The Annual Report is regarded as a central instrument of capital market communication and informs stakeholders about the company's business performance. Thereby, the annual report must meet a wide range of demands, both in form and content. By analyzing the online annual reports of recent years, current trends can be derived.
The study was conducted by the Center for Research in Financial Communication in collaboration with Neidhart + Schön, Zurich, and the Center for Corporate Reporting (CCR). It examines the developments of the online annual report as an instrument of investor relations in Germany and Switzerland. In particular, attention was paid to how content, formats and digital reporting features have evolved.
The key messages of the study are summarized below.