1. bookVolumen 15 (2021): Heft 1 (June 2021)
30 Sep 2019
1 Hefte pro Jahr
access type Uneingeschränkter Zugang

An Inquiry into the Accountability of the State-Owned Financial Institution versus Privately Owned Financial Institution

Online veröffentlicht: 27 Feb 2022
Volumen & Heft: Volumen 15 (2021) - Heft 1 (June 2021)
Seitenbereich: 1 - 14
30 Sep 2019
1 Hefte pro Jahr

The purpose of this research is to analyze whether State-Owned Financial institutions are giving more attention, in their integrated report, to stakeholders, that among the most important find the civil society, than Privately-Owned Financial institutions. An in-depth content analysis of the analyzed financial institutions’ Integrated Reports has been carried out, through the employment of MAXQDA, whit the extent to answer research questions proposed. Evidences outlined a higher stakeholder engagement by State-Owned Enterprises. Further research are required for a better understanding of Stakeholder engagement of SOEs.

JEL Classification

Abeysekera, I. (2013). A template for integrated reporting. Journal of Intellectual Capital, 14(2), 227-245;10.1108/14691931311323869 Search in Google Scholar

AccountAbility (2011). Stakeholder Engagement Standard 2011 (AA1000SES), Final Exposure Draft, available online: http://www.accountability.org/images/content/3/6/362/AA1000SES%202010%20PRINT.PDF (accessed on 11.01.2021); Search in Google Scholar

Acharya, V. V., & Richardson, M. P. (Eds.). (2009). Restoring financial stability: how to repair a failed system (Vol. 542). John Wiley & Sons;10.1002/9781118258163 Search in Google Scholar

Archel, P., Husillos, J., Larrinaga, C., & Spence, C. (2009). Social disclosure, legitimacy theory and the role of the state. Accounting, Auditing & Accountability Journal, 22(8), pp. 1284-1307;10.1108/09513570910999319 Search in Google Scholar

Bartocci, L., & Picciaia, F. (2013), Towards Integrated Reporting in the Public Sector. In Busco, C. et al. (eds), Integrated Reporting: Concepts and Cases that Redefine Corporate Accountability (pp. 191-207). Springer International Publishing Switzerland;10.1007/978-3-319-02168-3_12 Search in Google Scholar

Beck, C., Dumay, J., & Frost, G. (2015). In Pursuit of a ‘Single Source of Truth’: from Threatened Legitimacy to Integrated Reporting. Journal of Business Ethics, 141(1), pp. 191-205; Search in Google Scholar

Bovens, M. (2005), Public accountability. In Ferlie, E., Lynne, L., & Pollitt, C. (eds), The Oxford handbook of public management. Oxford University Press; Search in Google Scholar

Bruton, G.D., Peng, M.W., Ahlstrom, D., Stan, C., & Xu, K. (2015). State-Owned Enterprises Around The World As Hybrid Organizations. The Academy of Management Perspectives, 29(1), pp. 92-114;10.5465/amp.2013.0069 Search in Google Scholar

Burrit, R., & Welch, S. (1997). Accountability for environmental performance of the Australian Commonwealth public sector. Accounting, Auditing & Accountability Journal, 10(4), pp. 532-561;10.1108/09513579710367494 Search in Google Scholar

Cheng, M., Green, W., Conradie, P., Konishi, N., & Romi, A. (2014). The International Integrated Reporting Framework: Key Issues and Future Research Opportunities. Journal of International Financial Management & Accounting, 25(1), pp. 90-119;10.1111/jifm.12015 Search in Google Scholar

Churet, C., & Eccles, R. (2014). Integrated Reporting, Quality of Management and Financial Performance. Journal of Applied Corporate Finance, 26(1), pp. 56-64; Search in Google Scholar

Cormier, D., & Gordon, I. M. (2001). An examination of social and environmental reporting strategies. Accounting, Auditing & Accountability Journal, 14(5), pp. 587-617;10.1108/EUM0000000006264 Search in Google Scholar

Cooper, S.M., & Owen, D.L. (2007). Corporate social reporting and stakeholder accountability: The missing link. Accounting, Organizations and Society, 32, pp. 649–667;10.1016/j.aos.2007.02.001 Search in Google Scholar

de Villiers, C., Rinaldi, L., & Unerman, J. (2014). Integrated Reporting: Insights, gaps and an agenda for future research. Accounting, Auditing & Accountability Journal, 27(7), pp. 1042-1067;10.1108/AAAJ-06-2014-1736 Search in Google Scholar

