies and experts.…”

Section: Testing H1contrasting

confidence: 87%

“…Applying on integrated reports, Gerwanski et al (2021) examined the impact of assurance level on investors' decisions. Based on a sample of 142 master students in three German universities and 82 managers, the authors found evidence that reasonable assurance is having a positive and significant effect on investment decisions taken by non-professional investors.…”

Section: Impact Of Assurance Level On Investors' Decisionsmentioning

confidence: 99%

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أثر جودة ومستوى التوکید على برنامج إدارة مخاطر الأمن السیبرانی على قرارات المستثمرین المصریین غیر المحترفین: دراسة تجریبیة (باللغة الانجلیزیة)

بدوي¹

2021

مجلة الاسکندریة للبحوث المحاسبیة

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The objective of this study is to examine and analyze the impact of assurance quality (measured by the size of the audit firm performing this assurance; Big4 auditor vs. non-Big4) and assurance level (reasonable vs. limited assurance) on cybersecurity risk management program on non-professional investors' willingness to invest and their stock valuation. To fulfil the research objective, a 2X2 between-subjects experiment was designed to test the research hypotheses.Based on a sample of 64 MBA and postgraduate students in the Faculty of Commerce, Alexandria University and ESLSCA University, the researcher found evidence that high assurance quality (Big4 auditor) and reasonable assurance level conveyed in the assurance report on cybersecurity risk management program have a significant and positive effect on investors' willingness to invest and their stock valuation. However, the researcher didn't find significant difference in investors' willingness to invest or their stock valuation in case a limited assurance report is offered by a Big4 audit firm in comparison with the case of a reasonable assurance report offered by a non-Big4 audit firm. This study adds an experimental evidence to the literature on non-audit services and cybersecurity and will help in reducing the accounting research gap related to cybersecurity risk management program, which is consistent with the Egyptian government's efforts and attention paid to cybersecurity and its related risks.

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Section: Added Value Of Assurance On Willingness To Invest and Stock Valuationsupporting

confidence: 92%

Section: Testing H2contrasting

confidence: 91%

Section: As Shown In Table (supporting

confidence: 91%

Section: Testing H1contrasting

confidence: 87%

Section: Impact Of Assurance Level On Investors' Decisionsmentioning

confidence: 99%

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أثر جودة ومستوى التوکید على برنامج إدارة مخاطر الأمن السیبرانی على قرارات المستثمرین المصریین غیر المحترفین: دراسة تجریبیة (باللغة الانجلیزیة)

بدوي¹

2021

مجلة الاسکندریة للبحوث المحاسبیة

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Framing the evolution of the “environmental strategy” concept: Exploring a key construct for the environmental policy agenda

2022

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In this paper, we develop a quantitative review of the evolution of the concept of environmental strategy. We show how it has formed the backbone of the development of firm strategy and the natural environment as a research tradition and how consensus regarding it has evolved in the academic community during the stages of its historical evolution. We us co-word analyses to address changes in the structure of its definitional landscape and how it has evolved through the analysis of centrality of its core and periphery keywords. Furthermore, we develop, by the first time, a cluster analysis to identify the main definitional factors behind definitions along the two periods analyzed. Finally, four propositions for future development and a consensual definition of environmental strategy are proposed.

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Walking the talk, but above all, talking the walk: Looking green for market stakeholder engagement

Amores‐Salvadó

Castro

Albertini

2022

Corp Soc Responsibility Env

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In recent years, corporate environmental commitment is showing different postures going from greenwashing to undue modesty and from environmental excellence to environmental inaction. In this paper, we go a step beyond the most recent research work on the dichotomy greenwashing-brownwashing and develop a more comprehensive model that reflect more subtly four main corporate environmental strategic positions based on both firm's environmental performance and disclosure achievements. Jointly with their characterization, and adopting a question-driven approach we add to the literature on environmental disclosure-firm performance proposing an explorative research question that consider cluster membership on market firm performance under the general assumption that, at least theoretically, each of the four main corporate environmental strategic positions under analysis can result in market performance improvements. Our empirical results from a panel data of international industrial companies show very interesting and novel insights, highlighting the fact that being green is good, but above all, it is good to look green.

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Do nonprofessional investors value the assurance of integrated reports? Exploratory evidence

Cited by 15 publications

References 130 publications

أثر جودة ومستوى التوکید على برنامج إدارة مخاطر الأمن السیبرانی على قرارات المستثمرین المصریین غیر المحترفین: دراسة تجریبیة (باللغة الانجلیزیة)

أثر جودة ومستوى التوکید على برنامج إدارة مخاطر الأمن السیبرانی على قرارات المستثمرین المصریین غیر المحترفین: دراسة تجریبیة (باللغة الانجلیزیة)

Framing the evolution of the “environmental strategy” concept: Exploring a key construct for the environmental policy agenda

Walking the talk, but above all, talking the walk: Looking green for market stakeholder engagement

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