• Key skills and training needs of the D2N2 low carbon and environmental goods and services (LCEGS) sector

      Paterson, Fred; Baranova, Polina; Neary, Siobhan; Hanson, Jill; Clarke, Lewis; Wond, Tracey; Lee, Amanda; Gill, Judith; Gallotta, Bruno; Eisen, Matthew; Nesterova, Iana; University of Derby; D2N2; European Union Social Fund (University of Derby, 2018-07)
      Low Carbon is one of eight priority business sectors identified in the D2N2 Local Enterprise Partnership (LEP) Strategic Economic Plan (2014 – 2023). In January 2018, Learndirect (on behalf of the LEP) commissioned Derby Business School to research the key skills required by the Low Carbon and Environmental Goods and Services (LCEGS) sector in D2N2; map existing training provision for the sector and establish the needs of key sector supply chains. The research finds that many of the key issues and challenges for businesses that supply LCEGS identified in previous reports remain. Suggests, surprisingly, that as many as 1 in 4 firms are doing business in the sector; with 1 in 20 firms deriving more than 80% of their turnover from LCEGS. Estimates the number of LCEGS suppliers in 5 key sectors to demonstrate where skills provision could be targeted. Highlights the variety of skills needed in different sectors and some of the issues, gaps and challenges facing skills providers. Proposes that pro-environmental suppliers and innovators should be identified in each priority sector and the current and future skills needs relevant to each sector established. The report concludes that much of the business activity currently categorised as Low Carbon sector can be re-framed as pro-environmental innovation in existing traditional sectors.
    • Competitiveness through responsible supply chains and resource efficiency: a regional outlook

      Baranova, Polina; Paterson, Fred; University of Derby; East Midlands Chamber (University of Derby, 2018-02)
      This report describes an independent analysis by the University of Derby Business School (DBS) of surveys conducted by the East Midlands Chamber of Commerce (EMCC) in 2017 and 2015. Whilst the surveys were part of the EMCC’s routine quarterly engagement with local businesses that dealt with a range of traditional business interests, this analysis focuses upon a series of questions that addressed companies’ awareness and engagement with resource efficiency and the degree to which they supply and benefit from low carbon and environmental goods and services (LCEGS). Respondents to the EMCC survey were evenly balanced across Derbyshire, Nottinghamshire, Leicestershire and the three major cities therein. Similarly, there was a good balance between SMEs and larger businesses represented in the survey sample. The study shows that the number of businesses supplying low carbon and environmental goods and services (LCEGS) across the East Midlands is growing - with 24% of companies surveyed by EMCC in 2017 deriving some degree of turnover from LCEGS, compared with 16% in 2015. 12% of businesses surveyed generated more than 20% of their turnover from LCEGS in 2017, compared with only 8% of business in this category in 2015. According to the survey data, micro and small sized businesses have shown the greatest growth in LCEGS sector activity between 2015-2017. Both these categories of businesses show a significant increase in the number of businesses generating a proportion of their turnover from LCEGS (8.8% and 9.1% respectively). On the other hand, slightly more medium-sized businesses in 2017 said they derived no turnover from LCEGS (81.4%) compared with 2015 (79.7%). Whilst none of the large businesses in the sample generated their entire turnover from LCEGS in 2017, they increased the proportion of their LCEGS turnover in the 20-49% and 50-79% categories (by 9.6% and 6.1% respectively). Countering this trend, however, was a 2.6% decrease in large businesses deriving 80-100% of turnover from LCEGS. The three top manufacturing sectors in the region by contribution to the LCEGS sector in both 2015 and 2017 samples are: construction, engineering & manufacturing and the energy and water supply sectors. The top three services sectors across the region, by their contribution to the LCEGS sector are: professional services, transport and logistics, and retail sectors. Compared with other key sectors in the region, the construction sector alongside energy and water services derive the largest proportion of turnover from LCEGS. However, engineering & manufacture, transport & logistics, retail and professional services companies are all showing significant growth in LCEGS business. On average, in 2017 manufacturing sector companies generated more annual turnover from LCEGS than companies operating in the services sector. This is a 20% improvement on 2015 figures, which indicate that over the last two years more and more regional businesses in the manufacturing sectors successfully supply LCEGS. Businesses operating in the various services sector are significantly lagging behind this trend with little increase in the supply of low carbon environmental services over the last two years.
    • Does Regulatory Environment affect Earnings Management in Transitional Economies? An Empirical Examination of the Financial Reporting Quality of Cross-Listed Firms of China and Hong Kong

