Does intellectual capital disclosure affect the cost of equity capital? An empirical analysis in the integrated reporting context

Salvi, Antonio; Vitolla, Filippo; Raimo, Nicola; Rubino, Michele; Petruzzella, Felice

doi:10.1108/jic-12-2019-0283

Cited by 55 publications

(40 citation statements)

References 134 publications

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“…Furthermore, IR aims to ‘enhance accountability and stewardship for the broad base of capitals (financial, manufactured, intellectual, human, social and relationship, and natural) and promote understanding of their interdependencies’ (IIRC, 2013, p. 2). Given the focus on the role of intangibles (Vitolla, Raimo, & Rubino, 2019b, Vitolla, Raimo, Marrone, & Rubino, 2020; Salvi, Vitolla, Giakoumelou, Raimo, & Rubino, 2020; Salvi, Vitolla, Raimo, Rubino, & Petruzzella, 2020) and the orientation towards the past, present and future (Abeysekera, 2013), IR allows the limits of financial disclosure to be overcome (Adams & Simnett, 2011).…”

Section: Introductionmentioning

confidence: 99%

Do audit committee attributes influence integrated reporting quality? An agency theory viewpoint

et al. 2020

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The limits of financial disclosure in meeting the investors' needs have led to the request for reporting frameworks capable of incorporating information of different nature. Integrated reporting (IR), which is the latest novelty in organisational reporting practice, promises to bring together material financial and non‐financial information. IR has received considerable academic attention in recent years. However, little attention has been paid to the role of the audit committee in IR processes, despite the influence that this body has on disclosure, thanks to its supervisory and monitoring functions. This study bridges this gap by analysing the effect of the audit committee attributes on integrated reporting quality (IRQ) from an agency theory perspective. The regression analysis, conducted on a sample of 125 international firms, demonstrated a positive effect of size, independence and meeting frequency of the audit committee on IRQ and a non‐significant effect of financial expertise.

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Section: Introductionmentioning

confidence: 99%

Do audit committee attributes influence integrated reporting quality? An agency theory viewpoint

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“…In addition, Ref. [18] indicated that intellectual capital disclosure levels have a significantly negative association with the cost of equity capital. Moreover, Ref.…”

Section: Introductionmentioning

confidence: 99%

Dynamic Capabilities and Their Impact on Intellectual Capital and Innovation Performance

et al. 2021

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There is a high tendency for conversion from a statistical economy based on measuring tangible assets into investigating non-tangible capital drive in the present economic status worldwide. The implications of intellectual capital on innovation performance have widely attracted attention among researchers in the global arena. The present study investigated the impacts of intellectual capital on innovation performance in the banking sector as influencing non-tangible assets. Besides, the role of dynamic capabilities in moderating the relationship between intellectual capital and innovation performance was examined. A purposive sampling technique was applied to 364 participants from Iraqi commercial banks as the research context. Thereafter, structural equation modelling (SEM) was utilised to analyse the collected data from the survey questionnaire using SPSS.v25 and AMOS.v24. The study found that the employees’ levels of intellectual capital significantly increased toward innovativeness through the moderating role of dynamic capabilities between intellectual capital and innovation performance in the commercial banking sector for better competitive advantages. Consequently, the study provides valuable insights and guidance for academicians and practitioners on the impacts of developing intellectual capital on enhancing competitive performance, especially in the context of Iraqi commercial banks.

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“…The advent of integrated reporting has driven several researchers to examine information related to intangibles within integrated reports (Vitolla et al, 2019a;Salvi et al, 2020). However, these studies have analyzed IC in general and have not focused specifically on HC information.…”

Section: Introductionmentioning

confidence: 99%

Factors affecting human capital disclosure in an integrated reporting perspective

Ricciardelli

Rubino

Vitolla

2020

MBE

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Purpose Human capital (HC) represents a particularly important element capable of guiding the firms’ value creation process in the new economy. The purpose of this study is to analyze the level of HC information contained within integrated reports and to identify the variables that influence the HC disclosure policies of companies. Design/methodology/approach Research hypotheses, developed on the basis of agency theory, were tested using a regression model on a sample of 137 worldwide companies. A HC disclosure index was designed to examine the level of HC disclosure and a content analysis was used to investigate the integrated reports. Findings Results showed a positive and significant impact of firm size, board size, board independence and board diversity on the level of HC information disclosed by companies within their integrated reports. On the contrary, they demonstrated a not significant effect of firm profitability. Practical implications Results have important implications for corporate executives, high-level corporate governance, policymakers and investors. They point out additional further motivations for creating larger boards and including non-executive members and women on the board. In addition, investors could use the HC disclosure index to evaluate companies’ HC disclosure policies in their investment decisions. Originality/value This study extends the agency theory application scope and extends the analysis of HC disclosure to other corporate documents, namely, integrated reports. Besides, it increases knowledge about the factors capable of influencing HC disclosure, identifying a series of elements capable of directly affecting the level of information that companies disclose.

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Does intellectual capital disclosure affect the cost of equity capital? An empirical analysis in the integrated reporting context

Cited by 55 publications

References 134 publications

Do audit committee attributes influence integrated reporting quality? An agency theory viewpoint

Do audit committee attributes influence integrated reporting quality? An agency theory viewpoint

Dynamic Capabilities and Their Impact on Intellectual Capital and Innovation Performance

Factors affecting human capital disclosure in an integrated reporting perspective

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