The Business Model in Energy Sector Reporting—A Case Study from Poland: A Pilot Study

Beata Sadowska, Magdalena Wójcik-Jurkiewicz (), Grzegorz Zimon (), Adam Lulek, Nina Stępnicka and Robert Walasek
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Magdalena Wójcik-Jurkiewicz: Department of Accounting, Institute of Management, College of Management Sciences and Quality, Cracow University of Economics, 31-510 Krakow, Poland
Grzegorz Zimon: Department of Finance, Banking and Accountancy, Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland
Adam Lulek: Department of Accounting, Faculty of Economics, Finance and Management, University of Szczecin, 70-453 Szczecin, Poland
Nina Stępnicka: Faculty of Law and Social Sciences, Jan Kochanowski University in Kielce, 25-369 Kielce, Poland
Robert Walasek: Faculty of Management, Department of Logistics, University of Lodz, 90-237 Lodz, Poland

Energies, 2023, vol. 16, issue 4, 1-18

Abstract: The business model is understood as a way of generating revenue and creating value. This article aimed to define the framework and detailed characteristics of the business model in corporate reporting in the energy sector. The study also addressed the issue of value creation and examined the correlation between reporting information about the business model and the value of the enterprise, calculated using selected accounting measures. The research was conducted in 2021 on all listed companies in the energy sector included in the WIG20 index in 2019–2020. The research methodologies included critical analysis of the literature, analysis of the content of corporate publications, comparative analysis, analysis of phenomena and synthesis of results, Spearman’s rank correlations, and graphical data presentation. The originality of our research concerns directing attention to the disclosure and reporting of information about the business model in corporate reports in the energy sector in Poland. This is the first such study in Poland conducted on companies in the energy sector; therefore, it is treated by the authors as a pilot study. The results show that companies in the energy sector included in the WIG20 index do not disclose information about their business models in reports and the structure of published reports is very diverse, which makes it even more difficult to compare financial and non-financial data. Enterprises in the energy sector disclose financial and non-financial information in financial statements and the reports of the management board on the activities of the company and the capital group. The financial information disclosed by the companies most often included financial and productive capital. Energy companies are reluctant to disclose information about by-products and waste.

Keywords: business model; integrated reporting; non-financial reporting; energy sector; Warsaw Stock Exchange (WSE) (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
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