      Nnadi, Matthias; Omoteso, Kamil; Yu, Yi; Cranfield University; Coventry University (Emerald Group Publishing Limited., 2015)
      This chapter provides evidence on the impact of regulatory environment on financial reporting quality of transitional economies. This study compares the financial reporting quality of Hong Kong firms which are cross-listed in mainland China with those of Hong Kong firms cross-listed in China using specific earnings management metrics (earnings smoothing, timely loss recognition, value relevance and managing towards earnings targets) under pre- and post-IFRS regimes. The financial reporting quality of Chinese A-share companies and Hong Kong listed companies are examined using earnings management measures. Using 2007 as base year, the study used a cumulative of −5 and +5 years of convergence experience which provide a total of 3,000 firm-year observations. In addition to regression analyses, we used the difference-in-difference analysis to check for the impact of regulatory environments on earnings management. Through the lens of contingency theory, our results indicate that the adoption of the new substantially IFRS-convergent accounting standards in China results in better financial reporting quality evidenced by less earning management. The empirical results further shows that accounting data are more value relevant for Hong Kong listed firms, and that firms listed in China are more likely to engage in accrual-based earnings management than in real earnings management activities. We established that different earnings management practices that are seemingly tolerable in one country may not be tolerable in another due to level of differences in the regulatory environments. The findings show that Hong Kong listed companies’ exhibit higher level of financial reporting quality than Chinese listed companies, which implies that the financial reporting quality under IFRS can be significantly different in regions with different institutional, economic and regulatory environments. The results imply that contingent factors such as country’s institutional structures, its extent of regulation and the strength of its investor protection environments impact on financial reporting quality particularly in transitional and emerging economies. As such, these factors need to be given appropriate considerations by financial reporting regulators and policy-makers interested in controlling earnings management practices among their corporations. This study is a high impact study considering that China plays a significant role in today’s globalised economy. This study is unique as it the first, that we are aware of, to compare real earnings activities against accrual-based earnings management in pre- and post-IFRS adoption periods within the Chinese and Hong Kong financial reporting environments, distinguishing between cross-listed and non-cross-listed firms.
    • Combating environmental irresponsibility of transnational corporations in Africa: an empirical analysis.

      Yusuf, Hakeem O.; Omoteso, Kamil; University of Birmingham; Coventry University (Taylor and Francis., 2015-12-15)
      Environmental irresponsibility is one of the most prominent issues confronting host communities of transnational corporations (TNCs) engaged in the production of economic goods and, sometimes, services. Drawing mainly on stakeholder theory, combined with legitimacy theory, this article addresses how host communities in Africa combat the challenge of environmental irresponsibility of TNCs. To illustrate the dimensions and dynamics of the challenge, this paper examines the experience of despoliation of Ogoniland by the oil giant Shell in Nigeria. The analysis draws attention to the significance of the role of individuals and civil society groups in securing accountability of one of the most formidable fronts of economic globalisation. The analysis is particularly relevant to the experience of environmental irresponsibility in the context of weak governance structures.
    • International standards on auditing in the international financial services centres: What matters?

      Boolaky, Pran; Omoteso, Kamil; Griffith University; Coventry University (Emerald, 2016-06-06)
      Purpose This paper aims to investigate the position of international financial services centres (IFSCs) in the International Federation of Accountants’ countries’ status on the adoption of International Standards on Auditing (ISA) and assess the factors influencing ISA adoption in these centres. Design/methodology/approach This research drew its data from various sources, including the World Economic Forum (WEF) data set, the World Bank Report on Observation of Standards and Codes, the World Development Indicators and the Economic Intelligence Unit Report on Democracy Index on 50 countries classified as IFSCs. The adoption status is then regressed on a number of variables of interest. To establish that the results are robust, the authors used a combination of different regression techniques comprising OLS, multinomial and logistic regressions. Findings In addition to the gross domestic product growth and education level, this paper adds new evidence to the literature by reporting the positive association between the level of democracy and the enforcement of securities’ regulation on ISA adoption. It argues that political, economic, social and legal factors impact on ISA adoption in the IFSCs. Research limitations/implications The sample size is limited to 50 from a population of 99 IFSCs because of the lack of data. Some of the independent variables are basically archival data. Reliance is placed on WEF with regard to the measurement of protection of minority interest, securities and exchange regulations and on the Economic Intelligence Unit for democracy index. Practical implications This paper stresses the importance of ISAs in IFSCs and the role of political power and the enforcement of securities laws on the adoption of ISA. Originality/value This study fills the research gap relating to the absence of empirical studies on ISA adoption and its drivers in IFSCs.
    • Reinforcing users’ confidence in statutory audit during a post-crisis period: An empirical study.

