Integrated reporting as a strategy for firm growth: multiple case study in Colombia

Abstract

Purpose The purpose of this paper is to evaluate the implementation of the integrated reporting (IR) framework in a group of Colombian enterprises. Design/methodology/approach This is a multiple-case study in six enterprises that use the IR framework. The selected enterprises, all of which were located in either Bogota or Medellin, were Argos, EEB, EPM, ISA, Nutresa and Ocensa. The authors conducted individual interviews of reporters and performed a documentary analysis. Findings The few Colombian firms that use the IR framework all have ambitious expansion goals in the medium term. The main reason for the adoption of the IR framework in these firms is that it facilitates access to resources from new foreign investors. Research limitations/implications Since the framework was published recently, only a few Colombian firms follow it, and several of them do not apply all of its components. In the future, there will be more reports and a higher level of framework application. Practical implications In the firms studied, the IR framework is an important tool to support the search strategies of new sources of financial capital. Social implications If the use of the International Integrated Reporting Council (IIRC) framework were to diminish the application of the GRI, firms would be less likely to evaluate the impact of their activities on numerous stakeholders (other than shareholders). Originality/value This is the first Colombian study of IR to include both documentary analysis and personal interviews.

A practice theoretical analysis of the irrelevance of integrated reporting to mainstream sell‐side analysts

“…() show significant changes in organisational thinking resulting from the adoption of IR in the case organisations studied by them. Similarly, Macias and Farfan‐Lievano () find that integrated thinking leads to better alignment between risks and strategy and improvements in the organisational structure. Hence, Serafeim's () evidence does not conclusively confirm that it is better communication brought about by IR that is causing the change.…”

Integrated reporting: The mediating role of the board of directors and investor protection on managerial discretion in munificent environments

“…Integrated reporting, according to the IIRC (International Integrated Reporting Committee, , p. 8), provides a broader explanation of a firm's performance and highlights the following: (i) a firm's access to, dependence on, and use of resources; (ii) the impact such resources have; and (iii) the relationship between such resources and other forms of capital. Integrated reporting has recently been presented as a guide for organizations whose sustainability, financial and corporate governance reports are prepared separately by multiple contributors (Macias & Farfan‐Lievano, ).…”

“…Studies show that there has been an important emergence and interest in integrated reporting over the last few years (Azam, Warraich, & Awan, ; Reimsbach, Hahn, & Gürtürk, ; Serafeim, ; Setia, Abhayawansa, & Huynh, ; Zhou, Simnett, & Green, ). In previous literature, however, there are some papers that analyse the consequences of integrated reporting (Du Toi, ; Macias & Farfan‐Lievano, ), but the most relevant area of interest in academic research focuses on the determinants of integrated reporting (Frías‐Aceituno, Rodríguez‐Ariza, & García‐Sánchez, ; García‐Sánchez, Rodriguez‐Ariza, & Frías‐Aceituno, ; Sierra‐García, Zorio‐Grima, & García‐Benau, ).…”

CSR Communication Strategies of Colombian Business Groups: An Analysis of Corporate Reports

“…Despite this growth, the literature evidences no studies dealing with CSR practices and SR in Colombian BG; thus, the call made by Aguilera and Crespi-Cladera [33] to study CSR in BG gains is also important in this institutional context. However, previous studies such as Gómez-Villegas and Quintanilla [34], Correa-García et al [35] and Macias and Farfan-Lievano [36] demonstrate interest in examining voluntary disclosure practices in Colombia. Although they have not been explicitly oriented toward the issue of BGs and their particularities, some of the companies included in these papers exhibit the characteristics of BGs.…”