IDEAS home Printed from https://ideas.repec.org/a/aes/amfeco/vs10y2016i18p1015.html
   My bibliography  Save this article

(Non)Financial Reporting (A)Symmetries in the Case of Amusement Parks in Europe

Author

Listed:
  • Daniela Artemisa Calu

    (Bucharest University of Economic Studies)

  • Madalina Dumitru

    (Bucharest University of Economic Studies)

  • Mariana Elena Glavan
  • Raluca Gina Gu?e

    (Bucharest University of Economic Studies)

Abstract

Financial and non-financial reporting concerns in various industries are current challenges. With respect to tourism – the case of amusement parks – the existing research is scarce. In this context, the objectives of our research are the following: (i) to identify and critically analyse the key financial and non-financial reporting frameworks applicable in tourism, and respectively (ii) to identify the general trend and specific features of the financial and non-financial reporting of companies that manage major amusement parks in Europe. To achieve these objectives, we analysed the most recent sets of annual reports and other reports containing non-financial information, published by a number of five companies that hold the top 20 amusement parks in Europe. We followed a set of non-financial indicators that we selected based on the following reporting frameworks: Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), European Federation of Financial Analysts (EFFAS), Organisation for Economic Co-operation and Development (OECD), European Tourism Indicators System (ETIS). The results obtained indicate the following existing trends: (i) in terms of financial reporting, there is symmetry for four of the 13 analysed aspects, others being reported differently and (ii) in terms of non-financial reporting, the degree of symmetry for the information disclosed is much lower that of financial reporting, only two of the 46 selected non-financial indicators (customer satisfaction and number of customers) being consistently reported by all the investigated companies.

Suggested Citation

  • Daniela Artemisa Calu & Madalina Dumitru & Mariana Elena Glavan & Raluca Gina Gu?e, 2016. "(Non)Financial Reporting (A)Symmetries in the Case of Amusement Parks in Europe," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 18(S10), pages 1015-1015, November.
    • Handle: RePEc:aes:amfeco:v:s10:y:2016:i:18:p:1015
    as

