IFRS 16:s inverkan på svenska storbolags utformning av nyckeltal som prestationsmål samt deras externa kommunikation rörande dessa förändringar

Abstract

Background: The implementation of IFRS 16 in 2019 represented a paradigm shift in financial reporting, forcing firms to capitalize almost all operating leases on the balance sheet. While intended to increase transparency, it drastically altered key financial performance measures overnight without any changes to the underlying operations. Purpose: This study examines the impact of IFRS 16 on the design of financial key performance indicators used as performance targets by large Swedish listed firms, and analyzes their external communication strategies regarding these changes. Method: A mixed-methods approach was adopted, combining a quantitative analysis of balance sheet impacts with a qualitative content analysis of annual reports from 16 firms across five highly affected industries. Results: The findings demonstrate a clear correlation between the quantitative lease intensity and the extent of rhetorical legitimation. Highly impacted firms actively engaged in legitimation strategies, including adjusting target levels, introducing alternative performance measures excluding IFRS 16, and placing explanatory disclosures in prominent sections like the CEO statement or the management report to influence stakeholder perceptions. Conclusion: The study concludes that firms strategically utilize structural and rhetorical disclosures in financial reporting to maintain organizational legitimacy and protect their social contract with capital markets when structural accounting changes threaten financial metrics.