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2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gianluca Zanellato ◽  
Adriana Tiron-Tudor

PurposeThe purpose of the research is to shed light on how the mandatory regulation on nonfinancial information has changed European state-owned enterprises' (SOEs) disclosure levels. In addition, the present research aims to demonstrate, under the lens of legitimacy theory, how Hofstede's cultural dimensions shape social expectations that may have suffered changes after the introduction of a mandatory regulation on nonfinancial reporting.Design/methodology/approachThe paper adopts a mixed approach. First, it employees the content analysis to investigate the disclosure level on 22 of the 24 European SOEs. Second, the authors demonstrate how cultural dimensions take a different role when a change in regulation is introduced using the qualitative comparative analysis (QCA).FindingsThe results reveal a slight increase in disclosure from the year before introducing the directive. Additionally, the results demonstrate how none of Hofstede's cultural dimensions is responsible for high disclosure levels. Although, the sufficiency analysis outlines several combinations of different cultural dimensions that lead to high disclosure levels. In particular, results demonstrate how the core dimensions leading to the outcome changed once the European Union Directive (EUD) has entered into force.Research limitations/implicationsDespite the contributions, the present study is not free of limitations. As the investigated sample is limited to a small number of SOEs, the content analysis adopts a dichotomous approach. The analysis is conducted on integrated reporting, and the fuzzy set QCA results cannot be used for generalization but refer only to the investigated sample. Consequently, further studies should investigate a broader sample of SOEs and organizations that adopt other nonfinancial reporting frameworks. Additionally, a qualitative approach to the reports' analysis is recommended.Practical implicationsIt demonstrates how the EUD on nonfinancial information has impacted the disclosure levels of European SOEs. It adopts a fresh methodology rarely used in accounting. It demonstrates how cultural conditions influence social expectations that determine corporations to disclose more information after the introduction of a regulatory framework.Originality/valueThe paper's theoretical contribution refers to its focus on the public sector, and it adopts a methodology rarely used by accounting scholars.


2021 ◽  
pp. 125-134
Author(s):  
Marzena Remlein

The purpose of this chapter is to present and discuss the essence and importance of accounting in the concept of sustainable development. Considerations are particularly focused on reporting CSR issues. The growing importance of the idea of sustainable development and the concept of Corporate Social Responsibility that arose on its basis, gave rise to the need for accounting systems to develop solutions enabling the provision of information on the methods and results of implementing these concepts in entities operating on the market. The interest in accounting with regard to the area of sustainable development has contributed to the development of vocabulary related to measurement, calculation, disclosure, reporting and verification of information on the activities of units for sustainable development. Reporting on Corporate Social Responsibility (CSR) is still largely voluntary and non-standardised. However, there are various international organisations that develop frameworks and voluntary standards for non-financial reporting, the so-called Social Reporting Standards. The most important EU legislative initiative in the field of disclosure concerning environmental, social and corporate governance information is Directive 2014/95/EU of the European Parliament and Council from 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity in formation by certain large undertakings and groups. The combination of financial information (financial statements) with non-financial information relating to the environment, society and corporate governance is included in the integrated report. In Poland, the requirement to present non-financial information related to CSR was introduced by the Accounting Act. Polish companies should prepare a separate report—“Statement on nonfinancial information”. In 2017, the Polish Standard of Non-Financial Information (SIN, 2017) was published to help enterprises fulfil their obligations under the EU Directive.


2021 ◽  
Vol 13 (19) ◽  
pp. 10761
Author(s):  
Maria Albertina Barreiro Rodrigues ◽  
Ana Isabel Morais

Since the beginning of the twenty-first century, society has become more sensitive to sustainability and to the consequences of companies’ activities. Furthermore, the demands for change in corporate reporting have led to the emergence of integrated reporting (IR) and an increase in the disclosure of nonfinancial information assurance to ensure the compliance of integrated information. Universities need to embrace this challenge and be part of this change. This research’s goal is to enhance the diffusion of IR and integrated reporting assurance (IRA) in the curricula of universities by presenting a tool for professors and universities to help introduce the subjects in higher education institutions. The methodological approach develops a theoretical analysis of published IR and IRA articles related to education, to create a presentation of the challenge learning method (CLM) for professors and high education institutions to develop the subject of IRA to challenge students. Considering teaching experience as a value-added component to research the proposed method comes from the teaching experience of the authors. The result consists of a method that can increase accounting academics knowledge of IR and IRA and motivate students to study these emerging accounting practices. This study contributes to the extant literature on IR, IRA and Education that is scarce, the use of appropriate teaching methods to IR and IRA, and the dissemination of IR and IRA in education by providing a better connection between the universities and the best practices of corporate reporting and auditing. This study leads to an increase in the connection among higher education institutions, professors, students, practitioners, auditors, regulators, standard setters, and society in general.