    Download full text from publisher

    File URL: http://www.amfiteatrueconomic.ro/temp/Article_2584.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Daniela Artemisa CALU & Madalina DUMITRU & Ileana Cosmina PITULICE & Viorel AVRAM & Aurelia STEFANESCU & Andreea PONORÎCA, 2009. "A Research On The Financial Disclosure Choices Within Listed Companies," The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration, vol. 9(1(9)), pages 209-218, June.
    2. Adriana Dutescu & Adriana Florina Popa & Andreea Gabriela Ponorîca, 2014. "Sustainability of the Tourism Industry, Based on Financial Key Performance Indicators," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(Special 8), pages 1048-1048, August.
    3. Erlend Kvaal & Christopher Nobes, 2010. "International differences in IFRS policy choice: A research note," Accounting and Business Research, Taylor & Francis Journals, vol. 40(2), pages 173-187.
    4. Mădălina Dumitru & Mariana Elena Glăvan & Cătălina Gorgan & Valentin Florentin Dumitru, 2013. "International Integrated Reporting Framework: A Case Study In The Software Industry," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-2.
    5. Patrycja Habek, 2013. "Analysis Of The European Union Regulatory Requirements With Implications For Sustainability Reporting," Annals - Economic and Administrative Series -, Faculty of Business and Administration, University of Bucharest, vol. 7(1), pages 23-42, December.
    6. Adriana Calu & Costel Negrei & Daniela Artemisa Calu & Viorel Avram, 2015. "Reporting of Non-Financial Performance Indicators – a Useful Tool for a Sustainable Marketing Strategy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(40), pages 977-977, August.
    7. Gabriela Carmen Pascariu & Ramona Tiganasu, 2014. "Tourism and Sustainable Regional Development in Romania and France: an Approach from the Perspective of New Economic Geography," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(Special 8), pages 1089-1089, August.
    8. Alain Dupeyras & Neil MacCallum, 2013. "Indicators for Measuring Competitiveness in Tourism: A Guidance Document," OECD Tourism Papers 2013/2, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ioana Sofian & Mădălina Dumitru, 2017. "The Compliance of the Integrated Reports Issued by European Financial Companies with the International Integrated Reporting Framework," Sustainability, MDPI, vol. 9(8), pages 1-16, July.
    2. Viorel Avram & Daniela Artemisa Calu & Valentin Florentin Dumitru & Mădălina Dumitru & Mariana Elena Glăvan & Gabriel Jinga, 2018. "The Institutionalization of the Consistency and Comparability Principle in the European Companies," Energies, MDPI, vol. 11(12), pages 1-24, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gabriel Brătucu & Codruța Adina Băltescu & Nicoleta Andreea Neacșu & Dana Boșcor & Ovidiu Mircea Țierean & Anca Madar, 2017. "Approaching the Sustainable Development Practices in Mountain Tourism in the Romanian Carpathians," Sustainability, MDPI, vol. 9(11), pages 1-20, November.
    2. Oleh Pasko & Mykola Hordiyenko & Fuli Chen & Yarmila Tkal & Yulia Abraham, 2021. "Mapping Global Research on International Financial Reporting Standards: A Scientometric Review," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 116-134, May.
    3. Bojan KRSTIĆ & Sonja JOVANOVIC & Tanja STANISIC, 2014. "Central And East European Countries’ Tourism Competitiveness As A Factor Of Their National Competitiveness Level," Revista de turism - studii si cercetari in turism / Journal of tourism - studies and research in tourism, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 18(18), pages 61-68, December.
    4. Ionela Corina Chersan & Valentin Florentin Dumitru & Cãtãlina Gorgan & Vasile Gorgan, 2020. "Green Public Procurement in the Academic Literature," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(53), pages 1-82, February.
    5. Oleg PETELCA & Ciprian-Constantin PĂTRĂUCEANU & Veronica GARBUZ & Iurie BEȘLIU, 2023. "Analysis Of Travel And Tourism Competitiveness Index In Eastern Partnership Countries," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 32(1), pages 235-349, July.
    6. Salinas Fernández, José Antonio & Guaita Martínez, José Manuel & Martín Martín, José María, 2022. "An analysis of the competitiveness of the tourism industry in a context of economic recovery following the COVID19 pandemic," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    7. Rezhen Harun & Gabriela O. Chiciudean & Kawan Sirwan & Felix H. Arion & Iulia C. Muresan, 2018. "Attitudes and Perceptions of the Local Community towards Sustainable Tourism Development in Kurdistan Regional Government, Iraq," Sustainability, MDPI, vol. 10(9), pages 1-13, August.
    8. Silvia Rossetti & Roberto Verona, 2017. "International Differences in IFRS Policy Choice and the Persistence of Accounting Classification: The Case of China," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(2), pages 1-27, January.
    9. Bogdan-Constantin Ibănescu & Oana Mihaela Stoleriu & Alina Munteanu & Corneliu Iațu, 2018. "The Impact of Tourism on Sustainable Development of Rural Areas: Evidence from Romania," Sustainability, MDPI, vol. 10(10), pages 1-19, October.
    10. Petaibanlue, Jirada & Walker, Martin & Lee, Edward, 2015. "When did analyst forecast accuracy benefit from increased cross-border comparability following IFRS adoption in the EU?," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 278-291.
    11. Palea, Vera, 2014. "Are IFRS value-relevant for separate financial statements? Evidence from the Italian stock market," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 23(1), pages 1-17.
    12. Abdul Majid, Jamaliah, 2015. "Reporting incentives, ownership concentration by the largest outside shareholder, and reported goodwill impairment losses," Journal of Contemporary Accounting and Economics, Elsevier, vol. 11(3), pages 199-214.
    13. Gabriela Carmen Pascariu & Bogdan-Constantin Ibanescu, 2018. "Determinants and Implications of the Tourism Multiplier Effect in EU Economies. Towards a Core-Periphery Pattern?," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(S12), pages 982-982, November.
    14. Elkins, Hamilton & Entwistle, Gary, 2018. "A commentary on accounting standards and the disclosure problem: Exploring a way forward," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 33(C), pages 79-89.
    15. Al Mabsali, Yousuf Khamis & Hayward, Robert & Eliwa, Yasser, 2021. "Managerial tools used to meet or beat analyst forecasts: Evidence from the UK," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 43(C).
    16. Naoko C. Kojo, 2015. "Demystifying Dutch Disease," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-23.
    17. Paola Vola & Lorenzo Gelmini, 2022. "Climate change skills for the new CFOs. A preliminary analysis on TCFD by Italian listed companies," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2022(2 Suppl.), pages 189-209.
    18. Christian Gross, 2016. "The Effect of the German Accounting Law Modernization Act on the Comparability of Private Local GAAP and IFRS Firms," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 17(3), pages 423-460, December.
    19. David Perrain & Philippe Jean-Pierre, 2019. "The smart destination strategy, a key factor for changes in vulnerable tourist destinations? [La stratégie de destination intelligente, facteur clé des mutations des destinations touristiques vulné," Post-Print hal-02144769, HAL.
    20. Ioana Sofian & Mădălina Dumitru, 2017. "The Compliance of the Integrated Reports Issued by European Financial Companies with the International Integrated Reporting Framework," Sustainability, MDPI, vol. 9(8), pages 1-16, July.

    More about this item

    Keywords

    Amusement parks; Europe; financial reporting; non-financial reporting; reporting frameworks.;
    All these keywords.

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aes:amfeco:v:s10:y:2016:i:18:p:1015. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Dumitru (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.