Purpose,– The purpose,of this paper is to examine,whether,information,on intellectual capital (non-financial information,on knowledge,based resources) is disclosed in Danish IPO prospectuses. Further, to analyse whether this voluntary disclosure has changed in the period from 1999 to 2001 and to analyse what factors can explain the amount,of disclosure in the prospectuses. Design/methodology/approach,– The paper,uses,content,analysis,to compile,a measure,of disclosure on each prospectus and statistical analysis to test whether,there is an association between disclosure and company type, the existence of managerial ownership before the IPO, the size of the company,or the age of the firm. Findings – Based on statistical analysis, it is concluded that the extent of managerial ownership prior to the IPO and industry type affects the amount of voluntary intellectual capital disclosure, while company,size and age do not affect disclosure. The results are interpreted in the light of the increasing importance of disclosing information on value drivers, strategy and intellectual capital to the capital market,and constitute a contribution to the ongoing,debate on corporate reporting practices. Practical,implications,– Since information,on intellectual capital is already,disclosed,in IPO

This article conceptualises the link between firms’ value chains and distribution networks and the requirements for double-materiality assessments in contemporary reporting regulations worldwide. The new European Sustainability Reporting Standards (ESRS) and the standards for sustainability reporting issued by the International Sustainability Standards Board (ISSB), called IFRS S1 and IFRS S2, require companies to report their own direct (scope 1) and indirect (scope 2) greenhouse gas (GHG) emissions as well as GHG emissions in their value chains and distribution networks (both scope 3). However, GHG emissions comprise just one dimension of information that is relevant to understand when assessing, managing and reporting the footprints and impacts of a firm and are, therefore, only a fraction of the key performance indicators (KPIs) related to ESG that should be disclosed. Through a case study, this article demonstrates the connection between a due diligence analysis of a firm’s value chains and distribution networks; an analysis of the competitive parameters of its business model; the identified impacts, risks and opportunities; and the double-materiality perspective. The double-materiality perspective prioritises actions based on probability and significance, creating a natural space to identify KPIs. The implication of this study is that firms can be assisted in identifying relevant KPIs based on double-materiality assessments aided by applying the REGS model because it guides firms in choosing the most relevant KPIs.

Purpose: Despite the common understanding that business model (BM) innovation is of vital importance for securing competitive positioning in the market place, managers still seem to lack appropriate frameworks and tools which can support them in renewing and rejuvenating their company’s existing BM. The purpose of this paper is to develop a structural and comprehensive toolbox of available BM configurations, from which companies can choose, to innovate their BM upon, and to design an appropriate BM innovation framework which can facilitate them in re-designing, selecting, and implementing new BM configuration possibilities. Design/methodology/approach: A structured literature review is conducted to identify all the relevant BM configurations. Then, a value driver analysis is performed to group these BM configurations into appropriate categories. Finally, an ontological classification scheme and a structural and workable process, i.e. a BM innovation framework, are inductively developed. Findings: The paper systematically develops a list of 71 BM configurations and groups them into an ontological classification scheme according to five groups: Value Proposition, Value Segment, Value Configuration, Value Network, and Value Capture. The paper illustrates how the BM innovation framework, enabled by this ontological classification scheme, provides a platform for identifying BM innovation routes for companies, allowing managers to envisage radical, disruptive, and new-to-the-world BM configuration ideas, or apply existing configurations from other industrial settings in what may be deemed new-to-the-industry innovation. Originality/value: The paper enriches the amount of potential BM configurations available for managers to choose from when innovating their BMs, and extends the analysis to five core BM configuration categories. Moreover, the BM innovation framework suggested highlights the strong relationships among the value drivers, thus presenting the opportunity for managers to assess potential conflicts or synergies between various value drivers, and to align the BM management process as a whole.

Purpose: The purpose of this paper is to investigate how entrepreneurs market their business opportunities towards business angels in the investment process. This is achieved by introducing the business model canvas as a mitigating framework to help entrepreneurs in communicating and structuring the information desired by business angels. Design/methodology/approach: This paper mobilises a case study approach by following a series of investment processes and investment meetings between entrepreneurs and business angels through 27 semi-structured interviews as well as participant observation and qualitative participant feedback from 13 investment processes. Findings: The findings illustrate how introducing a framework like the business model canvas helps alleviate the informational and communication challenges between entrepreneurs and business angels. However, some problems occurred when the entrepreneurs and the business angels did not fully agree on the value proposition of the investment opportunity. Research limitations/implications: The findings show that entrepreneurs who market their business cases to investors obtain better feedback and a higher chance of funding using the business model canvas. Implications of this paper also relate to the preparation of the entrepreneurs and that matchmakers between entrepreneurs and investors can use the business model canvas to facilitate such processes. Originality/value: This paper contributes to both the theory of the investment process as well as the application of the business model canvas.