Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/281462 
Year of Publication: 
2019
Citation: 
[Journal:] Amfiteatru Economic Journal [ISSN:] 2247-9104 [Volume:] 21 [Issue:] 52 [Year:] 2019 [Pages:] 590-606
Publisher: 
The Bucharest University of Economic Studies, Bucharest
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.
Subjects: 
non-financial disclosure
sustainability
bio-economy
social responsibility
disclosure index
European Directive 95/2014
Romania
JEL: 
Q57
Q01
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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