1
Journal of Accounting, Business and Finance Research
ISSN: 2521-3830
Vol. 15, No. 1, pp. 1-9, 2022
DOI: 10.55217/102.v15i1.522
Integrated Reporting and Protection of Non-Financial Stakeholders in Nigerian Deposit
Money Banks
Appolos N. Nwaobia
1
Grace O. Ogundajo
2
Peter O. Abe
3
1,2,3
Department of Accounting, School of Management Sciences, Babcock University, Ilishan Remo, Nigeria.
1
Email: nwaobiaa@babcock.edu.ng
2
Email: ogundajog@babcock.edu.ng
3
Email: peter.abe@outlook.com
Abstract
Disclosure quality has been the motivation behind every corporate
reporting evolution and recently integrated reporting (IR). However,
the concern is its focus and coverage. Studies have shown that IR
gives more protection to financial capital providers than to other
stakeholders. Thus, this study examined the impact of IR on non-
financial stakeholder (employee, customer, and society) protection in
Nigeria with focus on Deposit Money Banks (DMBs). This study
sampled and analyzed 13 DMBs listed on the Nigerian Exchange
(NGX) as at 31 December 2020. The study found that IR had a
significant difference in pre- and post-IR Framework eras and a
significant effect on employee, customer, and society protection. The
study concluded that IR affected protection of non-financial
stakeholders in Nigerian DMBs. It was recommended that
regulators, corporate leaders, and researchers should pay more
attention to and treat the non-financial stakeholders as capitals,
rather than a means to corporate performance.
Keywords:
Deposit money banks
Disclosure quality
Integrated reporting
Stakeholder protection.
JEL Classification:
M14, M41.
Copyright:
© 2022 by the authors. This article is an
open access article distributed under the
terms and conditions of the Creative
Commons Attribution (CC BY) license
(https://creativecommons.org/licenses/by/4.0/)
Publisher:
Scientific Publishing Institute
Received: 21 February 2022
Revised: 12 April 2022
Accepted: 2 May 2022
Published: 25 May 2022
( Corresponding Author)
Funding: This study received no specific financial support.
Competing Interests: The authors declare that they have no competing interests.
1. Introduction
Every evolution of corporate reporting (financial, sustainability, and integrated) targets improvement of
disclosure quality for ultimate stakeholder protection. The two prominent accounting standard-setters,
Financial Accounting Standards Board (FASB) and International Accounting Standard Board (IASB) agreed
on the fundamental and enhancing qualitative characteristics of financial reporting disclosures (IASB, 2018).
Also, Global Reporting Initiative (GRI) and International Integrated Reporting Council (IIRC), championing
sustainability and integrated reporting respectively are emphasizing quality disclosures (GRI, 2016; IIRC,
2021).
Being a new type of corporate reporting, integrated reporting has been shown to promote quality
corporate reporting by enhancing decision-usefulness of disclosures and consequently protecting users and
stakeholders (Cho, Lee, & Pfeiffer Jr, 2013; Eccles, Ioannou, & Serafeim, 2014; Fernando, Dharmawati, Sriani,