Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context
The objective of this research is to determine the extent and current characteristics of risk disclosure in Europe in the context of corporate non-financial reporting practices. A multivariate linear regression analysis on risk disclosure behaviour is performed on a sample of companies included in t...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Editura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing house
2023-12-01
|
| Series: | Scientific Annals of Economics and Business |
| Subjects: | |
| Online Access: | https://saeb.feaa.uaic.ro/index.php/saeb/article/view/2390 |
| _version_ | 1797384654331838464 |
|---|---|
| author | Manuel Rejón López Lázaro Rodríguez Ariza Diego Valentinetti Francisco Flores Muñoz |
| author_facet | Manuel Rejón López Lázaro Rodríguez Ariza Diego Valentinetti Francisco Flores Muñoz |
| author_sort | Manuel Rejón López |
| collection | DOAJ |
| description | The objective of this research is to determine the extent and current characteristics of risk disclosure in Europe in the context of corporate non-financial reporting practices. A multivariate linear regression analysis on risk disclosure behaviour is performed on a sample of companies included in the EURO STOXX 50 Index, whose data were collected from their annual financial reports. Additionally, a first longitudinal exploration is carried out with respect to the GRI standard. It was possible to detect which risk items are more frequently reported by the selected corporations, and which corporate documents are most likely to contain relevant risk information. It was also possible to establish a link between specific industries, countries and company financial profiles and levels of risk disclosure. This empirical research is particularly relevant in the current scenario where several events converge: the gradual evolution, since 2017, of the NFRD (Non-Financial Reporting Directive) to a new Corporate Sustainability Reporting Directive (CSRD); the subsequent legal requirements for 2020 and 2021 of the ESEF (European Single Electronic Format) to support the disclosure of annual corporate reports; the pandemic and the new war scenario in Europe. This empirical work provides novel insights into risk disclosure and non-financial information in a particular setting, i.e., pre- and post-pandemic Europe, against a backdrop of growing concern about a new war scenario. |
| first_indexed | 2024-03-08T21:38:44Z |
| format | Article |
| id | doaj.art-1476fe93a7f3427d917aeb315bf87302 |
| institution | Directory Open Access Journal |
| issn | 2501-3165 |
| language | English |
| last_indexed | 2024-03-08T21:38:44Z |
| publishDate | 2023-12-01 |
| publisher | Editura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing house |
| record_format | Article |
| series | Scientific Annals of Economics and Business |
| spelling | doaj.art-1476fe93a7f3427d917aeb315bf873022023-12-20T15:40:31ZengEditura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing houseScientific Annals of Economics and Business2501-31652023-12-0170454756510.47743/saeb-2023-00391421Risk Disclosures and Non-Financial Reporting: Evidence in a New European ContextManuel Rejón López0Lázaro Rodríguez Ariza1Diego Valentinetti2Francisco Flores Muñoz3Universidad de GranadaUniversidad de GranadaUniversità "G. d'Annunzio" di Chieti-PescaraUniversidad de La Laguna, Santa Cruz de TenerifeThe objective of this research is to determine the extent and current characteristics of risk disclosure in Europe in the context of corporate non-financial reporting practices. A multivariate linear regression analysis on risk disclosure behaviour is performed on a sample of companies included in the EURO STOXX 50 Index, whose data were collected from their annual financial reports. Additionally, a first longitudinal exploration is carried out with respect to the GRI standard. It was possible to detect which risk items are more frequently reported by the selected corporations, and which corporate documents are most likely to contain relevant risk information. It was also possible to establish a link between specific industries, countries and company financial profiles and levels of risk disclosure. This empirical research is particularly relevant in the current scenario where several events converge: the gradual evolution, since 2017, of the NFRD (Non-Financial Reporting Directive) to a new Corporate Sustainability Reporting Directive (CSRD); the subsequent legal requirements for 2020 and 2021 of the ESEF (European Single Electronic Format) to support the disclosure of annual corporate reports; the pandemic and the new war scenario in Europe. This empirical work provides novel insights into risk disclosure and non-financial information in a particular setting, i.e., pre- and post-pandemic Europe, against a backdrop of growing concern about a new war scenario.https://saeb.feaa.uaic.ro/index.php/saeb/article/view/2390risk disclosure;non-financial reportseuropean single electronic formatglobal reporting initiative. |
| spellingShingle | Manuel Rejón López Lázaro Rodríguez Ariza Diego Valentinetti Francisco Flores Muñoz Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context Scientific Annals of Economics and Business risk disclosure; non-financial reports european single electronic format global reporting initiative. |
| title | Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context |
| title_full | Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context |
| title_fullStr | Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context |
| title_full_unstemmed | Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context |
| title_short | Risk Disclosures and Non-Financial Reporting: Evidence in a New European Context |
| title_sort | risk disclosures and non financial reporting evidence in a new european context |
| topic | risk disclosure; non-financial reports european single electronic format global reporting initiative. |
| url | https://saeb.feaa.uaic.ro/index.php/saeb/article/view/2390 |
| work_keys_str_mv | AT manuelrejonlopez riskdisclosuresandnonfinancialreportingevidenceinaneweuropeancontext AT lazarorodriguezariza riskdisclosuresandnonfinancialreportingevidenceinaneweuropeancontext AT diegovalentinetti riskdisclosuresandnonfinancialreportingevidenceinaneweuropeancontext AT franciscofloresmunoz riskdisclosuresandnonfinancialreportingevidenceinaneweuropeancontext |