Integrated Reporting as a Path to Value: The Moderating Role of CEO Integrity from the Indian Perspective

Abstract

This study determines the role of integrated reporting (Int_Re) in affecting firm value and investigates how CEO integrity (CEOI) moderates this effect among firms listed on the Indian stock exchange. The sample consists of 150 firms listed on the Indian stock exchange who published an integrated report between the years of 2018–19 and 2022–23. This study relies on secondary data from company websites. The outcome of the multiple regression analysis reveals that there is a significant positive influence of Int_Re on firm value. The analysis also found that CEOI strengthens the relationship between Int_Re and firm value, attributable to ethical leadership exhibited by the CEO. There are some future practical implications that the study proposes: Indian firms need to engage in Int_Re practices to a greater extent; firms need to encourage ethical leadership at the executive level consistent with Int_Re; supervisory boards are limited by an obligation to monitor Int_Re adoption and CEO performance to keep the organization in line with its commitments to transparency, character, and sustainable value creation in the changing corporate governance landscape in India.