Donaldson, L., & Preston, L.E. (1995). The stakeholder theory of the corporation: concepts, evidence and implications. Academy of Management Review, 20(1), pp. 65-91;10.2307/258887 Search in Google Scholar

Dumay, J., Guthrie, J., & Farneti, F. (2010). GRI sustainability reporting guidelines for public and third sector organizations: A critical review. Public Management Review, 12(4), pp. 531-548;10.1080/14719037.2010.496266 Search in Google Scholar

Dumitru, M., & Guse, G. R. (2017). The Legitimacy of the International Integrated Reporting Council. Journal of Accounting and Management Information Systems, 16(1), pp. 30-58;10.24818/jamis.2017.01002 Search in Google Scholar

Eccles, R. G., & Krzus, M. P. (2010). One report: Integrated reporting for a sustainable strategy. John Wiley & Sons; Search in Google Scholar

Eccles, R. G., & Saltzman, D. (2011). Achieving sustainability through integrated reporting. Stanf Soc Innov Rev Summer: 59; Search in Google Scholar

Erkens, D. H., Hung, M., & Matos, P. (2012). Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide. Journal of corporate finance, 18(2), pp. 389-411;10.1016/j.jcorpfin.2012.01.005 Search in Google Scholar

Farneti, F., & Guthrie, J. (2009). Sustainability reporting by Australian public-sector organisations: Why they report. Accounting forum, 33(2), pp. 89-98;10.1016/j.accfor.2009.04.002 Search in Google Scholar

Flak, L. S., & Dertz, W. (2005). Stakeholder theory and balanced scorecard to improve IS strategy development in public sector. Proceedings of the 28th Seminar on Information Systems Research in Scandinavia, Kristiansand, Norway. Search in Google Scholar

Freeman, R.E. (1984). Strategic Management: A Stakeholder Approach. Pitman Publishing Inc.; Search in Google Scholar

Freeman, R.E. (2004). The stakeholder approach revisited. Zeitschrift für Wirtschafts- und Unternehmensethik, 5(3), pp. 228-254;10.5771/1439-880X-2004-3-228 Search in Google Scholar

Freeman, R.E. (2010). Strategic Management: A Stakeholder Approach (Reprint of the 1984 edition). Cambridge Univeristy Press;10.1017/CBO9781139192675 Search in Google Scholar

Gray, R., Owen, D., & Maunders, K. (1988). Corporate Social Reporting: Emerging Trends in Accountability and the Social Contract. Accounting, Auditing & Accountability Journal, 1(1), pp. 6-20;10.1108/EUM0000000004617 Search in Google Scholar

Gray, R., Dillard, J., & Spence, C. (2009). Social accounting research as if the world matters: an essay in Postalgia and a new absurdism. Public management review, 11(5), pp. 545-573;10.1080/14719030902798222 Search in Google Scholar

Grossi, G., & Steccolini, I. (2015). Pursuing Private or Public Accountability in the Public Sector? Applying IPSASs to Define the Reporting Entity in Municipal Consolidation. International Journal of Public Administration, 38(4), pp. 325-334;10.1080/01900692.2015.1001239 Search in Google Scholar

Guthrie J, Parker L. (1989). Corporate social reporting: a rebuttal of legitimacy theory. Accounting and Business Research 19(76): pp. 343–352;10.1080/00014788.1989.9728863 Search in Google Scholar

Guthrie, J., & Farneti, F. (2008). GRI sustainability reporting by Australian public-sector organizations. Public Money and management, 28(6), pp. 361-366;10.1111/j.1467-9302.2008.00670.x Search in Google Scholar

Hahn, R., & Lülfs, R. (2014). Legitimizing negative aspects in GRI-oriented sustainability reporting: A qualitative analysis of corporate disclosure strategies. Journal of business ethics, 123(3), pp. 401-420;10.1007/s10551-013-1801-4 Search in Google Scholar

Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: a review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, pp. 5-21;10.1016/j.jclepro.2013.07.005 Search in Google Scholar