2021 ◽  
Vol 11 (3) ◽  
pp. 89
Author(s):  
Stefanía Carolina Posadas ◽  
Lara Tarquinio

This paper explored the effects of new regulation on the disclosure of NFI in two European countries, Italy and Spain. The method used to develop the analysis is mainly qualitative. Content analysis was performed to verify the sustainability indicators disclosed by Italian and Spanish companies, listed on the FTSE MIB and IBEX 35 Indexes, before and after the Directive’s publication and implementation in national legislation. The level of NFI disclosure was scored using a disclosure index. The comparative analysis found a progressive reduction in disclosure levels for Italian companies compared with Spanish companies, for which an expansion of the disclosure was detected. Moreover, a reduced gap between the quantity of NFI reported in the two countries was found. This is one of the few studies to use a 3-year longitudinal analysis to investigate the EU Directive’s impact at the cross-country level.


SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110038
Author(s):  
Jose Luis Retolaza ◽  
Leire San-Jose

This study aims to discuss the use of social accounting, supported by practice theory, and its contribution to social accounting theory. It is possible for stakeholder accounting to be carried out by various companies. It has been analyzed by multiple case studies, and the results will enable us to help the general public understand the social values that companies generate for society and the resulting impact on stakeholder, and therefore social well-being. The results of the analyses will provide companies with feedback on their social impact, which will help them to become more efficient. This study defines a framework that might guide the social value and nonfinancial information of organizations. Social accounting is seen as an accounting system based on accepted accounting principles, seeking to emphasize the notion of corporate accountability. From the analysis of more than 90 cases, we conclude that there is a possibility of systematically introducing stakeholder accounting or recalled socioemotional accounting (SĒA) into all organizations.


2021 ◽  
Vol IV(1) ◽  
Author(s):  
Camelia Mihalciuc ◽  

In the current business environment, financial reporting has become insufficient in terms of information, which is caused by the increasing information needs of stakeholders. In this context, an integrated reporting modality has emerged thanks to the International Integrated Reporting Council (IIRC), where the information presented is both financial and nonfinancial information, such reporting being called “Integrated Reporting”. Thus, starting from this consideration, the main objective of the paper aims at the main aspects that lead to the presentation of the benefits of implementing integrated reporting in organizations, through the ability to understand, in a more complete way, the "real" performance of a sustainable organization. The essential elements contained in an integrated reporting concern the capital, the business model and the process of creating and maintaining value, this reporting must be integrated in the strategy and vision of the organization, allowing through the transparency of these integrated reports the observation of all aspects led to the results obtained by the organization, as well as providing information on the role of the organization in society and the context in which it operates, the image of the organization being complete. The purpose of this paper is to highlight the importance and role assigned to integrated reporting in measuring the performance of a sustainable organization, by making it easier to understand the cause and effect of the link between financial performance and sustainability by stakeholders.


2021 ◽  
Vol 8 (55) ◽  
pp. 313-329
Author(s):  
Daniela Constantinescu

Abstract This paper investigates the relationship between sustainability disclosure measured through the combined and individual environmental, social, and governance (ESG) scores and the value of European companies from energy and health care industries. The reasons for this research are the increased awareness of sustainability disclosure, the inclusion of nonfinancial information in corporate reporting and possible added value to the company, the ongoing COVID-19 pandemic, and its impact on the global economy. The sample consists of 305 observations for 61 European companies from different categories in the energy industry and 225 observations for 45 European companies in the health care industry. To apply the research model to the samples of companies set as panel data, two linear regressions were designed, each using a different dependent variable to increase the reliability of the outputs. The results indicate a negative and significant correlation between the environmental factor and firms’ value for the energy sector and no influence of the sustainability disclosure on the value of companies in the health care industry. The research contributes to the literature by addressing the impact of sustainability disclosure on the value of the European companies from sensitive industries, using both the combined and individual ESG scores to measure sustainability disclosure. Furthermore, the study encourages other academic research on this subject.


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