Corporate Governance, Integrated Reporting Framework and Sustainable Business Practices in Emerging Markets

Introduction

In 2013, the IIRC introduced the integrated reporting framework with the aim of embedding sustainable business practices in the public and private sectors (IFRS Foundation, 2021). The framework emphasises how organisations create value in a sustainable manner. It calls for organisations to integrate, in their reporting, both financial and sustainability information to aid stakeholder understanding of the organisation’s operations and value creation processes (Baboukardos et al., 2021; Stubbs & Higgins, 2014). Integral to integrated reporting is the concept of ‘integrated thinking’ – which encompasses an organisation’s decision-making and actions towards the capitals it uses and affects (IFRS Foundation, 2021). Churet et al. (2014) and Baboukardos et al. (2021) consider integrated thinking as a systematic approach that supports how organisations strategically embed sustainable business practices in their operations in value creation. To this extent, the integrated reporting framework plays a dual role of (1) providing stakeholders with better understanding, via reporting, of how sustainable value is created within the context of the organisation’s environment and (2) supporting integrated decision-making and actions that focus on creating value in sustainable ways (Barth et al., 2017; IFRS Foundation, 2021; Wu & Zhou, 2021). Taking this approach means that the integrated reporting framework is a critical tool for good corporate governance with implications for sustainable business practices. Indeed, existing studies suggest that organisations adopting integrated reporting commit to address broader aspects of sustainability (Arora et al., 2022). Further evidence indicates that adopting integrated reporting results in improvements in sustainability processes and structures (Stubbs & Higgins, 2014) and leads to improved productivity and environmental performance (Caldera et al., 2014).

This special issue aims to enhance understanding of corporate governance practices in emerging markets within the context of an integrated reporting framework. Emerging markets are important to examine for several reasons. First, they face unique and significant sustainability challenges such as poverty, inequality, and access to healthcare and education (United Nations, 2023). Second, their regulatory and institutional environments are weak leading to insufficient monitoring and control in organisations (Adegbite, 2015; Luiz & Stewart, 2014). Whilst emerging markets are adopting western-based governance structures, the weak regulatory framework means the adoption of such structures is symbolic (Ahmed & Uddin, 2018; 2022; Kimani et al., 2021). Third, emerging markets play an important role in the global economy and over the past two decades have contributed significantly to global output (Ararat et al., 2021; Najaf et al., 2021; Huidrom et al., 2020). Fourth, the role of corporate governance on sustainability, and the way that organisations support the UN SDGs, have become a global priority (Ararat et al., 2021) and there is accelerated efforts to meet the SDGs across the globe, including emerging markets (United Nations, 2023). Thus, research from emerging markets will contribute to the debate on how corporate governance can enhance and accelerate sustainable development.

We call for research on corporate governance and integrated reporting and their implications on sustainable business practices to contribute to ‘mainstream’ debates as well as addressing pressing concerns around sustainability and ethical leadership in emerging markets.

List of topic areas

We welcome both theoretical and empirical submissions and a variety of methodological approaches including positivistic, interpretive, or critical perspectives. Topics to consider include, albeit non-exhaustive:

1. Integrated reporting, corporate citizenship, and ethical leadership.
2. Board of directors, board committees (including risk, audit, sustainability, remuneration and IT governance), integrated reporting and sustainability performance.
3. Integrated reporting, integrated thinking, and stakeholder engagement.
4. The link between corporate governance structures and integrated thinking.
5. Institutional investors, integrated reporting, and sustainable business practices.
6. Corporate governance, integrated reporting, and sustainability assurance practices.
7. Integrated reporting and earnings management in emerging markets.
8. Integrated reporting and corporate governance effectiveness.
9. Barriers to good corporate governance practices and implications for sustainable business practices.
10. New developments within the corporate governance landscape in emerging markets.

Submissions Information

Submissions are made using ScholarOne Manuscripts. Registration and access are available here.

Author guidelines must be strictly followed.

Authors should select (from the drop-down menu) the special issue title at the appropriate step in the submission process, i.e. in response to "Please select the issue you are submitting to".

Submitted articles must not have been previously published, nor should they be under consideration for publication anywhere else while under review for this journal.

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Key deadlines

Opening date for manuscripts submissions: 1 December, 2023

Closing date for manuscripts submission: 1 May, 2024