Halachmi, A., Greiling, D. (2013). Transparency, E-Government, and Accountability. Some Issues and Considerations. Public Performance & Management Review, 36(2), pp. 562-584;10.2753/PMR1530-9576360404 Search in Google Scholar

Heath, J., & Norman, W. (2004). Stakeholder Theory, Corporate Governance and Public Management: What can the History of State-Run Enterprises Teach us in the Post-Enron era? Journal of Business Ethics, 53, pp. 247-265;10.1023/B:BUSI.0000039418.75103.ed Search in Google Scholar

Hybels, R. C. (1995). On Legitimacy, Legitimation, and Organizations: A Critical Review and Integrative Theoretical Model”. Academy of Management Journal, Special Issue: Best Papers Proceedings, pp. 241 - 245.10.5465/ambpp.1995.17536509 Search in Google Scholar

Idowu, S. O., Dragu, I. M., Tiron-Tudor, A., & Farcas, T. V. (2016). From CSR and sustainability to integrated reporting. International Journal of Social Entrepreneurship and Innovation, 4(2), pp. 134-151.10.1504/IJSEI.2016.076687 Search in Google Scholar

International Integrated Reporting Council (IIRC), ‘The International <IR> Framework’, (2015), available at: http://integratedreporting.org/wp-content/uploads/2015/03/13-12-08-THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf; Search in Google Scholar

Kolk, A. (2003). Trends in sustainability reporting by the Fortune Global 250. Business strategy and the environment, 12(5), pp. 279-291;10.1002/bse.370 Search in Google Scholar

KPMG (2012). Integrated Reporting: Performance insight through Better Business Reporting, available online: http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/road-to-integrated-reporting.pdf (accessed on 10.03.2014); Search in Google Scholar

Krasodomska, J. (2015). CSR disclosures in the banking industry. Empirical evidence from Poland. Social Responsibility Journal, 11(3), pp. 406-423; Search in Google Scholar

Krippendorff, K. (1980) Content analysis: an introduction to its methodology. Sage Publications, Inc; Search in Google Scholar

Krzus, M. (2011). Integrated reporting: if not now, when? IRZ, 6, 271-276, available online: http://www.mikekrzus.com/resources/IRZ-Integrated-reporting.pdf (accessed on 08.03.2021); Search in Google Scholar

MacCarthaigh, M. (2011). Managing state-owned enterprises in an age of crisis: an analysis of Irish experience. Policy Studies, 32(3), pp. 215-230;10.1080/01442872.2011.561688 Search in Google Scholar

Manetti, G. (2011). The quality of stakeholder engagement in sustainability reporting: empirical evidence and critical points. Corporate Social Responsibility and Environmental Management, 18(2), pp. 110-122.10.1002/csr.255 Search in Google Scholar

Mitchell, R.K., Agle, B.R., & Wood, D.J. (1997). Toward a theory of stakeholder identification and sailence: Defining the principle of who and what really counts. Academy of Management Review, 22(4), pp. 853-886;10.2307/259247 Search in Google Scholar

Morros, J. (2016). The integrated reporting: A presentation of the current state of art and aspects of integrated reporting that need further development. Intangible Capital, 12(1), pp. 336-356;10.3926/ic.700 Search in Google Scholar

OECD (2015), OECD Guidelines on Corporate Governance of State-Owned Enterpises, 2015 Edition, OECD Publishing, Paris; Search in Google Scholar

Ogden, S., & Watson, R. (1999). Corporate performance and stakeholder management: Balancing shareholder and customer interests in the UK privatized water industry. Academy of Management Journal, 42(5), pp. 526-538; Search in Google Scholar

Paternostro, S. (2016). The Connectivity of Information for the Integrated Reporting, in Busco, C. A. (ed), Integrated Reporting. Springer Publishing; Search in Google Scholar

Phillips, R., Freeman, R.E., & Wicks, A.C. (2003). What Stakeholder Theory Is Not. Business Ethics Quarterly, 13(4), pp. 479-502;10.5840/beq200313434 Search in Google Scholar

Roberts, R.W. (1992). Determinants of corporate social responsibility disclosure: an application of stakeholder theory. Accounting, Organizations and Society, 17(6), pp. 595-612;10.1016/0361-3682(92)90015-K Search in Google Scholar

