Analysing the Link Between CSR Reporting and Financial Performance Variables of Belgrade Stock Exchange Companies

Mijoković, Mirjana; Knežević, Goranka; Mizdraković, Vule

doi:10.22190/teme190513081m

Cited by 4 publications

(3 citation statements)

References 21 publications

(20 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Using statistical regression analysis with the level of CSR reporting set as a dependent variable, Rogošić (2014) confirmed that there is a positive correlation between asset value and profits and the CSR reporting levels of banks from Croatia, Bosnia and Herzegovina, and Montenegro. Mijoković et al (2020) examining the companies listed on the Belgrade Stock Exchange come to results which confirm that the financial performance and the size of the company expressed through the value of total assets have a better quality of CSR reporting. They also identify that an audit firm has an impact on CSR reporting, namely companies that select external auditors from the BIG 4 have more information and pay more attention to non-financial corporate responsibility information.…”

Section: Empirical Frameworkmentioning

confidence: 88%

The Practice and Drivers of CSR Disclosure Among the Blue-Chip Companies in North Macedonia

Tocev

Dionisijev

Minovski

2022

EB&D

View full text Add to dashboard Cite

Non-financial reporting is becoming an increasingly common topic of discussion and is a matter of time before it is regularly implemented around the world. Stakeholders want to see how companies contribute to the common good and what social activities they undertake, so although in the Macedonian practice Corporate Social Responsibility (CSR) disclosure is not mandatory, there is a growing intention to publicly disclose information about social activities. CSR is extremely important for businesses and other stakeholders, and it requires businesses to develop a corporate strategy that balances environmental, social, and ethical concerns. Through this type of activities, companies manage to increase their influence in society, to leave a good impression but also to contribute to the improvement of society and place of living, which is a win-win situation for everyone. The paper aims to examine the level of CSR reporting in domestic practice, through research conducted on the blue-chip companies listed on the Macedonian Stock Exchange. We analyzed the financial and annual reports and official websites of the joint stock companies that were part of the MBI10 index in the period from 2016 to 2020. First, a theoretical review of the CSR is presented, followed by a literature review on the CSR’s indicators and the state of the CSR in the Macedonian practice. Our findings from the conducted content analysis and linear regression show that larger and more profitable companies show a greater propensity for social responsibility and display more information about their undertaken social related activities.

show abstract

Section: Empirical Frameworkmentioning

confidence: 88%

The Practice and Drivers of CSR Disclosure Among the Blue-Chip Companies in North Macedonia

Tocev

Dionisijev

Minovski

2022

EB&D

View full text Add to dashboard Cite

show abstract

“…Finally, the ProCredit bank displays a positive development of business, but its profitability (ROA 0.44% and ROE 3.89%) is lower compared to the consolidated group results (ROA was recorded to be 0.97%, and ROE was recorded to be 9.7% in 2021). It is important to emphasise that all of the banks in the sample have the relevant ESG data on their websites (more in the methodological part), and that their quality is relevant for further analysis (Mijokovic, Knezevic, & Mizdrakovic, 2020). In terms of environmental loans, three of the banks (Banca Intesa, UniCredit and ProCredit) offer energy effi-ciency loans, while Raiffeisen offers loans for the digitalisation of businesses and the introduction of innovative products (Table 2).…”

Section: Overview Of Sustainable Bankingmentioning

confidence: 99%

Sustainable Banking and Its Main Determinants – Evidence From the Serbian Banking Sector

Стакић,

Барјактаровић

2023

TEME

View full text Add to dashboard Cite

Throughout the past decade, sustainability has been one of the most important topics among academics and within the business community. The adoption of ESG practice and the creation of holistic business models is on the agenda of the entire financial industry, predominantly among banking and investment entities. The paper aims to analyse the regulatory framework and current practice of sustainable business models with respect to the most important international banks operating within the Serbian economy. The analysis encompasses the descriptive assessment of ESG regulations, the reporting framework in the sustainability domain, and the quantitative analysis of ESG metrics and their statistical relationship with banks’ financial performance. Due to various limitations, such as a lack of quantitative metrics and an unstandardized reporting practice, research was performed on a sample of four international banks operating in Serbia, for the period between the years 2015 and 2021. The statistical results of the regression analysis do not show a significant relationship between ESG metrics and the financial performance of the examined banks.

