Towards public value-centric non-financial reporting: establishing a conceptual foundation

This book chapter responds to the growing recognition that current non-financial reporting (NFR) practices are insufficient in capturing the full spectrum of a corporation’s external impacts. Drawing upon the emerging discourse on public value (PV) and the inherent ‘publicness’ of corporations, we propose a conceptual framework for integrating PV principles into NFR. The research is relevant by considering the concept of ‘publicness’ in which all organisations, including companies, create important impacts on the society. Building on three distinct streams of PV research, we delineate the components of PV reporting and address key questions of why, what, and who to report. Our framework emphasises the importance of considering the broader societal implications of corporate activities and highlights the need for transparency and accountability in reporting practices. While not offering a prescriptive solution, this framework serves as a fundamental step towards more comprehensive and nuanced PV reporting guidance, calling for further research and validation. This chapter aims to provide practitioners with insights into evaluating and understanding the multifaceted nature of corporate external impacts, facilitating informed decision-making.