Development of Integrated Reporting in the SME Sector: Case Studies from European Countries (CSR, Sustainability, Ethics & Governance)

This book examines on an international basis how small and medium-sized enterprises (SMEs) cope with the changing economic and social challenges, which are also reflected in financial and non-financial reporting. To this end, it presents six case studies from Germany, Hungary, Romania, Poland, Italy, and the United Kingdom, with a particular focus on integrated reporting (IR). The cases presented are drawn from collaborative research within the international network of INTEREST, an international project on integrated reporting for SME transparency. The book will be of interest to researchers and practitioners. Foreword Introduction References Contents List of Figures List of Tables SMEs and IR: An Introduction 1 Beyond Financial Reporting 2 Value Creation in SMEs 3 IR for SMEs: Opportunities and Challenges 4 Do Institutional Environments Impact IR? References SMEs and IR: Evidence from Germany 1 SME Sector in Germany 2 Overview of Reporting Regulations with Potential Impact on IR 2.1 Financial Reporting Requirements 2.2 The Management Report 2.3 Disclosure of Non-financial Information 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in Germany 4.1 Existing Studies on IR in Germany 4.2 Current Corporate Reporting Status DAX 30 4.3 Current Reporting Status of SMEs 4.4 Examples of German Best Practices in IR Connectivity of Information Materiality Business Model 5 Conclusion and Remarks References SMEs and IR: Evidence from Hungary 1 The SME Sector in Hungary 2 Overview of Reporting Regulations with Potential Impact on IR 2.1 The Use of IFRS 2.2 Local Consolidated Financial Statements 2.3 Local Annual and Simplified Annual Financial Statements 2.4 Local Simplified Financial Statements for Micro-entities 2.5 Non-financial Information in Financial Statements Voluntary Corporate Reporting Regulations in Hungary that May Affect IR 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in Hungary 4.1 Best Practices from Hungary in Integrated Reporting 4.2 Strategic Focus and Future Orientation Dunacell Ltd. (Medium-sized Company) 4.3 Connectivity of Information Richter Gedeon Plc. (Listed Company) 4.4 Stakeholder Relationships Borsodi Brewery Ltd. (Large Company) 4.5 Materiality 4.6 Organizational Overview and External Environment Alteo Energy Provider Plc. (Listed Company) 4.7 Governance 4.8 Performance 5 Conclusion and Remarks References Integrated Reports SMEs and IR: Evidence from Italy 1 The SME Sector in Italy 2 Overview of Reporting Regulations with Potential Impact on IR 2.1 Financial Statement Mandatory Information and Evaluation Criteria 2.2 Notes to the Financial Statement and Report on Operations 2.3 Non-financial Reporting Requirements Provided by Legislative Decree No. 254/2016 Substantive Requirements Formal Requirements Audit 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in Italy 4.1 IR By Italian Large Firms 4.2 IR By Italian SMEs 4.3 Monnalisa jsc 4.4 Dellas jsc 4.5 Stafer jsc 5 Conclusion and Remarks References SMEs and IR: Evidence from Poland 1 The SME Sector in Poland 2 Overview of Reporting Regulations with Potential Impact on IR 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in Poland 5 Conclusion and Remarks References SMEs and IR: Evidence from Romania 1 The SME Sector in Romania 2 Overview of Reporting Regulations with Potential Impact on IR 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in Romania 5 Conclusion and Remarks References SMEs and IR: Evidence from UK 1 The SME Sector in UK 2 Overview of Reporting Regulations with Potential Impact on IR 3 National Factors Enabling or Constraining IR 3.1 Political Factors 3.2 Economic Factors 3.3 Social Factors 3.4 Cultural Factors 3.5 Technological Factors 4 Empirical Evidence on IR in UK 5 Conclusion and Remarks References Integrated Reports Conclusions References Integrated Reports Databases Webpages