show abstract

“…The current state of development of non-financial reporting is measured using the socially responsible business index of Serbian companies listed on the Belgrade Stock Exchange. Serbian companies, listed as large, have a higher quality of nonfinancial reporting (Mijoković et al, 2021). In the continuation of the paper, we will focus on the disclosure of environmental information within the framework of integrated reporting in the Republic of Serbia, taking into account the results of the mentioned research, including the results reached by Marinković and Stevanović (2022).…”

Section: Introductionmentioning

confidence: 99%

Integrated Reporting – Information Base of Green Business in Serbia

2024

IDARA

View full text Add to dashboard Cite

Green businesses operate according to green management principles, policies, and practices that improve the quality of life of their customers, employees, the communities in which they operate, and the environment. The path to green business is part of a long-term sustainability strategy. The sustainability of economic activity is identified with respect for the principle of moral justice, which implies the equal right of every person to an appropriate degree of freedom, which does not contradict the freedom of others. Accordingly, it could be stated that the right of the current generation to use resources and the environment must not jeopardize the rights of the next generations. The primary goal of business in today's dynamic environment is to create value for owners. However, the achievement of this goal depends on the achievement of the company's secondary goals, which include creating superior value for customers and ensuring full engagement and motivation of employees, suppliers, and distributors. The connection between the company and other stakeholders is made possible by the wider public, which also has an interest in the company's operations. Therefore, modern companies are focused on creating value for all stakeholders. The interdependence of the company and all stakeholders requires the integration of reports on the financial, environmental, and social performance of the company. In this way, integrated reporting, in addition to financial reporting, also includes a specific form of reporting on sustainable development. Accordingly, the essence of integrated reporting consists in the creation and presentation of financial and non-financial performances, to see the degree of involvement of the concept of sustainable development in the company's operations. International professional organizations and institutions significantly support the process of standardization of integrated reporting, with their framework proposals, guidelines, directives, regulations, protocols, and indicators. Integrated reporting aims to bring together financial reporting on the economic performance of companies with qualitative reports on environmental performance. The basic idea of integrated reporting is to provide an information base on the effects of social and environmental performance and their economic impact on the company. This involves identifying environmental and social costs, benefits, and risks, as well as incorporating their impact on the company's economic performance. According to the above, the paper aims to analyze the disclosure of environmental information within the framework of integrated reporting in the Republic of Serbia. The analysis refers to groups of companies in Serbia, that are included in the National Register of Pollution Sources, with special reference to companies from the sectors of agriculture, forestry, and fishing. The paper will also present the future legal framework in the field of agriculture in the Republic of Serbia, with the goals and activities of The European Green Deal. The bottom line is that it is necessary to support investments in sectors where the Republic of Serbia has comparative advantages (fruit, vegetable, livestock production sectors), improve business management, and provide adequate logistical support. Keywords: integrated reporting, environmental performance, green business. JEL codes: Q01, Q50, Q56

show abstract

Analysing the Link Between CSR Reporting and Financial Performance Variables of Belgrade Stock Exchange Companies

Cited by 4 publications

References 21 publications

The Practice and Drivers of CSR Disclosure Among the Blue-Chip Companies in North Macedonia

The Practice and Drivers of CSR Disclosure Among the Blue-Chip Companies in North Macedonia

Sustainable Banking and Its Main Determinants – Evidence From the Serbian Banking Sector

Integrated Reporting – Information Base of Green Business in Serbia

Contact Info

Product

Resources

About