The Directive 2014/95/EU – Is there a “New” Beginning for CSR in Romania?

Ogrean, Claudia

doi:10.1515/sbe-2017-0011

Cited by 14 publications

(5 citation statements)

References 4 publications

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“…The research addressing the quality of mandatory sustainability reporting is currently experiencing momentum in Europe after the implementation of the Directive 2014/95/UE that establishes mandatory disclosure of non-financial information for public interest entities, including listed companies with over 500 employees [79,80]. There are some ex-ante studies, as the contributions of Venturelli and colleagues [81,82], as well as Carini and colleagues [83], that explored the potential impact of the EU Directive in Italy, and the researches of Ogrean [84], Szczepankiewicz and Mućko [85], and Dumitru and others [86] examined this same phenomenon in Poland and Romania. After the implementation of the Directive 2014/95/UE by the European country members and the consequent entry into force of obligatoriness, several ex-post studies focusing on sustainability reporting quality appeared; the countries addressed by these studies are mainly Spain [87], Italy [88], Germany [89][90][91][92], and Poland [93].…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainability Reporting Quality of Peruvian Listed Companies and the Impact of Regulatory Requirements of Sustainability Disclosures

Adaui

2020

Sustainability

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Regulations establishing mandatory sustainability reporting practices are proliferating around the world. The empirical evidence comparing sustainability reporting quality (SRQ) in the context of mandatory and voluntary institutional frameworks does not show consensus. Similarly, this occurs with studies addressing the effects of regulatory shocks on SRQ. Moreover, empirical evidence addressing SRQ in Latin American countries is scarce. To fill this gap, this study aims to explore the consequences of introducing new regulatory requirements for sustainability disclosure on SRQ of Peruvian companies. To reach that goal, 81 sustainability disclosure documents published between 2014 and 2016 by 27 companies included in the S&P/BVL Peru General Index of Lima’s Stock Exchange were analyzed using qualitative content analysis methods and adopting a multidimensional approach for SRQ evaluation. The findings show a constant improvement of SRQ regardless of the introduction of the new regulatory requirements. Furthermore, after the entry into force of new sustainability reporting obligations, the number of companies providing third-party independent assurance of the information contained in their sustainability disclosure documents decreases, suggesting that for the Peruvian case, regulatory requirements tend to discourage companies to invest in the credibility of their sustainability disclosure documents, and promote a symbolic application of sustainability disclosure standards.

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Section: Literature Reviewmentioning

confidence: 99%

Sustainability Reporting Quality of Peruvian Listed Companies and the Impact of Regulatory Requirements of Sustainability Disclosures

Adaui

2020

Sustainability

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“…European legislation regarding the disclosure of "non-financial and diversity information" [1][2][3][4] by large companies was adopted by the Italian Legislature on 30 December 2016 by means of Legislative Decree 254, which entered into force on 25 January 2017 (to be applied starting from the fiscal year 2017).…”

Section: Introductionmentioning

confidence: 99%

Directive 2014/95/EU: Are Italian Companies Already Compliant?

et al. 2017

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According to Directive 2014/95/EU on disclosure of non-financial information from 2017 onwards, large companies (exceeding 500 employees) headquartered in Member States will be required to provide a series of social, environmental, and governance statements. The Directive was transposed into Italian law by Legislative Decree 254 of 30 December 2016.The aim of this paper is to evaluate the information gap for Italian companies and, consequently, the adjustments required by the new Directive on non-financial information. In order to analyze the level of non-financial and diversity disclosure, we created an assessment model called "Non-financial information score", which records the required information as a percentage. We apply it to a sample of 223 large companies. The results (with an average NFI score of about 49%) show that, in spite of what has previously emerged in the European debate about the application of the Directive on the part of large companies, an information gap remains, although the implementation of the directive should help to fill it in the coming years. In this sense, the potential contribution of the EU directive to non-financial disclosure in Italy appears to be greater than we had expected. Thus, in accordance with the literature, this paper appears to confirm the role of regulation in improving the quality of disclosure of non-financial information.

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“…In order to pursue the reliability of NFI, it is necessary for companies to “think twice about their practices”, beyond the mere compliance approach (Ogrean, 2017). At the same time, it is necessary to enhance the education and training of accountants if they have to play a significant role in CSR reporting (Krasodmoska et al , 2020).…”

Section: Resultsmentioning

confidence: 99%

The multi-faceted dimensions for the disclosure quality of non-financial information in revising directive 2014/95/EU

Fiandrino

Trana

Tonelli

et al. 2021

JAAR

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PurposeThe aim of this paper is to provide the state of the art in the academic and professional debate on the disclosure quality of NFI. This analysis is driven by the need to feature the dimensions of NFI quality that should be considered to improve the current regulatory framework towards a more transparent disclosure.Design/methodology/approachThe research is an integrative literature review that assesses and synthesizes the scientific knowledge and the annexed documents collected during the public consultation for the Review of Non-financial Reporting Directive (NFRD) on the disclosure quality of non-financial information (NFI).FindingsFindings show that there is a common consensus between scientific literature and the annexed documents of the consultation process on the Review of the NFRD on the need to enhance a double-materiality perspective, to provide specific contents on sustainability issues, to clarify the relevance of NFI, and to embed NFI into the management report in an integrated manner. Furthermore, there is an alignment related to timeliness in favour of a risk management procedure and a forward-looking approach.Research limitations/implicationsThe research engages the debate on the NFI disclosure quality, in light of the recent Review of NRFD and the new Proposal of Corporate Sustainability Reporting Directive that extends and enhances the non-binding reporting guidelines of NFI.Practical implicationsThe research provides a dashboard of the dimensions of NFI disclosure quality that aggregates the academics' and practitioners' knowledge systematically. It shows the interplay between the scholarly developments and the recent measures arisen in the consultation process to undertake NFI disclosure quality.Originality/valueThe research provides a lens to analyse, classify and interpret the insights emerged during the consultation process of the NFRD.

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The Directive 2014/95/EU – Is there a “New” Beginning for CSR in Romania?

Cited by 14 publications

References 4 publications

Sustainability Reporting Quality of Peruvian Listed Companies and the Impact of Regulatory Requirements of Sustainability Disclosures

Sustainability Reporting Quality of Peruvian Listed Companies and the Impact of Regulatory Requirements of Sustainability Disclosures

Directive 2014/95/EU: Are Italian Companies Already Compliant?

The multi-faceted dimensions for the disclosure quality of non-financial information in revising directive 2014/95/EU

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