Differences in Disclosure of Integrated Reports at Energy and Non-Energy Companies

Piesiewicz, Maja; Ciechan-Kujawa, Marlena; Kufel, Paweł

doi:10.3390/en14051253

Cited by 12 publications

(13 citation statements)

References 41 publications

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“…Therefore, their financial audit should consider the state of corporate social responsibility and the effectiveness of sustainable development; the responsibility of an auditor should be generalized by the length of the integrated audit vector [3]. Companies in the energy sector have a high level of social responsibility, including the quality of disclosure of financial and non-financial information in integrated reporting [4].…”

Section: Methodsmentioning

confidence: 99%

Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit

Kostyrko¹,

Косова

Костирко

et al. 2021

Energies

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The aim of this research is to determine the influence of electrical energy market regulation reform in Ukraine on the competitive environment, the reproduction processes of financial and innovative support, and the energy efficiency of the national economy. The authors have put forward and verified the hypothesis that, under conditions of institutional maturity of the Ukrainian electrical energy market, its liberalization and separation of the kinds of activity related to generation, transmission, and distribution leads to a decrease in prices, and the level of economic concentration stimulates implementation of innovations and the formation of reports on sustainable development. Over the thirteen-year time interval, a steady trend of decreasing energy intensity of the Ukrainian economy was established, and the appropriateness of energy efficiency management based on strategic targets was substantiated. The electricity market model in Ukraine is defined as a hybrid one, with an emphasis on trade under bilateral agreements. It was statistically found that liberalization of the electrical energy market in Ukraine contributed to a decrease in prices, with the exception of the areas of largest household and non-household consumers. The high level of asset concentration in the accounts of large enterprises was revealed, and the conclusion concerning the improvement of the competitive environment in the electricity production sector and the existence of the features of natural monopolies in the areas of transmission and distribution of electricity was made. The assessment of the financial competitive ability and profitability of electrical energy market entities was made, the main entities of the investment activity and the sources of their financing were characterized, and innovations were emphasized. The role of the standards of the audit of integrated reporting of the Ukrainian energy holdings and their role in ensuring sustainable development was determined.

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Section: Methodsmentioning

confidence: 99%

Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit

Kostyrko¹,

Косова

Костирко

et al. 2021

Energies

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“…Zhu conducted the study from the perspective of financial management, analyzed the possible influence of carbon tax policy on green financial performance, green financial activities, green financial accounting and financial information disclosure of microeconomic entity power companies based on specific cases [47]. Piesiewicz and Ciechan-Kujawa (2021) conducted the study on 57 published integrated reports of listed companies in Poland, contributed to the integrated reporting examination by identifying quantitative and qualitative gaps when applying Integrated Reporting standards and found insignificant differences in the analysis of completeness of disclosures in performance [48].…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Carbon Disclosure on Financial Performance under Low Carbon Constraints

Zhu

Zhang

2021

Energies

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In the context of low-carbon constrained development, in order to avoid the risk brought by climate change, more and more companies choose to disclose carbon information, respond to the national policy of carbon emission reduction and focus on the sustainable development of enterprises. This paper will investigate the impact of carbon disclosure on financial performance based on the 2011–2018 CDP report, taking the Fortune 500 companies as a sample. The study finds that for carbon-intensive industries, carbon disclosure cannot significantly contribute to the improvement of financial performance in the current period, but for carbon-non-intensive industries, carbon disclosure can significantly contribute to the improvement of financial performance in the current period, and the positive impact of carbon disclosure on financial performance in the current period can be extended to the next period. Finally, based on the findings of the empirical study, this paper puts forward policy recommendations for the construction of China’s carbon disclosure system.

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“…Considering the classification by industries, 44% of the companies had activities of the manufacturing industry. Previous research has shown that the quality of sustainability reports differs by industry [ 34 , 36 , 63 ]. We tested the model by industry, which was the most prevalent by companies in the manufacturing industry.…”

Section: Discussionmentioning

confidence: 99%

“…The main factors identified were the size of the company and the type of industry. Other research has shown that companies’ Directive implementation was done differently with these substantial differences between countries [ 35 ] and industries [ 36 ].…”

Section: Literature Reviewmentioning

confidence: 99%

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

Haţegan

Curea-Pitorac

Milu

2021

IJERPH

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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.

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Differences in Disclosure of Integrated Reports at Energy and Non-Energy Companies

Cited by 12 publications

References 41 publications

Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit

Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit

The Impact of Carbon Disclosure on Financial Performance under Low Carbon Constraints

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

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