      Aziz, U.A.; Omoteso, Kamil; De Montfort University; Coventry University (Emerald Group Publishing Limited, 2014-11-04)
      Purpose – The purpose of this paper is to examine the factors that are perceived as important for the statutory audit function to restore confidence in the financial statements, its value relevance and decision usefulness in the aftermath of the financial crisis. Design/methodology/approach – This research used a structured questionnaire to collect data from practising accountants, auditors and accounting academics within the UK. A factor analysis was undertaken to examine the potential inter-correlations that could exist between different factors obtained from the literature. The analysis reduced these variables into the more important factors which were subsequently modelled in a logistic regression analysis. Findings – The paper identified, as critical factors for enhancing statutory audits, “a continuously updated accounting curriculum”, “expansion of the auditor's role”, “frequent meetings between regulators and auditors”, “mandatory rotation of auditors”, “limiting the provision of non-audit services”, “knowledge requirements from disciplines other than accounting” and “encouraging joint audits”. It is hoped that addressing these issues might improve confidence in the audit profession, thereby reinforcing its value relevance. Research limitations/implications – The study's findings imply that professional accountancy bodies, accounting educators and accounting firms will need to incorporate the key factors identified in this study into their curriculum and training schemes. However, the generalisability of these findings might be limited as the research data were primarily obtained from UK accountants alone. Originality/value – This study extends the frontiers of knowledge on critical factors that could reinforce users’ confidence in the statutory audit function and have implications for policy and practice.
    • BIM-based deconstruction tool: Towards essential functionalities

      Akinade, Olugbenga O.; Oyedele, Lukumon O.; Omoteso, Kamil; Ajayi, Saheed O.; Bilal, Muhammad; Owolabi, Hakeem A.; Alaka, Hafiz A.; Ayris, Lara; Henry Looney, John; Bristol Enterprise, Research and Innovation Centre; Bristol Enterprise, Research and Innovation Centre; Coventry University; Leeds Beckett University; Bristol Enterprise, Research and Innovation Centre; University of Northampton; Birmingham City University; Waste Plan Solutions, Northampton,; Sustainable Directions Ltd, Gloucestershire (2017-06)
      This study discusses the future directions of effective Design for Deconstruction (DfD) using BIM-based approach to design coordination. After a review of extant literatures on existing DfD practices and tools, it became evident that none of the tools is BIM compliant and that BIM implementation has been ignored for end-of-life activities. To understand how BIM could be employed for DfD and to identify essential functionalities for a BIM-based deconstruction tool, Focus Group Interviews (FGIs) were conducted with professionals who have utilised BIM on their projects. The interview transcripts of the FGIs were analysed using descriptive interpretive analysis to identify common themes based on the experiences of the participants. The themes highlight functionalities of BIM in driving effective DfD process, which include improved collaboration among stakeholders, visualisation of deconstruction process, identification of recoverable materials, deconstruction plan development, performance analysis and simulation of end-of-life alternatives, improved building lifecycle management, and interoperability with existing BIM software. The results provide the needed technological support for developing tools for BIM compliant DfD tools.
    • Growth, human development, and trade: the Asian experience.

      Mustafa, Ghulam; Rizov, Marian; Kernohan, David; Federal Urdu University; University of Lincoln; Middlesex University London (Elsevier, 2016-12-14)
      This study looks at the three-way relationship between economic growth, human development, and openness to trade in a large panel of developing Asian economies. Using a theoretically motivated simultaneous equations system, we find that although human development contributes positively to economic growth, in the case of our Asian sample growth does not appear to have had a positive influence on human development. Uneven growth accompanied by lagging institutional development, preventing human capital formation, might have inhibited human development in the short to medium run. Complementary to the literature showing that growth is sustainable only when accompanied by human development, we confirm a role for trade liberalisation policies in achieving higher growth as well as human development.
    • Growth in emerging economies: is there a role for education?

