The level of compliance with the Italian Legislative Decree No. 254/2016 and its determinants: Insights from Italy

By | 2019-09-27T10:36:51+02:00 September 27th, 2019|

Cantino Valter, Devalle Alain, Fiandrino Simona, Busso Donatella / Financial Reporting / 1-2019


The present research explores non-financial mandatory disclosure in Italy in light of the recent Italian Legislative Decree No. 254/2016 on “the disclosure of non-financial and diversity information”. The study pursues a twofold aim: first, it seeks to measure the level of compliance of non-financial information (NFI) with non-financial mandatory disclosure; and second, it seeks to identify which determinants favor higher compliance levels in the first year of the regulatory adequacy. To these ends, the study examines the non-financial 2017 statements of 50 listed Italian companies to test by means of a NFI Disclosure Score three determinants that could explain the level of compliance. The NFI Disclosure Score was set at 52.58%. Moreover, findings suggest that the type of reporting channels (stand-alone report or disclosure included in the Annual Report), the Guidelines Reporting Initiative (GRI) options chosen by the companies, and the presence of the Corporate Social Responsibility (CSR) Committee within the board all affect compliance levels. This study is one of the first research conducted on mandatory NFI disclosure providing indications for regulators and companies on how to improve NFI disclosure.

non-financial disclosure, mandatory disclosure, non-financial infromation, Italy, Directive 2014/95/EU


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The Connectivity of Information in Integrated Reporting. Empirical Evidence from International Context

By | 2017-12-22T10:28:00+02:00 December 21st, 2017|

Incollingo Alberto, Bianchi Michela/ Financial ReportingRiviste / Fascicolo: 2-2016


In recent years, an increasing number of accounting scholars have been investigating the concept and the purpose of integrated reporting. After the issue of IIRC Framework, which is principle-based, it is now recognized that there is an urgent need for empirical analysis of the content of the reports at their first development stage. This in order to understand if the aims of this new reporting approach are realistic and achievable in practice. This paper responds to such call and it tries to contribute in two ways. Firstly, it illustrates the way in which the Guiding Principle of Connectivity of Information is applied at international level. In particular, we analyzed the compliance of disclosure practices in integrated reports of 2013 with the key forms of Connectivity of information presented in the Framework. Secondly, the paper tries to interpret the practices observed, in order to identify useful implementation criteria of this Guiding Principle. This is light of the fact that the Guiding Principle was noted as the most important to obtain a truly integrated report, but, at the same time, difficult to interpret and problematic to apply. The results of the analysis indicate an application of the principle extremely heterogeneous (and in such cases disappointing), confirming the need to establish practical guidelines to apply it. By this study, we made a preliminary attempt to identify some characteristic attributes of Connectivity of information within integrated reporting. The findings carry implications for eventual refinement of the IIRC Framework and, especially, to support companies wishing to prepare an integrated report.

Keywords: Integrated reporting, non-financial information, connectivity of information, IIRC Framework


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