Using the Hofstede-gray Framework to Argue Normatively for an Extension of Islamic Corporate Reports
Baydoun and Willet (2000) suggest that the inclusion of the current value balance sheet and the value added statement in Islamic corporate reporting may be considers as satisfying the concepts of full disclosure and social accountability in Islam. Using the Hifstede-Gray framework, this paper provides theoretical support for Baydoun and Willet's (2000) Islamic corporate reporting model and also extends the model to include the reporting of the social and environmental aspects of the enterprise. What constitute social reporting from Islam's perspective is developed from the Shari'a and the list of economic, social and environmental indicators proposed by the Global Reporting Initiative.

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