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Assessing the Benefits of the Sustainability Reporting Practices in the Top Romanian Companies

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  • Anca Gabriela Petrescu

    (Faculty of Economic Sciences, Valahia University, 130024 Targoviste, Romania)

  • Florentina Raluca Bîlcan

    (Faculty of Economic Sciences, Valahia University, 130024 Targoviste, Romania)

  • Marius Petrescu

    (Faculty of Economic Sciences, Valahia University, 130024 Targoviste, Romania)

  • Ionica Holban Oncioiu

    (Faculty of Finance-Banking, Accounting and Business Administration, Titu Maiorescu University, 040051 Bucharest, Romania)

  • Mirela Cătălina Türkeș

    (Faculty of Finance, Banking and Accountancy, Dimitrie Cantemir Christian University, 040051 Bucharest, Romania)

  • Sorinel Căpuşneanu

    (Faculty of Finance-Banking, Accounting and Business Administration, Titu Maiorescu University, 040051 Bucharest, Romania)

Abstract

The concept of sustainability reporting has been addressed by experts worldwide and is defined as the process of communicating the social and environmental effects of the economic actions of organizations to special interest groups within society in general. The main purpose of this research was to identify and analyze the opinions of the real benefits obtained by large companies in Romania following the elaboration of sustainability reports and their contribution to the development of a sustainable economy. A quantitative marketing research was carried out on the sample randomly extracted from a target community of the largest 5750 companies across 35 counties that were active in strategic priority areas of Romania. Both explicitly and implicitly, the research resulted in essential aspects related to the correlation of the sustainability strategy with sustainability reporting, how sustainable development goals contribute to improving all of the processes included in the integrated company management system, how the internal and external benefits can contribute to increasing economic, social, and environmental performance, and building sustainable relationships with shareholders, employees, and stakeholders. In addition, the findings show that aligning a sustainability strategy with a global business strategy and including sustainability reporting requirements (non-financial) are important concerns at the level of the top companies in Romania.

Suggested Citation

  • Anca Gabriela Petrescu & Florentina Raluca Bîlcan & Marius Petrescu & Ionica Holban Oncioiu & Mirela Cătălina Türkeș & Sorinel Căpuşneanu, 2020. "Assessing the Benefits of the Sustainability Reporting Practices in the Top Romanian Companies," Sustainability, MDPI, vol. 12(8), pages 1-31, April.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:8:p:3470-:d:349772
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    6. Isaac Monday Ikpor & Enrico Bracci & Clementina Iruka Kanu & Riccardo Ievoli & Benedette Okezie & Sunday Mlanga & Charles Ogbaekirigwe, 2022. "Drivers of Sustainability Accounting and Reporting in Emerging Economies: Evidence from Nigeria," Sustainability, MDPI, vol. 14(7), pages 1-19, March.
    7. Mirela Panait & Irina Radulescu & Alina Brezoi, 2020. "Financial Markets – Under the Sign of CSR. Some Evidences Regarding Financial Education," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 11, pages 96-106, Editura Lumen.
    8. Graziella Sicoli & Pietro Iaquinta & Dominga Anna Ippolito, 2022. "The new frontiers of sustainable development and SDGS. A content analysis," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 76(3), pages 17-28, July-Sept.
    9. Elías Domingo‐Posada & Pilar L. González‐Torre & Marta M. Vidal‐Suárez, 2024. "Sustainable development goals and corporate strategy: A map of the field," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2733-2748, July.

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