Assessment of the Mandatory Non-Financial Reporting of Romanian Companies in the Circular Economy Context

International Journal of Environmental Research and Public Health

Camelia-Daniela Hategan¹  Ruxandra-Ioana Pitorac²  Nicoleta-Daniela Milu³ 

[1] Department of Accounting and Audit, ECREB—East European Center for Research in Economics and Business, Faculty of Economics and Business Administration, West University of Timisoara, 16 Pestalozzi Street, 300115 Timisoara, Romania;Department of Economics and Economic Modeling, ECREB—East European Center for Research in Economics and Business, Faculty of Economics and Business Administration, West University of Timisoara, 16 Pestalozzi Street, 300115 Timisoara, Romania;Doctoral School of Economics and Business Administration, Faculty of Economics and Business Administration, West University of Timisoara, 16 Pestalozzi Street, 300115 Timisoara, Romania;

关键词: reporting;    non-financial information;    corporate social responsibility;    mandatory;    circular economy;   

DOI  :  10.3390/ijerph182412899

来源: DOAJ

【 摘 要 】

Between the circular economy and corporate social responsibility, there is an ever-closer connection. Non-financial reporting of social responsibility actions is based on the circular economy concept, so reporting contributes to increasing the level of disclosure of circular strategies. In this context, large companies are required to report non-financial information to understand their activities better. The paper’s objective is to assess the mandatory non-financial reporting of Romanian companies active in the non-financial sector for 2017–2019. The empirical analysis consisted of creating and awarding an evaluation score to the reports of the companies. An econometric model was tested using a feasible generalized least squares (FGLS) regression to identify the link of the obtained Score with a series of variables representing the characteristics of the companies: Information on a website (I), Foreign ownership (F), Private ownership (P), Listed company (L), Return on assets (ROA), and Return on equity (ROE). Research results highlight a positive correlation between Score and all variables statistically significant in the model. Our study empirically validated the link between non-financial reporting and financial performance. The practical implications for managers can be to focus on improving the quality of non-financial reporting by better presenting the sustainability actions in a circular economy context.

【 授权许可】

Unknown