Towards 2014/95/EU directive compliance: the case of Poland

Łukasz Matuszak and Ewa Różańska

Sustainability Accounting, Management and Policy Journal, 2021, vol. 12, issue 5, 1052-1076

Abstract: Purpose - This study aims to investigate the differences in the extent of non-financial disclosure (NFD) across companies listed on the Warsaw Stock Exchange over the period surrounding the implementation of the Directive 2014/95/EU. Design/methodology/approach - The sample comprising 134 selected companies. Content analysis and a disclosure index were used to measure the level of NFD. Non-financial reporting practices in the two years before (2015) and one year after (2017) the implementation of the Directive were compared. Findings - The results highlight that there is already a high level of compliance with the European Union’s regulation. The extent of the NFD across different thematic aspects in reporting media increased significantly between 2015 and 2017 in particular in human rights and anti-corruption. The Directive had the largest impact on those firms with previously low levels of NFD and led to more homogeneity of NFD across different industries. Originality/value - The study contributes to the understanding of the impact of the Directive on the NFD practices by European Union companies. The research has important implications for policymakers because it revealed that mandatory regulations form a crucial instrument in improving the harmonization of NFD. The research suggests that, due to the Directive, stakeholders should be provided with more comprehensive information that they need in their decision-making process.

Keywords: CSR disclosure; Sustainability disclosure; ESG disclosure; Directive 2014/95/EU; Non-financial disclosure (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:sampjp:sampj-02-2020-0042

DOI: 10.1108/SAMPJ-02-2020-0042

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