Special Issue "Social Responsibility and Sustainability Accounting: Key Corporate Performance Drivers and Measures"

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (31 August 2021).

Special Issue Editors

Prof. Dr. Adriana Tiron-Tudor
E-Mail Website
Guest Editor
Faculty of Economics and Business Administration, Babes-Bolyai University, Cluj-Napoca, Romania
Interests: social responsibility; sustainability accounting; non-financial reporting capital; integrated reporting; sustainable development goals
Special Issues and Collections in MDPI journals
Dr. Giuseppe Nicolò
E-Mail Website
Guest Editor
Department of Management and Innovation Systems, University of Salerno, 84084 Fisciano, Italy
Interests: intellectual capital; corporate risk disclosure; integrated reporting; local banks accounting and local food sector
Special Issues and Collections in MDPI journals

Special Issue Information

Dear Colleagues,

In recent years, the blend of the global financial and sustainability crisis caused by increasing climate change, irresponsible consumption, poor working conditions, social inequality, water usage, waste, financial instability, and the most recent COVID-19 pandemic has created a wide business case for Corporate Social Responsibility (CSR) and Sustainable Development. As a result, organizations are no longer expected to merely focus on profit maximization objectives, but rather to align their vision, business strategy, models, operations, and value creation processes with environmental, social, and human rights concerns, for the sake of present and future generations.

The launch in 2015 of the 2030 United Nations Agenda for Sustainable Development has further solidified this need by the means of the adoption of 17 Sustainable Development Goals’ (SDGs) and 169 associated targets which provide companies with a comprehensive framework to address, in a balanced and integrated manner, CSR and Sustainable Development challenges through the three pillars: economic, social, and environmental. Attuned, a renewed pressure on firms by investors and other stakeholders to broaden the scope of their reporting practices has emerged, paving the way for expanding corporate accounting and accountability boundaries to embrace the triple bottom line of economic profitability, environmental protection, and social responsibility. Accordingly, by releasing the Directive 2014/95, the European Union (EU) has marked a final step in the regulatory process started in 2003 with the adoption of the Accounts Modernization Directive 2003/51, mandating certain large undertakings which are public-interest entities, to draw up a non-financial statement including information about environmental and social issues. The EU Directive also promoted the use of relevant non-financial key performance indicators to enhance the comparability and consistency of information disclosed.

However, several scholars advocate that the adoption of a mandatory approach does not automatically imply higher quality and transparency of non-financial information; accordingly, the debate on voluntary vs. mandatory non-financial reporting is still ongoing. Moreover, the EU directive does not prescribe a specific standard or rules to convey non-financial information, also allowing companies the possibility to choose among the different types of existing frameworks and reports to comply with the norm. This has resulted in a proliferation of reports (e.g., annual reports; sustainability reports; CSR reports; integrated reporting) and frameworks (e.g., Global Reporting Initiative (GRI); International Integrated Reporting Council (IIRC); Account Ability (AA); the United Nations Global Compact (UNGC)), each with its strength and weaknesses, that companies are employing to provide investors and other stakeholders with non-financial information. As a consequence, corporate non-financial reporting practices are barely uniform both in terms of extent and quality.

Given these premises, the main aim of the Special Issue is to stimulate the debate about the different forms of corporate non-financial reporting, inviting scholars to critically examine the different ways companies are pursuing to demonstrate stakeholders their commitment towards CSR and sustainable development issues. Contributions that question the adoption of voluntary or mandatory non-financial approaches to non-financial reporting, in the light of the EU non-financial directive adoption, are also welcomed. Papers can be both theoretical and empirical.

The Special Issue will consider contributions related but not limited to the following topics:

  • The role of the different types of reports (e.g., sustainability reports; CSR reports; integrated reporting) in complying with EU directive requirements;
  • Sustainability reporting vs. integrated reporting: theoretical and practical implications;
  • Sustainability accounting and management in practice;
  • The use of relevant key performance indicators (KPIs) to measure non-financial business performance;
  • The impact of regulation on non-financial disclosure;
  • Voluntary versus mandatory non-financial reporting;
  • Environmental, social, and governance (ESG) metrics disclosure and its determinants;
  • SDGs implementation and reporting in both private and public sector entities;
  • Emerging digital channels (e.g., company website, social media) and non-financial disclosure;
  • The role of the assurance in enhancing the credibility of non-financial information;
  • Corporate governance mechanisms and non-financial reporting.

