The effect of the EU’s directive on non-financial disclosures of the oil and gas industry

Mona Al-Dosari, Ana Marques and Jenny Fairbrass

Accounting Forum, 2023, vol. 47, issue 2, 166-197

Abstract: Owing to its substantial impact on the environment, economy, and society, we choose to examine the oil and gas industry, drawing on neo-institutionalist scholarship to concentrate on the mimetic, coercive, and/or normative effects discernible in the industry’s non-financial disclosure (NFD) behaviour. Focusing on Directive 2014/95/EU, we construct scores to assess the evolution of the sector’s NFD over time and the spillover effects beyond EU large and listed firms, the latter being directly subject to the legislation. We scrutinise NFD over a decade, producing three main results. First, we find that NFD increases immediately after the directive’s publication and further increases during the implementation phase. Second, the directive has a spillover effect, sparking significantly increased NFD among non-EU firms during the implementation period. Third, the NFD level of non-EU firms is associated with the number of EU employees and the extent of EU operations of these firms, but only following the implementation of the directive. These findings have clear repercussions for firms operating both inside and outside the EU as well as implications for EU public policymakers.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/01559982.2023.2198179 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:accfor:v:47:y:2023:i:2:p:166-197

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/racc20

DOI: 10.1080/01559982.2023.2198179

Access Statistics for this article

Accounting Forum is currently edited by Carol Tilt

More articles in Accounting Forum from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().