Sustainability Reporting Standards: The Case of Greek Listed Companies

Glykeria-Maria Papanikolaou, Evrikleia Chatzipetrou (), Eleftherios Tiakas () and Georgia Boskou ()
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Glykeria-Maria Papanikolaou: International Hellenic University
Evrikleia Chatzipetrou: International Hellenic University
Eleftherios Tiakas: International Hellenic University
Georgia Boskou: International Hellenic University

Chapter Chapter 17 in Advances in Applied Microeconomics, 2025, pp 309-323 from Springer

Abstract: Abstract The present paper addresses the issue of the gradual adoption of international sustainability standards by companies listed on the Athens Stock Exchange, as they have to adapt to Directive (EU) 2022/2464. More specifically, we provide an exploratory empirical investigation of the role played by certain company characteristics, namely firm size, industry sector, annual turnover and total liabilities, in the adoption of sustainability standards, such as the Ten Principles of the United Nations Global Compact (UNGC), the 17 United Nations Sustainable Development Goals (SDGs) and the Athex ESG Stock Market Index. Based on an in-depth analysis with the use of multiple linear regression, our findings illustrate the correlation between the above company traits and the adoption and disclosure of ESG issues. It is shown that the effective adoption of standards, due to the mandatory implementation of Directive (EU) 2022/2464, is positively affected by both the size of the company and the sector of the business. On the other hand, it is concluded that the annual turnover and total liabilities do not affect the decision of the company’s Management to adopt the sustainability standards under research.

Keywords: Sustainability Reporting Standards; Directive (EU) 2022/2464; Firm size; Sector; Annual turnover; Total liabilities; Athens Stock Exchange; Ten Principles of the United Nations Global Compact (UNGC); 17 United Nations Sustainable Development Goals (SDGs); Athex ESG Stock Market Index (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-3-031-76654-1_17

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