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Encompassing Non-Financial Reporting in A Coercive Framework for Enhancing Social Responsibility: Romanian Listed Companies’ Case

Author

Listed:
  • Adriana Tiron-Tudor

    (Babeº-Bolyai University, Cluj-Napoca, Romania)

  • Cristina Silvia Nistor

    (Babeº-Bolyai University, Cluj-Napoca, Romania)

  • Cristina Alexandrina ªtefãnescu

    (Babeº-Bolyai University, Cluj-Napoca, Romania)

  • Gianluca Zanellato

    (Babeº-Bolyai University, Cluj-Napoca, Romania)

Abstract

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.

Suggested Citation

  • Adriana Tiron-Tudor & Cristina Silvia Nistor & Cristina Alexandrina ªtefãnescu & Gianluca Zanellato, 2019. "Encompassing Non-Financial Reporting in A Coercive Framework for Enhancing Social Responsibility: Romanian Listed Companies’ Case," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(52), pages 590-590, August.
    • Handle: RePEc:aes:amfeco:v:21:y:2019:i:52:p:590
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    References listed on IDEAS

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    Cited by:

    1. Adriana TIRON-TUDOR & Teodora Viorica FĂRCAŞ & Ioana DRAGU & Ecaterina Monica MOISE, 2020. "The Road to Transposing the Non-Financial Reporting EU Directive within the Romanian Context – The 2013-2020 Period," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(6), pages 63-72, June.
    2. Giuseppe Nicolò & Gianluca Zanellato & Adriana Tiron-Tudor, 2020. "Integrated Reporting and European State-Owned Enterprises: A Disclosure Analysis Pre and Post 2014/95/EU," Sustainability, MDPI, vol. 12(5), pages 1-17, March.
    3. Adriana TIRON-TUDOR & Teodora Viorica FĂRCAŞ & Ioana DRAGU & Ecaterina Monica MOISE, 2020. "Non-Financial Reporting in Romania in the pre-Directive 2014/95/EU Period (1990-2013)," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 0(5), pages 63-72, May.
    4. Cătălina Silvia Crișan-Mitra & Liana Stanca & Dan-Cristian Dabija, 2020. "Corporate Social Performance: An Assessment Model on an Emerging Market," Sustainability, MDPI, vol. 12(10), pages 1-21, May.
    5. VASIU Diana Elena, 2023. "Environmental, Social And Governance Performance On The Romanian Capital Market," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 15(2), pages 80-86, December.
    6. Ruitao Li & Fang Hu, 2020. "Public Listing and Corporate Social Responsibility from a Sustainability Risk Management Perspective," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(55), pages 808-808, August.
    7. Ana Petrina Păun & Codruța Cornelia Dura & Sorin Mihăilescu & Roland Iosif Moraru & Claudia Adriana Isac, 2020. "OHS Disclosures Within Non-Financial Reports: The Romanian Case," Sustainability, MDPI, vol. 12(5), pages 1-28, March.
    8. Nurul Jannah Mustafa Khan & Hasani Mohd Ali, 2023. "Regulations on Non-Financial Disclosure in Corporate Reporting: A Thematic Review," Sustainability, MDPI, vol. 15(3), pages 1-23, February.
    9. Adriana TIRON-TUDOR & Teodora Viorica FĂRCAŞ & Ioana DRAGU & Ecaterina Monica MOISE, 2020. "Non-Financial Reporting in Romania in the pre-Directive 2014/95/EU Period (1990-2013)," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(5), pages 63-72, May.
    10. 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.
    11. Zanellato Gianluca, 2021. "Quality of Information Disclosed in Integrated Reports, in the Extracting Sector: Insights from Europe," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 66(3), pages 1-20, December.
    12. Victoria Bogdan & Claudia Diana Sabău-Popa & Marcel-Ioan Boloș & Dorina-Nicoleta Popa & Mărioara Beleneși, 2022. "Tracking Waste Management Information Disclosure Behavior Connected to Financial Performance through Moderating Variables," IJERPH, MDPI, vol. 19(20), pages 1-25, October.
    13. Valentina Vasile & Mirela Panait & Paolo Piciocchi & Maria Antonella Ferri & Maria Palazzo, 2022. "Performance management and sustainable development: an exploration of non-financial performance of companies with foreign capital in Romania," Italian Journal of Marketing, Springer, vol. 2022(3), pages 371-400, September.
    14. Cecília Carmo & Cristiana Ribeiro, 2022. "Mandatory Non-Financial Information Disclosure under European Directive 95/2014/EU: Evidence from Portuguese Listed Companies," Sustainability, MDPI, vol. 14(8), pages 1-23, April.
    15. Cristian Negrutiu & Cristinel Vasiliu & Calcedonia Enache, 2020. "Sustainable Entrepreneurship in the Transport and Retail Supply Chain Sector," JRFM, MDPI, vol. 13(11), pages 1-12, November.

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    More about this item

    Keywords

    non-financial disclosure; sustainability; bio-economy; social responsibility; disclosure index; European Directive 95/2014; Romania.;
    All these keywords.

    JEL classification:

    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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