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Integrated Reporting: The Relevance of Connectivity in Intellectual Capital Disclosures for Market Valuation

Year: 2026

Type: article

Abstract: ABSTRACT We study the relevance of connectivity for market valuation. Connectivity describes the degree to which disclosures reflect interrelations between value drivers that help investors better understand the firm's value creation process. We analyze disclosures on the three intellectual capitals, their interactions, and a self‐constructed connectivity score that captures the degree to which disclosures reveal connections within the IC components and with the value creation process. We find significant associations between market value and the interactions of IC capital disclosures as well as our connectivity score. We also find an increase in market value explanatory power in the degree of connectivity.

Source: Managerial and Decision Economics

DOI: 10.1002/mde.70091

Authors: Christine Reitmaier, Wolfgang Schultze, Nadine Zbiegly

Institution: University of Augsburg

Language: English

Topic: Intellectual Capital and Performance Analysis

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $3,120

OpenAlex ID: W7135016936

FWCI: 12.61

Cites: 146

Cited by: 2

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