      Lenkei, Balint; Mustafa, Ghulam; Vecchi, Michela; Middlesex University London; Forman Christian College (A Chartered University), Pakistan; Middlesex University London (Elsevier, 2018-04-01)
      We study the relationship between human capital and growth using a model which encompasses previous specifications and estimates the short and the long-run effects of human capital accumulation. We adopt an empirical framework which accounts for countries’ heterogeneity and cross-sectional dependence in a dynamic panel. Results for a sample of 14 Asian countries reveal a large and positive long-run impact of human capital on growth in the 1960–2013 period. Looking at different types of education we find that the diffusion of primary and secondary education has a positive long-run impact, while the long-run effect of tertiary education is negative. Low proportion of people educated at the tertiary level, lack of opportunities for highly educated workers and the brain drain phenomenon could explain this result. These results support policies directed towards increasing investments in primary and secondary education rather than focusing on a minority educated at the tertiary level.
    • Micro enterprises, self-efficacy and knowledge acquisition: evidence from Greece and Spain.

      Alonzo, Abel Duarte; Kok, Seng; Sakellarios, Nikolaos; O'Brien, Seamus; Liverpool John Moores University; University of Derby (Emerald, 2018-06-29)
      Purpose The purpose of this exploratory study is to investigate the significance of self-efficacy and knowledge acquisition among micro businesses operating in challenging economic environments. The study uses social cognitive theory (SCT) and the knowledge-based theory of the firm (KBTF), and it proposes a refinement of these theoretical frameworks in the context of the study. Design/methodology/approach A case method was chosen, and face-to-face interviews with 14 owners of firms in island and rural regions of Greece and Spain were conducted. Findings Content analysis identified the importance of self-efficacy, primarily illustrated by entrepreneurs’ determination and self-motivation, propensity to take risks and ability to anticipate consequences of their actions. Acquisition and accumulation of explicit knowledge, particularly through generational or mentoring processes, and subsequent wealth of tacit knowledge, also emerged as very significant in preparing and guiding entrepreneurs. Various links between the adopted theories and findings emerged, particularly regarding forethought, vicarious learning (SCT) and specialisation in knowledge acquisition (KBTF). Originality/value The proposed theoretical refinement based on the SCT and KBTF paradigms allows for a more rigorous, in-depth reflection on the links between cognitive elements present in the participating micro entrepreneurs and knowledge-based attributes on their ability to increase organisational resilience. The study also contributes toward the micro business literature and addresses a knowledge gap, particularly, in that contemporary research has not explored entrepreneurial motivations among small firm entrepreneurs. Finally, the practical implications emerging from the findings provide a platform for various stakeholders (associations, government agencies) to appreciate and support entrepreneurs’ needs, notably, of acquiring, increasing and sharing knowledge.
    • Accountability of transnational corporations in the developing world

      Omoteso, Kamil; Yusuf, Hakeem; Coventry University; University of Birmingham (2017-03-06)
      Purpose: This paper contends that the dominant voluntarism approach to the accountability of Transnational Corporations (TNCs) is inadequate and not fit-for-purpose. It argues for the establishment of an international legal mechanism for securing the accountability of TNCs particularly in the context of developing countries with notoriously weak governance mechanisms to protect all relevant stakeholders. Design/methodology/approach: The study adopts insights from the fields of management and international law to draw out synergies from particular understandings of corporate governance, corporate social responsibility and international human rights. The governance challenges in developing countries with regard to securing the accountability of TNCs is illustrated with the Nigerian experience of oil-industry legislation reform. Findings: The specific context of the experiences of developing countries in Africa on the operations of TNCs particularly commends the need and expedience to create an international legal regime for ensuring the accountability of TNCs. Originality/value: Mainstream research in this area has focused mainly on self and voluntary models of regulation and accountability that have privileged the legal fiction of the corporate status of TNCs. This article departs from that model to argue for an enforceable model of TNC accountability based on an international mechanism.
    • International standards on auditing in the international financial services centres

