Final answer:
The movement for firms to generate integrated reports has not lost momentum, as the trend towards transparency continues to gain global importance due to increasing competition and market dynamics reshaped by globalization.
Step-by-step explanation:
The statement that the movement for firms to generate integrated reports has lost momentum across many parts of the world is generally considered false. The trend towards integrated reporting, which encompasses financial, environmental, social, and governance information, has been gaining traction as businesses recognize the benefits of transparency and accountability. In light of increasing globalization, companies are facing more competition internationally, which is reshaping market dynamics and industry concentration. For example, where the American auto industry was once dominated by a few major firms, now foreign competitors like Toyota and Volkswagen are significant players.
These changes in the competitive landscape underscore the importance of integrated reporting. Firms have a broader range of stakeholders to consider, including international investors, customers, and regulatory bodies. The drive for integrated reports is further powered by investors seeking more comprehensive insights into a company's operations and risks. Additionally, there have been instances where industries have shifted production overseas to take advantage of different economic factors, as seen with the majority of flat-panel display production moving out of the United States.
Therefore, while some regions might experience ebbs and flows in the adoption of integrated reporting practices, the global momentum for such reporting is maintained by the imperative to operate within a competitive international market.