Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

Carp, Mihai; Păvăloaia, Leontina; Afrăsinei, Mihai-Bogdan; Georgescu, Iuliana

doi:10.3390/su11030658

Cited by 38 publications

(41 citation statements)

References 83 publications

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“…In terms of sustainability report disclosure, it will not impact increasing firm value as long as implementing social and environmental responsibility is still minimal because the sustainability report does not give a reaction to investors. The results are in line with researches by Carp et al [55] and Uwuigbe et al [56] show that disclosure of sustainability report does not affect firm value. The sustainability report is considered more costly than its benefits in increasing firm value because the information generated from the sustainability report does not have a strong potential to help investors predict investment returns.…”

Section: Resultssupporting

confidence: 92%

The Effect of Fundamental Factors, Sustainability Reporting, and Corporate Governance on Firm Value

Yondrichs¹,

Muliati²,

Laupe³

et al. 2021

ujaf

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This study aims to analyze the effect of fundamental factors and sustainability reporting on firm value. This study also investigates the moderation effect of corporate governance on the relationship of fundamental factors, sustainability reporting, and firm value. Design/methodology/approach: The population is all companies listed in Indonesia Stock Exchange and indexed in IDX30 throughout 2014-2020. The data are obtained from financial statements, annual reports, and sustainability reports. The analysis method used in this study is panel data regression analysis. Findings: This study shows that profitability and leverage as fundamental factors affect the firm value. This study also found that good corporate governance moderates the effect of the fundamental factors on firm value. However, the sustainability reporting cannot increase the firm value. Research implications: These results verify agency and signaling theories but do not support legitimacy and stakeholder theories. Practical implications: These results confirm that fundamental factors are still the investors' primary concerns about making investment decisions. Originality/value: The novelty of this study lies in highlighting corporate governance as a moderation variable in the relationship of fundamental factors, sustainability reporting, and firm value, which has still not been concluded yet.

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Section: Resultssupporting

confidence: 92%

The Effect of Fundamental Factors, Sustainability Reporting, and Corporate Governance on Firm Value

Yondrichs¹,

Muliati²,

Laupe³

et al. 2021

ujaf

View full text Add to dashboard Cite

show abstract

“…This fact has been positively linked with the quality of the revenues. The study, which has been done by Carp et al (2019) shows a low influence of the sustainable reporting on a company's growth indicators (i.e. the market value, increase sales and the cost of the capitals).…”

Section: Resultsmentioning

confidence: 98%

Modeling the Relationship Between Integrated Reporting Quality and Sustainable Business Development

Ciubotariu

Socoliuc

Grosu

et al. 2021

Journal of Business Economics and Management

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The aim of the paper is to provide an overview of the sensitivity in terms of the preference for using the integrated reporting quality (IRQ) based on the reporting companies’ field of activity. The study focusses on designing a sensitivity analysis relying on the most relevant financial and nonfinancial indicators as required by the stakeholders. They were adjusted by the key factors for the IRQ such as the social, natural, human and intellectual capital. The study has been designed based on the upgrade and in compliance with the connectivity principle as required by the IIRC. The data was collected from the IR examples Database between 2015–2017. The results suggest that based on sensitivity function value, those sectors of activity such as transportation and infrastructure, services and trade have a higher sensitivity preference for the IR due to the quantification of the stakeholders’ interest in terms of performance positive trend indexes. Making use of regressive techniques, the authors undertook an econometrical model for the evaluation of the IRQ that may become very useful for those companies that intend to set in place a sustainable business as it provides them the opportunity of measuring the IRQ.

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“…Similarly to the existent literature (Carp et al, 2019), the measurement of the GRID was carried out with a binary approach, assigning the value 1 or 0, depending on whether or not the GRI Topic-specific Standard was disclosed by the bank.…”

Section: Content Analysismentioning

confidence: 99%

Non-Financial Disclosure and Economic Performance of Top Italian Listed Banks

Baldissera¹

2022

Advances in Management and Applied Economics

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This study aims to analyze the relationships between the economic performance of Italian listed banks and their GRI disclosure (GRID), understood as the level of disclosure of their non-financial reports according to the GRI standards. The study selected 6 among the Italian listed banks with the highest capitalization as of 31/12/2020 and analyzed the relationships between their economic performance and their GRID by applying three models: Linear Regression, Support Vector Machines, and Decision Trees. The research highlighted the existence of positive relationships between the economic performance of banks – measured in terms of capitalization, size and leverage – and their GRID, while the relationship with profitability is negative. Unlike the analyzes that see disclosure as a factor capable of improving economic performance, this research starts from the assumption that the best economic performance favors a wider disclosure. Furthermore, the study applies machine learning which represents a non-traditional methodology, not yet fully exploited in the field of sustainability reporting. JEL classification numbers: M21. Keywords: Non-Financial reporting, GRI standards, Banking sector, Economic performance, Machine learning.

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Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

Cited by 38 publications

References 83 publications

The Effect of Fundamental Factors, Sustainability Reporting, and Corporate Governance on Firm Value

The Effect of Fundamental Factors, Sustainability Reporting, and Corporate Governance on Firm Value

Modeling the Relationship Between Integrated Reporting Quality and Sustainable Business Development

Non-Financial Disclosure and Economic Performance of Top Italian Listed Banks

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