      Boolaky, Pran; Omoteso, Kamil; Coventry University (2016-06-06)
      Purpose- This paper aims to (1) investigate the position of International Financial Services Centres (IFSCs) in the International Federation of Accountants’ countries’ status on International Standards on Auditing’s adoption and (2) assess the factors influencing ISA adoption in these Centres. Design/methodology/approach- This research drew its data from various sources, including the World Economic Forum dataset, the World Bank Report on Observation of Standards and Codes, the World Development Indicators and the Economic Intelligence Unit Report on Democracy Index on fifty countries classified as IFSCs. The adoption status is then regressed on a number of variables of interest. To establish that our results are robust, we used a combination of different regression techniques comprising OLS, multinomial and logistic regressions. Findings- In addition to GDP growth and education level, this paper adds new evidence to the literature by reporting the positive association between the level of democracy and the enforcement of securities’ regulation on ISA adoption. It argues that political, economic, social and legal factors impact on ISA adoption in the IFSCs. Research limitations/implications- The sample size is limited to 50 from a population of 99 IFSCs because of lack of data. Some of the independent variables are basically archival data. Reliance is placed on WEF with regard to the measurement of protection of minority interest, securities and exchange regulations, and on Economic Intelligence Unit for democracy index. Practical implications- This paper stresses the importance of ISAs in IFSCs and the role of political power and the enforcement of securities laws on the adoption of ISA. Originality/value-This study fills the research gap relating to the absence of empirical studies on ISA adoption and its drivers in IFSCs.
    • Why do we need to measure performance? A local government perspective.

      Coyle, Hilary; University of Derby (Palgrave Macmillan, 2018)
      Performance measurement is always an interesting and emotive topic to discuss. Many people are comforted by calculating key performance indicators and feel that they are successful if they count everything they can. However nothing grows just by counting it. In this chapter we will look at what performance measurement is and some of the main theories used, like the Balanced Scorecard. We take a particular look at the public sector and specifically Local Government. Local Government has a more complicated “business model” since many of their service users are also taxpayers and they need to demonstrate that taxpayers’ funds have been spent fairly and responsibly. The conclusion of the chapter shows that more research is needed to see how performance measurement impacts performance overall.
    • A fuzzy multi-layer assessment method for EFQM.

      Daniel, Jay; Naderpour, Mohsen; Lin, Chin-Teng; University of Derby; University of Technology Sydney (IEEE, 2018)
      Although the European Foundation for Quality Management (EFQM) is one of the best-known business excellence frameworks, its inherent self-assessment approaches have several limitations. A critical review of self-assessment models reveals that most models are ambiguous and limited to precise data. In addition, the impact of expert knowledge on scoring is overly subjective, and most methodologies assume the relationships between variables are linear. This paper presents a new fuzzy multi-layer assessment method that relies on fuzzy inference systems (FISs) to accommodate imprecise data and varying assessor experiences to overcome uncertainty and complexity in the EFQM model. The method was implemented, tested, and verified under real conditions in a regional electricity company. The case was assessed by internal company experts and external assessors from an EFQM business excellence organization, and the model was implemented using Matlab software. When comparing the classical model with the new model, assessors and experts favored outputs from the new model.
    • Remote working in academia: a site of contested identities.

      Lee, Amanda; University of Derby (British Academy of Management, 2018-09-01)
      This development paper discusses the affects and impact of formalised remote (location-independent) working on notions and construction of academic identity. Data is drawn from a six year longitudinal ethnographic study exploring the lived experiences of location-independent and office-based academics. Findings suggest academic identities are being dynamically recreated, with a more or less conscious awareness of how this is being done. The organisational decision to formalise location-independent working (LIW) led to a distinct group of academics identifying themselves as ‘LIW’ and office-based academics identifying themselves as distinct from their LIW colleagues. The dynamic interplay between LIW and office-based academics resulted in contested identities between these two groups. Despite these manufactured and socially constructed divisions, both groups identified strongly with the notion of an overarching academic identity. As such, the notion of academic identity was not contested, but it was seen as threatened and, potentially weakened, by the prevailing managerialist culture.
    • A typology of environmental capabilities of SMEs: uncovering capabilities for a transition towards sustainability.

