Encompassing Non-Financial Reporting in A Coercive Framework for Enhancing Social Responsibility: Romanian Listed Companies’ Case
This study investigates the disclosure levels of Romanians listed companies’ pre and post the implementation of the European Directive 2014/95 (EUD) in order to explore the effects of the new regulation entered into force in January 2017, under the institutional lens. Moreover, the paper emphasis...
Main Authors: | , , , |
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Format: | Article |
Language: | English |
Published: |
Academy of Economic Studies of Bucharest
2019-08-01
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Series: | Amfiteatru Economic |
Subjects: | |
Online Access: | http://www.amfiteatrueconomic.ro/temp/Article_2841.pdf |
Summary: | This study investigates the disclosure levels of Romanians listed companies’ pre and post
the implementation of the European Directive 2014/95 (EUD) in order to explore the
effects of the new regulation entered into force in January 2017, under the institutional lens.
Moreover, the paper emphasises whether Romanian Energy (Oil & Gas and Utilities) listed
companies are delineating, in their reports, issues regarding environmental, social, and
governance (ESG) aspects. The empirical research performed throughout a pre/post effect
analysis of the level of non-financial disclosure, followed by an exploration of its
determinants using the Paired-samples t-test and regression analysis enable us to demonstrate
a slight increasing in disclosure level, after the entry into force of the EUD. Moreover,
Energy companies who are the most challenged by the bio-economy trend, demonstrated a
considerable increasing in terms of disclosure as well as focused and awareness about ESG
issues. Research findings lead to an effort increasing in order to satisfy EUD requirements,
information are useful to practitioners and policy makers. According to authors best
knowledge this is the first assessment of disclosure levels and its determinant pre and post
directive adoption in the Romanian case, which can result useful to appreciate the effect of
the EUD. |
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ISSN: | 1582-9146 2247-9104 |