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Non-Financial Reporting - A Step Towards Improving The Sustainability Of The Wood-Based Industries

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  • Atanasov, Atanas

Abstract

The aim of this paper is to justify the need of introduction an uniform practices in the disclosure of non-financial information by enterprises in the wood-based industries in order to achieve sustainable growth and development. Based on a critical analysis of existing research in this area and an analysis of the financial statements for 2018 of three of the largest Bulgarian companies in the industry, we found out that despite the importance of environmental and social issues, companies in this industry are not required to prepare a non-financial statement within the meaning of the European and Bulgarian legislation. The information disclosed in management reports and corporate websites is mainly descriptive and does not meet the requirements of the European Directive. As a result, it is argued that the enterprises in the wood-based industries that use non-financial reporting would gain competitive advantage by revealing specific features of the business model change and reporting “structured” and “tied” non-financial information to the entity's financial performance.

Suggested Citation

  • Atanasov, Atanas, 2020. "Non-Financial Reporting - A Step Towards Improving The Sustainability Of The Wood-Based Industries," MPRA Paper 104558, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:104558
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    File URL: https://mpra.ub.uni-muenchen.de/104558/1/MPRA_paper_104558.pdf
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    References listed on IDEAS

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    1. Laura Sierra-Garcia & Maria Antonia Garcia-Benau & Helena Maria Bollas-Araya, 2018. "Empirical Analysis of Non-Financial Reporting by Spanish Companies," Administrative Sciences, MDPI, vol. 8(3), pages 1-17, July.
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    Cited by:

    1. Rusanen, Katri & Hujala, Teppo & Pykäläinen, Jouni, 2024. "Research approaches to sustainable forest-based value creation: A literature review," Forest Policy and Economics, Elsevier, vol. 163(C).

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    Keywords

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    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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