In a context of widespread acceptance and implementation of the United Nations Sustainable Development Goals (SDGs), this paper discusses the possible relationship between intellectual capital (IC) and nonfinancial information (NFI), particularly related to SDGs and corporate social responsibility (CSR) in a stakeholder engagement perspective. Prior studies called for further investigation about nonfinancial risk disclosure and claimed that companies mandated to disclose risk-related information tend to focus mainly on financial risks. Therefore, given the growing attention of regulators to the content of mandatory companies’ NFI brought to the Directive 2014/95/EU, this study intends to contribute to fill this literature gap by investigating the drivers of risk-related disclosure quality (RDQ) and to what extent it could be affected by the structural capital (SC), as one of the components of IC. The empirical analysis is based on a sample made of 51 Italian large undertakings and groups. The study uses content analysis to assess the RDQ from firms’ corporate reports. Regression analysis is used to examine if there is an influence of SC toward RDQ, both considered as a single information package and with specific reference to environmental disclosure. Results reveal that a positive association exists between RDQ and SC. Moreover, it is providing some support for the positive correlation between SC and the firm’s size. In this sense, the paper contributes to existing risk reporting literature as a pioneering study identifying an IC driver to determine the quality of risk and risk management information. For regulators, this study highlights how, in a context of mandatory disclosure, the quality of information could also depend on firm characteristics (SC). For practitioners, the paper helps in understanding the role of IC in order to increase the quality of the corporate risk reporting.

The International Accounting Standards Board (IASB) seeks to provide global financial reporting comparability of its International Financial Reporting Standards (IFRS). The objective of this study is to propose an organizational dynamic that could improve global comparability of financial reporting under IFRS through rigorous and homogeneous global enforcement. We use the qualitative framework of Gioia et al. (Organ Res Methods 16:15–31, 2012) to identify the relevant literature, methodologies, and organizational dynamics to understand the issues and changes needed to possibly achieve full-IFRS financial reporting for cross-border listed firms. We draw on previous studies that provided evidence of limitations and issues about comparability of financial reporting based on (not homogeneous) adoption, application, and enforcement of IFRS worldwide. A content analysis of IASB’s deliberations in developing its interactions with (International Organization of Securities Commissions (IOSCO)) and national regulatory bodies is used to provide evidence about the initiatives IASB has undertaken to support the homogeneous global enforcement of its standards. Then, we prescribe an organizational dynamics change for IOSCO, to enhance its engagement in promoting rigorous and homogeneous enforcement of IFRS globally. Lastly, we propose that IOSCO review, at least once every three years, cross-border listed firms’ financial reports using a comment letter approach. The results of such a review would be publicly available so that investors and creditors might be able to ascertain whether the financial reports published by cross-border listed firms are comparable with their cross-border listed competitors stating IFRS compliance.

With its Global Compact, the United Nations (UN) called companies to align strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, while settling and pursuing the seventeen UN Sustainable Development Goals (SDGs). Achieving SDGs in business reporting is part of the lively debate in the literature about the ability of nonfinancial reporting in providing stakeholders with useful and value-relevant information about companies’ behaviors. This paper intends to address this issue in the aftermath of the recent European Union EU policy (Directive 95/2014/EU) of mandating companies to disclose nonfinancial information (NFI) according to some of the SDGs matters. To this end, the Italian context was analyzed, and main findings provide some early evidence of the absence of association between NFI and financial/market performance. At the same time, the positive association between companies’ Beta factor and size and NFI is supported. This implies that stakeholders still do not appreciate NFI reported according to the new rules and probably that more time is needed to assess the possible advantages of an improved regulation about NFI. However, results show that larger companies and/or companies with higher risk profiles (Beta) have already started to improve their NFI.

This paper considers the COVID-19 pandemic's role and investigates the impact of non-interest income on bank credit risk. Specifically, it performs a comparative analysis between before and during the pandemic periods. The data of listed banks are extracted from the BankFocus for 14 Asian emerging markets. The regression results indicate the positive influence of non-interest income on bank credit risk. Interestingly, the magnitude of the impact is higher in the pre-pandemic period, and it significantly reduces during the pandemic period. This study provides implications for bank practitioners and regulators.