Roper, J., & Schoenberger-Ograd, M. (2011). State-Owned Enterprises: Issues of Accountability and Legitimacy. Management Communication Quarterly, 24(4), pp. 693-709.10.1177/0893318911415598 Search in Google Scholar

Scholl, H.J. (2001), Applying Stakeholder Theory to E-government, in Schmid, B., Stanoevska-Slabeva, K., Tschammer, V. (eds.), Towards the E-Society (pp. 735-747), Springer Publishing; Search in Google Scholar

Stan, C., Peng, M.W., & Bruton, G.D. (2014). Slack and the performance of state-owned enterprises. Asia Pacific Journal of Management, 31(2), pp. 473-495;10.1007/s10490-013-9347-7 Search in Google Scholar

Steyn, B., & de Beer, E. (2012). Strategic role of public relations in the process of ‘integrated reporting’ - An exploratory study,. Sinergie, rivista di studi e ricerche, 88, pp. 53-72; Search in Google Scholar

Suchman, M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Journal, 20(3), pp. 571 – 610; Search in Google Scholar

Synergiz (2014). What Natural Capital Disclosure for Integrated Reporting?, available online: http://www.acts-net.org/images/Pubs/Working_Papers/What-Natural-Capital-disclosure-for-integrated-reporting-Synergiz-ACTS-2014.pdf, accessed on: 20.02.2021; Search in Google Scholar

Tagesson, T., Blank, V., Broberg, P., & Collin, S.O. (2009). What Explains the Extent and Content of Social and Environmental Disclosures on Corporate Websites: A Study of Social and Environmental Reporting in Swedish Listed Corporations, Corporate Social Responsibility and Environmental Management, 16, pp. 352-364;10.1002/csr.194 Search in Google Scholar

Tilling, M. V. (2004). Refinements in Legitimacy Theory in Social and Environmental Accounting. School of Commerce, Flinders University;10.1080/0969160X.2004.9651716 Search in Google Scholar

Venturelli, A., Caputo, F., Cosma, S., Leopizzi, R., & Pizzi, S. (2017). Directive 2014/95/EU: Are Italian Companies Already Compliant?. Sustainability, 9(8), pp. 1385;10.3390/su9081385 Search in Google Scholar

Weber, R. P. (1990). Basic content analysis (No. 49). Sage;10.4135/9781412983488 Search in Google Scholar

Wilmshurst T.D, Frost G.R. (2000). Corporate environmental reporting: a test of legitimacy theory. Accounting, Auditing and Accountability Journal 13(1): pp. 10–26;10.1108/09513570010316126 Search in Google Scholar

EU Commission. Directive 2014/95/EU of the European Parliament and the Council of 22 October 2014 amending Directive 2013/34/EU as Regards Disclosure of Non-Financial and Diversity Information by Certain large Undertakings and Groups; EU Commission: Brussels, Belgium, 2014; pp. 1–9; Search in Google Scholar

Tan, J. (2005). Venturing in turbulent water: A historical perspective of economic reform and entrepreneurial transformation. Journal of Business Venturing, 20(5), pp. 689-704.10.1016/j.jbusvent.2004.09.002 Search in Google Scholar

PWC. (2015). State-Owned Enterprises Catalysts for Public Value Creation. PWC; Search in Google Scholar

Luke, B. (2010), Examining Accountability Dimensions In StateOwned Enterprises. Financial Accountability & Management, 26: 134–162;10.1111/j.1468-0408.2010.00496.x Search in Google Scholar

Mishra, R. K. (2014). Role of State-Owned Enterprises in India’s Economic Development. OECD Publishing; Search in Google Scholar

Flores-Macias, F. (2009). The Return of State-Owned Enterprises. HIR Harvard International Review; Search in Google Scholar

Christiansen, H. (2011). The Size and Composition of the SOE Sector in OECD Countries. OECD Publishing, pp. 80-98; Search in Google Scholar

Bruton, G. D., Peng, M. W., Ahlstrom, D., Stan, C., & Xu, K. (2015). State-owned enterprises around the world as hybrid organizations. The Academy of Management Perspectives, 29(1), pp. 92-11410.5465/amp.2013.0069 Search in Google Scholar

Empfohlene Artikel von Trend MD

Planen Sie Ihre Fernkonferenz mit Scienceendo