Non-financial Performance of Energy Companies Listed on the Bucharest Stock Exchange and Relevance for Stakeholders

Puime Felix (), Panait Mirela (), Jean Vasile Andrei and Gigauri Iza ()
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Puime Felix: University of A Coruña
Panait Mirela: Petroleum-Gas University of Ploiești
Gigauri Iza: St. Andrews Georgian University

A chapter in Digitalization and Big Data for Resilience and Economic Intelligence, 2022, pp 183-201 from Springer

Abstract: Abstract Sustainable development is a complex process that requires the concerted effort of various categories of stakeholders. Companies have become aware of the role they can play in the transition to the green economy, which is why they are voluntarily involved in various CSR programs. In addition, economic agents try to provide the most complete information of their financial and non-financial performance so that stakeholders have a broader picture of the efforts of companies not only to maximize profit for shareholders, but also the value created for society in general. Starting from these considerations, the article proposes the analysis of the non-financial performances of the companies in the energy sector listed on the Bucharest Stock Exchange. These companies show a responsible attitude toward the environment and society, trying to mitigate the negative externalities generated by the production activity. Extensive information is presented in sustainability reports, with companies trying to carry out systematic consultation and sustained information of the stakeholders considering the character of public companies and the provisions of the European directive on the disclosure of non-financial information. Therefore, the social and environmental behavior of the companies in the energy sector has substantially improved under the pressure of different categories of stakeholders and under the influence of certain European regulations transposed in the Romanian legislation. However, the analysis revealed a differentiated behavior of these companies despite the fact that they belong to the same field of activity, they are listed companies and, in general, the state is the majority shareholder.

Keywords: Reporting; Disclosure; Non-financial performance; Energy (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-93286-2_14

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