Importance of digital annual reports

Abstract

The on-line annual report is usually located on the corporate Web site under the investor relations section, company information section or financial information section (Petravick 1999:36). Annual reports are undergoing a profound transformation on the Web. The boundaries of Web-based annual reports are dynamic and becoming less distinct, giving the user many viewing options and formats. The transformation is a result of companies increasingly serving the business needs of virtual global communities. Hedlin (1999:373) identifies three distinct evolutionary stages in the development of an annual report on corporate Web sites. These are summarized below.