The Impact of Corporate Sustainability Reporting Regulation on Business and Financial Performances of Companies in Bosnia and Herzegovina

Tajana Serdar Rakovic ()
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Tajana Serdar Rakovic: Faculty of Economics, University of Banja Luka, Banja Luka, Bosnia and Herzegovina

Croatian Economic Survey, 2024, vol. 26, issue 2, 63-93

Abstract: Given the global trends and initiatives for environmental preservation and transition to sustainable development, the corporate sector has been facing a turning point in corporate reporting. The sustainable business requirements also initiate a series of new challenges in the financial and accounting sector related to the development of accounting solutions for integrating sustainability issues into financial statements. In addressing the green transition problems, the EU has adopted the Corporate Sustainability Reporting Directive (CSRD), which modernizes and strengthens the rules concerning the social and environmental information companies must report in their financial statements. The research was carried out by conducting a survey among the population interested in corporate finances, especially accountants. The main goal of the research is to analyse the impact of sustainable reporting regulation on the corporate sector’s financial performance and companies’ operations in Bosnia and Herzegovina. The results show that EU CSRD will significantly impact doing business and performances of companies and that the companies that adapt to new sustainability reporting regulations will have higher chances of obtaining positive financial performances and adequately addressing the increasing demand of stakeholders for more comprehensive business reporting.

Keywords: corporate reporting; sustainable business; corporate sector; financial performances; sustainability reporting (search for similar items in EconPapers)
JEL-codes: G30 Q56 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:iez:survey:ces-v26_2-2024_serdar-rakovic

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