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The impact of the publication of non-financial statements on the financial performance of companies with the identification of intersectoral features

Author

Listed:
  • Alex Borodin

    (Plekhanov Russian University of Economics, Russian Federation)

  • Nataliya Shash

    (Plekhanov Russian University of Economics, Russian Federation)

  • Galina Panaedova

    (North-Caucasus Federal University, Russian Federation)

  • Svetlana Frumina

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Aidyn Kairbekuly

    (Nazarbayev Intellectual School Semey, Kazakhstan)

  • Irina Mityushina

    (Belgorod State University, Russian Federation)

Abstract

Investor expectations, rather than fundamentals, are increasingly influencing the value of a company. At a time when non-financial assets are becoming an important component of determining the value of the company, the disclosure of non-financial statements as a source of more extensive and meaningful information than financial statements, is becoming an increasingly popular topic of discussion of the scientific and business communities. Non-financial reporting includes "various types of external reporting provided by organizations to their stakeholders and covering those aspects of the organizations that go beyond the historical framework of financial performance". The information contained in non-financial reports can help investors form an opinion about the intellectual, financial, natural, human and social capital of the company and make a decision about investing. In the developed world, the publication of non-financial statements has become a common norm, while in Russia only a small proportion of companies still issue this type of reporting. The study of publishing non-financial reports dedicated to both theoretical and empirical literature, most empirical studies showed a positive effect of issue of non-financial reporting on the financial stability of companies. However, these studies do not focus on the impact of the publication of non-financial statements on the financial performance of companies in Russia. The purpose of this article is to study the impact of the publication of non-financial statements on the financial performance of Russian companies with the identification of intersectoral features. As a result of this study, it will be possible to understand how the disclosure of non-financial information affects the financial performance of Russian companies. From a practical point of view, this can help managers of companies in various industries to realize the importance or, conversely, the absence of the need to publish non-financial statements as a factor that can increase the credibility of the company in the eyes of investors and positively affect the financial results.

Suggested Citation

  • Alex Borodin & Nataliya Shash & Galina Panaedova & Svetlana Frumina & Aidyn Kairbekuly & Irina Mityushina, 2019. "The impact of the publication of non-financial statements on the financial performance of companies with the identification of intersectoral features," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1666-1685, December.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:2:p:1666-1685
    DOI: 10.9770/jesi.2019.7.2(61)
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    Cited by:

    1. Ali Sabyrzhan & Gulnara Balgimbekova & Viktor Shestak, 2021. "RETRACTED ARTICLE: Economic and legal regulation of the use and development of renewable energy sources," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 21(4), pages 595-610, December.
    2. AGÂRBICEANU Simona Marcela & PĂUN Tatiana, 2021. "The Need For A Paradigm Shift In Finance: Sustainable Corporate Finance," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(1), pages 33-38, June.
    3. Camelia Oprean-Stan & Ionica Oncioiu & Iulia Cristina Iuga & Sebastian Stan, 2020. "Impact of Sustainability Reporting and Inadequate Management of ESG Factors on Corporate Performance and Sustainable Growth," Sustainability, MDPI, vol. 12(20), pages 1-31, October.
    4. Alexei Yumashev & Beata Ślusarczyk & Sergey Kondrashev & Alexey Mikhaylov, 2020. "Global Indicators of Sustainable Development: Evaluation of the Influence of the Human Development Index on Consumption and Quality of Energy," Energies, MDPI, vol. 13(11), pages 1-13, June.
    5. Oleg ANDREEV & Oksana LOMAKINA & Ariadna ALEKSANDROVA, 2021. "Diversification Of Structural And Crisis Risks In The Energy Sector Of The Asean Member Countries," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 149-160, June.
    6. Ali Veysel, 2022. "Non-Financial Information Disclosures by Bulgarian Listed Companies," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 17-33.

    More about this item

    Keywords

    non-financial reporting; corporate sustainability; corporate social responsibility; non-financial information; cost of the company; financial statements; profitability of assets; sustainable development;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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