IDEAS home Printed from https://ideas.repec.org/a/blg/msudev/v15y2023i1p26-31n4.html
   My bibliography  Save this article

The Impact Of Sustainable Reporting On The Financial Performance Of Energy And Gas Companies Listed On The Bucharest Stock Exchange. An Empirical Approach

Author

Listed:
  • MIHAI Claudia-Larisa

    (Lucian Blaga University of Sibiu)

Abstract

The financial performance of a company whose operating activity has a significant social impact on the environment is influenced by the sustainable reporting of these two indicators, for investors that manifest interest, whose orientation involves sustainable development, being a new economic concept. This research aims to highlight how sustainable reporting has a direct impact on an entity’s performance, by quantifying the environmental variable and the social variable in a scoring matrix, by assigning values based on the completeness of reporting the data found in the reports of 8 entities in the field of energy and the exploitation and transportation of natural gas and oil listed in category I on the Bucharest Stock Exchange, regarding the programs undertaken, the approvals obtained or the quality standards to which they aligned. The research results are based on correlation and regression econometric calculations to identify the correlations between the score variable and financial performance.

Suggested Citation

  • MIHAI Claudia-Larisa, 2023. "The Impact Of Sustainable Reporting On The Financial Performance Of Energy And Gas Companies Listed On The Bucharest Stock Exchange. An Empirical Approach," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 15(1), pages 26-31, June.
  • Handle: RePEc:blg:msudev:v:15:y:2023:i:1:p:26-31:n:4
    DOI: https://doi.org/10.54989/msd-2023-0004
    as

    Download full text from publisher

    File URL: https://msdjournal.org/wp-content/uploads/vol15issue1-4.pdf
    Download Restriction: no

    File URL: https://libkey.io/https://doi.org/10.54989/msd-2023-0004?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kittiya Yongvanich & James Guthrie, 2006. "An extended performance reporting framework for social and environmental accounting," Business Strategy and the Environment, Wiley Blackwell, vol. 15(5), pages 309-321, September.
    2. Stuart L. Hart & Gautam Ahuja, 1996. "Does It Pay To Be Green? An Empirical Examination Of The Relationship Between Emission Reduction And Firm Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 5(1), pages 30-37, March.
    Full references (including those not matched with items on IDEAS)

    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. Florentin Caloian, 2013. "Analysing the sustainability of the entities quoted on the B.S.E. using accounting sustainability measures," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(Special 7), pages 743-758, November.
    2. Denise M. Keele & Susan DeHart, 2011. "Partners of USEPA Climate Leaders: an Event Study on Stock Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 20(8), pages 485-497, December.
    3. Franck Brulhart & Sandrine Gherra & Bertrand V. Quelin, 2019. "Do Stakeholder Orientation and Environmental Proactivity Impact Firm Profitability?," Journal of Business Ethics, Springer, vol. 158(1), pages 25-46, August.
    4. Muhammad Khalid Anser & Zahid Yousaf & Abdul Majid & Muhammad Yasir, 2020. "Does corporate social responsibility commitment and participation predict environmental and social performance?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2578-2587, November.
    5. Evangeline O. Elijido-Ten & Peter Clarkson, 2019. "Going Beyond Climate Change Risk Management: Insights from the World’s Largest Most Sustainable Corporations," Journal of Business Ethics, Springer, vol. 157(4), pages 1067-1089, July.
    6. Wang, Moran & Li, Xuerong & Wang, Shouyang, 2021. "Discovering research trends and opportunities of green finance and energy policy: A data-driven scientometric analysis," Energy Policy, Elsevier, vol. 154(C).
    7. Marcello Risitano & Rosaria Romano & Vincenzo Rusciano & Gennaro Civero & Debora Scarpato, 2022. "The impact of sustainability on marketing strategy and business performance: The case of Italian fisheries," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1538-1551, May.
    8. Julie Dekker & Tim Hasso, 2016. "Environmental Performance Focus in Private Family Firms: The Role of Social Embeddedness," Journal of Business Ethics, Springer, vol. 136(2), pages 293-309, June.
    9. Eng, Li Li & Fikru, Mahelet G. & Vichitsarawong, Thanyaluk, 2021. "The impact of toxic chemical releases and their management on financial performance," Advances in accounting, Elsevier, vol. 53(C).
    10. Myoungjin Oh & Jungwoo Shin & Pil‐Ju Park & Sunmee Kim, 2020. "Does eco‐innovation drive sales and technology investment? Focusing on eco‐label in Korea," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3174-3186, December.
    11. Enrico Bracci & Mouhcine Tallaki, 2013. "Socio-environmental reporting trends in the Italian local government: Thrive or wither?," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2013(2), pages 27-46.
    12. Marcus Wagner, 2004. "The Porter Hypothesis Revisited: A Literature Review of Theoretical Models and Empirical Tests," Public Economics 0407014, University Library of Munich, Germany.
    13. Abdul Majid & Muhammad Yasir & Muhammad Yasir & Asad Javed, 2020. "Nexus of institutional pressures, environmentally friendly business strategies, and environmental performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(2), pages 706-716, March.
    14. Stefan Ambec & Paul Lanoie, 2007. "When and Why Does It Pay To Be Green?," CIRANO Working Papers 2007s-20, CIRANO.
    15. Hannu Schadewitz & Mikael Niskala, 2010. "Communication via responsibility reporting and its effect on firm value in Finland," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 17(2), pages 96-106, March.
    16. Francesco Gangi & Eugenio D'Angelo & Lucia Michela Daniele & Nicola Varrone, 2021. "Assessing the impact of socially responsible human resources management on company environmental performance and cost of debt," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(5), pages 1511-1527, September.
    17. Berrone, Pascual & Gelabert, Liliana & Fosfuri, Andrea & Gomez-Mejia, Luis R., 2007. "Can institutional forces create competitive advantage? An empirical examination of environmental innovation," IESE Research Papers D/723, IESE Business School.
    18. Hidemichi Fujii & Kazuyuki Iwata & Shinji Kaneko & Shunsuke Managi, 2013. "Corporate Environmental and Economic Performance of Japanese Manufacturing Firms: Empirical Study for Sustainable Development," Business Strategy and the Environment, Wiley Blackwell, vol. 22(3), pages 187-201, March.
    19. James J. Cordeiro & Giorgia Profumo & Ilaria Tutore, 2021. "Family ownership and stockholder reactions to environmental performance disclosure: A test of secondary agency relationships," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2091-2107, May.
    20. Qian, Wei & Schaltegger, Stefan, 2017. "Revisiting carbon disclosure and performance: Legitimacy and management views," The British Accounting Review, Elsevier, vol. 49(4), pages 365-379.

    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:blg:msudev:v:15:y:2023:i:1:p:26-31:n:4. 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: Camelia Oprean-Stan (email available below). General contact details of provider: https://edirc.repec.org/data/feulbro.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.