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

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.

Disclosure Dynamics and Non-Financial Reporting Analysis. The Case of Romanian Listed Companies

“…In terms of compliance, various studies [10,[41][42][43][44][45][46][47] were conducted to identify the reaction of companies to the mandatory transposition of what was voluntary. How prepared companies are for reporting as required by the directive is the question that many researchers have asked themselves [42][43][44].…”

Integrated Reporting and European State-Owned Enterprises: A Disclosure Analysis Pre and Post 2014/95/EU

“…To this extent, a broad range of contributions has been observed. On a national level, Sierra-Garcia et al [29] investigated the application of the EUD in the case of Spanish companies, and Tiron-Tudor et al [30] analysed the change brought by the EUD on non-financial information by Romanian listed companies, for the year previous and after the entry into force of the regulation. Moreover, Venturelli et al [6] analysed the readiness of large, Italian organisations' reports for the upcoming EUD, while Doni et al [31] explored the quality of non-financial reports in relation to compliance toward the EUD, in the case of Italian companies foreseen by the entrance into force of the Directive.…”

Mobbing and corporate social responsibility: does the status of the organisation guarantee employee wellbeing and intentions to stay in the job?

“…According to Lin-Hi et al (2015), CSR also causes respective expectations of corporate behaviour for stakeholders. The expectancy theory, on the one hand, shows how CSR affects job attractiveness in a career context (Lin et al, 2012;Tsai et al, 2016;Tiron-Tudor et al, 2019), and on the other hand, reveals the relationship between personal expectations and the negative reaction of co-workers, manifesting itself by bullying Samani & Singh, 2014;Paul & Kee, 2020). That is, employees' productivity related to career expectations provokes mobbing, the encounter with which leads to disappointment in organizational justice (Adoric & Kvartuc, 2007;Afe et al, 2019), and disappointments become the cause of terminated psychological contract and intentions to leave the job (Meriläinen et al, 2019a(Meriläinen et al, , 2019b.…”