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Non-financial Performance of Energy Companies Listed on the Bucharest Stock Exchange and Relevance for Stakeholders

In: Digitalization and Big Data for Resilience and Economic Intelligence

Author

Listed:
  • Puime Felix

    (University of A Coruña)

  • Panait Mirela

    (Petroleum-Gas University of Ploiești
    Institute of National Economy)

  • Andrei Jean Vasile

    (Petroleum-Gas University of Ploiești)

  • Gigauri Iza

    (St. Andrews Georgian University)

Abstract

Sustainable development is a complex process that requires the concerted effort of various categories of stakeholders. Companies have become aware of the role they can play in the transition to the green economy, which is why they are voluntarily involved in various CSR programs. In addition, economic agents try to provide the most complete information of their financial and non-financial performance so that stakeholders have a broader picture of the efforts of companies not only to maximize profit for shareholders, but also the value created for society in general. Starting from these considerations, the article proposes the analysis of the non-financial performances of the companies in the energy sector listed on the Bucharest Stock Exchange. These companies show a responsible attitude toward the environment and society, trying to mitigate the negative externalities generated by the production activity. Extensive information is presented in sustainability reports, with companies trying to carry out systematic consultation and sustained information of the stakeholders considering the character of public companies and the provisions of the European directive on the disclosure of non-financial information. Therefore, the social and environmental behavior of the companies in the energy sector has substantially improved under the pressure of different categories of stakeholders and under the influence of certain European regulations transposed in the Romanian legislation. However, the analysis revealed a differentiated behavior of these companies despite the fact that they belong to the same field of activity, they are listed companies and, in general, the state is the majority shareholder.

Suggested Citation

  • Puime Felix & Panait Mirela & Andrei Jean Vasile & Gigauri Iza, 2022. "Non-financial Performance of Energy Companies Listed on the Bucharest Stock Exchange and Relevance for Stakeholders," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Mihaela Kelemen (ed.), Digitalization and Big Data for Resilience and Economic Intelligence, pages 183-201, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-93286-2_14
    DOI: 10.1007/978-3-030-93286-2_14
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    Citations

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    Cited by:

    1. Zbysław Dobrowolski & Grzegorz Drozdowski & Mirela Panait & Simona Andreea Apostu, 2022. "The Weighted Average Cost of Capital and Its Universality in Crisis Times: Evidence from the Energy Sector," Energies, MDPI, vol. 15(18), pages 1-15, September.
    2. Catalin Popescu & Eglantina Hysa & Alba Kruja & Egla Mansi, 2022. "Social Innovation, Circularity and Energy Transition for Environmental, Social and Governance (ESG) Practices—A Comprehensive Review," Energies, MDPI, vol. 15(23), pages 1-28, November.

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