Integrated Reporting and Firm Value: A Systematic Literature Review from Accounting and Economic Perspectives

Abstract

This study aims to examine the relationship between integrated reporting and firm value from accounting and economic perspectives. Employing a Systematic Literature Review approach, this research analyzes academic articles published over the last five years and indexed in Google Scholar. The findings indicate that the impact of integrated reporting on firm value remains mixed and inconclusive. Several studies report a positive association, suggesting that integrated reporting enhances transparency and reduces information asymmetry, thereby improving firm valuation. However, other studies reveal weak or negative effects, highlighting issues related to information complexity and ambiguity perceived by market participants. These results suggest that the effectiveness of integrated reporting is not solely determined by its adoption but also by the quality of disclosure and the market’s ability to interpret integrated financial and non-financial information. This study underscores the importance of a more integrative conceptual framework that bridges accounting and economic studies to better explain firm value creation mechanisms. Furthermore, the findings provide a foundation for future research to explore moderating factors that influence the relationship between integrated reporting and firm value.