Disclosure of the integrated report: an experiment on investor's judgment and decision-making
DOI:
https://doi.org/10.5007/2175-8069.2021.e77786Abstract
This experimental study aimed at verifying if the disclosure of the Integrated Report (IR) by an organization influences investors' judgment and decision-making. With a simple experimental design, the dependent variable consists of the participants' judgment and decision-making on a scale from -5 to 5. The independent variable has two levels: one using a set of traditional accounting reports and the other adding the IR. The sample consisted of students from the Accounting Sciences, Administration and Economic Sciences courses at a public university in the state of Paraná. The analysis was performed using descriptive statistics and the t-test. With 269 valid results, it was inferred that the IR exerts a positive influence on investors' judgment and decision-making. This result contributes to the literature by providing empirical data that corroborates the studies by Atkins and Maroun (2015) and Cheng et al. (2015); as a practical contribution, it provides evidence that the Integrated Report generates value for investors through the organization's sustainability information. As it is an incipient study in Brazil, there are limitations regarding statistical techniques, which provide opportunities for continuity of the work and creation of a disciplinary field in terms of research involving IR and decision-making.
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