      Baranova, Polina; University of Derby (British Academy of Management, 2018-09-05)
      The transition to a low carbon economy demands new business strategies for maintaining competitiveness, benefiting from and contributing towards the ‘clean’ growth. An ongoing study of the regional SMEs operating in the East Midlands reveals the patterns in which SMEs approach capability building towards sustainability. This developmental paper presents a conceptual view of how these patterns can be theorised and empirically tested further. The paper outlines a theoretical avenue aiming to further our understanding about environmental capabilities. The paper concludes with a number of practical recommendations towards developing environmental capabilities of SMEs in the context of a transition towards sustainability.
    • The contemporary corporate tax strategy environment.

      Hogsden, Juliet; University of Derby (Palgrave Macmillan, 2018-06)
      Corporation tax is a material cost for companies. As part of their fiduciary duty to shareholders, directors need to establish corporate tax strategies (CTS) that minimise this cost. This was the traditional focus of the companies’ CTS. It is now no longer the only consideration. The contemporary corporation tax environment is much more complex. Compliance requirements are more demanding with a greater risk of default, particularly where companies operate across tax jurisdictions. Simultaneously globalisation has opened up rich new tax planning opportunities, but the aggressive exploitation of such opportunities has led to an intense public scrutiny, demanding companies pay their ‘fair share’ of tax, threatening companies’ reputation and brand. This chapter examines the need for companies to adopt a CTS that not only manages their corporation tax cost, but also the compliance requirements, as well as demonstrating the company pays a ‘fair share of tax’.
    • Students’ learning experience in flipped classes using social media.

      Talaei-Khoei, Amir; Daniel, Jay; Dokhanchi, Mohsen; University of Nevada; University of Derby; University of Queensland (Association for Information Systems, 2018-08-16)
      The current work aims at deploying Facebook as a social media site to improve students’ learning experience with the flipped learning materials through implementation of a socially enabled peer and selflearning environment. Provided the body of literature on poor students’ experience in flipped classes, the paper implements an experiment comparing the online quizzes and Facebook to improve students’ experience with the online materials in flipped classes. The study looks at the students’ perceptions. The paper provides recommendations to the instructors on how to use Facebook to improve students’ experience with the flipped materials. This study also motivates teaching practitioners in Information Systems to improve flipped learning by using social networking sites in their courses.
    • Contemporary issues in accounting - An introduction

      Byrne, Darren; University of Derby (Palgrave Macmillan, 2018-06-01)
      This introductory chapter highlights developing challenges and opportunities that are likely to impact on the accounting professional in the foreseeable future. A professional career requires the modern accountant or finance expert to contribute to much more than just the numbers. This chapter outlines how the book is split into two sections; the first section covering external environmental challenges, and the second section covering the accounting profession's response. Each chapter can be used as standalone introductory pieces upon ‘hot topics’. Whilst the book is aimed at supporting undergraduate and masters students upon a range of university courses in accounting, finance and business, it can also aid students studying for professional accounting qualifications and provides useful teaching material for academics in 'contemporary issues' style modules.
    • Should we expect exemplary integrated reporting to increase organisational ESG ratings?

      Conway, Elaine; University of Derby (Springer, 2018-07-03)
      The aim of this chapter is to assess whether firms which have been recognised for exemplary integrated reporting () should see an increase in their Environmental, Social and Governance (ESG) ratings, or indeed, whether firms that rate highly for their ESG performance manage to produce exemplary integrated reports. Studying 111 firms worldwide recognised for their excellent , the number of accolades awarded was estimated against their ESG ratings over six years from 2012–2017. The reverse relationship was also explored, together with regressions using the determinants of the CSR score; environmental, social and governance. Finally a necessary condition analysis (NCA) was carried out to ascertain whether having a good ESG score is a prerequisite for producing an exemplary integrated report (and vice versa). There appears to be no correlation between companies producing exemplary  and their ESG ratings; nor indeed the reverse. However, there was some evidence that firms producing exemplary  have higher governance scores and in turn, higher governance scores appear linked to more exemplary . There were no findings for the other two determinants of ESG (environmental and social). There was also no indication that having a good ESG score is a prerequiste for producing an exemplary integrated report based on the NCA. This chapter is of interest to practitioners and academics since it is the first study to consider whether there is a link between exemplary  and highly rated ESG scores. It is also the first study to use the novel methodology of NCA in this arena to determine whether one ( or high ESG scores) is a prerequisite for the other. Given the relative low numbers of firms using  the results may lack generalisability, however the results are positive in that firms are not constrained by having to produce an exemplary integrated report in order to increase ESG ratings, should this be a corporate objective.