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The Stage of Non-financial Reporting in Romania

In: Contemporary Issues in Social Science

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  • Nicoleta-Daniela Milu
  • Camelia-Daniela Hategan

Abstract

Introduction:Nonfinancial reporting is the way in which a company provides information to stakeholders on the social, environmental, and economic impact and performance of its past and present activities.Aim:The objective of the chapter is to analyze the stage and the way of implementation of the requirements of the Non-Financial Reporting Directive by the Romanian companies.Method:In order to carry out the study, we analyzed, structured, and synthesized the public information in order to identify companies that have the obligation to report, thus 721 companies were identified with more than 500 employees on December 31, 2019.Results:The main identified characteristics of the companies consisted in the fact that most of them carried out the activity in the manufacturing industry, had their headquarters in the Bucharest-Ilfov region, most of the companies operating according to Company Law were not listed on the stock exchange. Regarding the financial indicators, 81% of companies registred profit and 52% had a turnover of more than 50 million euros. Regarding the manner of application of the Directive requirements, from the analyzed sample of 22 companies listed on the stock exchange, it was found that 41% of the companies chose to present the nonfinancial information in a separate report.Conclusion:The level of compliance with reporting requirements is still uncertain, as for most companies the information are not public, only listed companies are concerned with improving reporting.İmplications and Originality of the Chapter:The study may be a benchmark in further analysis of the transparency of nonfinancial information conducted by companies and may help in future analysis of their evolution over time.

Suggested Citation

  • Nicoleta-Daniela Milu & Camelia-Daniela Hategan, 2021. "The Stage of Non-financial Reporting in Romania," Contemporary Studies in Economic and Financial Analysis, in: Contemporary Issues in Social Science, volume 106, pages 327-340, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920210000106020
    DOI: 10.1108/S1569-375920210000106020
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    Keywords

    Nonfinancial reporting; disclosure; transparency; sustainability; development regions; Romania; M14; M40; M49;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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