Abstract
Purpose - This study aims to investigate the quality of disclosure of a cutting-edge reporting tool - integrated reporting () - in terms of its effectiveness to report on COVID-19 pandemic information, its ability to provide forward-looking information and risk impact implications, and its quality determinants in challenging times. Design/methodology/approach - Thanks to a content analysis of 247 for FY20, an integrated reporting disclosure score was developed to assess the disclosure quality provided by the sampled companies. Three research questions were tested through logistic regressions. Findings - Non-financial disclosure activities struggle to provide adequate information in terms of potential future scenarios, risk assessment and forward-looking analyses. However, companies incorporated in "Anglo-Saxon" territories drafted integrated reports of higher quality. More recently, incorporated companies have made a greater effort to measure and report COVID-19 pandemic impacts on environmental, social and governance and business activities, also increasing their risk assessment and mitigation efforts. Concerning the determinants of disclosure quality, leverage, corporate governance structures, country of incorporation and belonging to "high impact" industries all lead to a higher quality of disclosure. Originality/value - Examining in detail corporate social responsibility activities and corporate governance integrity is pivotal to orienting strategy towards sustainable trajectories: to do so, corporate reporting and disclosure practices are essential tools. In this context, corporate governance systems that emphasize board diversity are proven, even in disruptive circumstances, to play a crucial role in providing corporate reports of higher quality. High disclosure quality that goes beyond mere financial results is considered to be necessary to remain competitive strategically, socially and environmentally.
