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Disclosure Dynamics and Non-Financial Reporting Analysis. The Case of Romanian Listed Companies

Author

Listed:
  • Mărioara Beleneși

    (Department of Finance and Accounting, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania)

  • Victoria Bogdan

    (Department of Finance and Accounting, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania)

  • Dorina Nicoleta Popa

    (Department of Finance and Accounting, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania)

Abstract

New challenges and perspectives to improve non-financial reporting and the disclosure of environmental, social, and governance indicators have been launched towards the development horizon of Romanian public interest entities, implementing the provisions of Directive 2014/95/EU in the local regulatory framework. In this context, our approach focused on the content analysis of the non-financial information reported by listed companies, for the period 2017–2019, and the measure of the average disclosure degree on environmental, social, economic, and governance (ESEG) indicators. To measure the average degree of disclosure, a composite index was constructed through the main component analysis for categorical data that allowed the classification of sampled companies by sustainable performance. The results showed a slight increase in the ESEG disclosure index at the level of the sampled companies, from 47 units in 2017 to 52 units in 2019, several companies “went ahead” and others “recovered over the period”. Cross-sectional analysis revealed differences in the average non-financial disclosure index, and also in the disclosure index of ESEG indicators. The non-parametric correlation analysis highlighted the existence of a statistically significant positive correlation of medium intensity between the disclosure index of non-financial information and the publication of the non-financial statement or report.

Suggested Citation

  • Mărioara Beleneși & Victoria Bogdan & Dorina Nicoleta Popa, 2021. "Disclosure Dynamics and Non-Financial Reporting Analysis. The Case of Romanian Listed Companies," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:9:p:4732-:d:541905
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    Cited by:

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    2. Tiziana De Cristofaro & Carmela Gulluscio, 2023. "In Search of Double Materiality in Non-Financial Reports: First Empirical Evidence," Sustainability, MDPI, vol. 15(2), pages 1-30, January.
    3. Razvan HOINARU & Daniel BUDA & Jonel SUBIC & Adela JANSEN, 2023. "Financial and Non-Financial Disclosures for Agriculture: is there any Connection in between GRI 13 and IAS 41?," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 24(2), pages 158-172, May.
    4. Carmen SCORȚE & Daniela ZĂPODEANU & Luminița RUS, 2021. "Reflection Of The Pandemic Crisis Effects In The Financial Reports. An Outlook On Horeca Industry," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(23), pages 1-7.

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