References

Bebbington, J., & Unerman, J. (2018). Achieving the United Nations Sustainable Development Goals: an enabling role for accounting research. Accounting, Auditing & Accountability Journal, 31(1), 2–24.

Bebbington, J., Kirk, E. A., & Larrinaga, C. (2012). The production of normativity: A comparison of reporting regimes in Spain and the UK. Accounting. Organizations and Society, 37(2), 78–94.

Boiral, O., Heras-Saizarbitoria, I., & Brotherton, M. C. (2019). Assessing and improving the quality of sustainability reports: The auditors’ perspective. Journal of Business Ethics, 155(3), 703–721.

Camilleri, M.A. (2015), "Environmental, social and governance disclosures in Europe", Sustainability Accounting, Management and Policy Journal, Vol. 6 No. 2, pp. 224–242.

Doni, F., Bianchi Martini, S., Corvino, A. and Mazzoni, M. (2019), “Voluntary versus mandatory non-financial disclosure: EU Directive 95/2014 and sustainability reporting practices based on empirical evidence from Italy”, Meditari Accountancy Research, Vol. ahead-of-print No. ahead-of-print.

Ioannou, I., & Serafeim, G. (2017). The consequences of mandatory corporate sustainability reporting. Harvard Business School research working paper, (11–100).

La Torre, M., Sabelfeld, S., Blomkvist, M., Tarquinio, L. and Dumay, J. (2018), “Harmonising nonfinancial reporting regulation in Europe: practical forces and projections for future”, Meditari Accountancy Research, Vol. 26 No. 4, pp. 598–621.

Manes Rossi, F., Tiron-Tudor, A., Nicolò, G. and Zanellato, G. (2018), “Ensuring more sustainable reporting in Europe using non financial disclosure – De facto and De jure evidence”, Sustainability, Vol. 10, pp. 1162, pp. 1–20.

Venturelli, A., Caputo, F., Cosma, S., Leopizzi, R. and Pizzi, S. (2017), “Directive 2014/95/EU: are Italian companies already compliant?”, Sustainability, Vol. 9 No. 8, pp. 1385–1404.

Prof. Adriana Tiron-Tudor
Dr. Giuseppe Nicolò
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1900 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Non-financial reporting
  • Sustainability reporting
  • Integrated reporting
  • Corporate Social Responsibility
  • Sustainable development
  • SDGs reporting
  • Non-financial directive
  • Non-financial accountability
  • ESG disclosure

Published Papers (4 papers)

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Research

Article
Disclosure Dynamics and Non-Financial Reporting Analysis. The Case of Romanian Listed Companies
Sustainability 2021, 13(9), 4732; https://doi.org/10.3390/su13094732 - 23 Apr 2021
Viewed by 442
Abstract
New challenges and perspectives to improve non-financial reporting and the disclosure of environmental, social, and governance indicators have been launched towards the development horizon of Romanian public interest entities, implementing the provisions of Directive 2014/95/EU in the local regulatory framework. In this context, [...] Read more.
New challenges and perspectives to improve non-financial reporting and the disclosure of environmental, social, and governance indicators have been launched towards the development horizon of Romanian public interest entities, implementing the provisions of Directive 2014/95/EU in the local regulatory framework. In this context, our approach focused on the content analysis of the non-financial information reported by listed companies, for the period 2017–2019, and the measure of the average disclosure degree on environmental, social, economic, and governance (ESEG) indicators. To measure the average degree of disclosure, a composite index was constructed through the main component analysis for categorical data that allowed the classification of sampled companies by sustainable performance. The results showed a slight increase in the ESEG disclosure index at the level of the sampled companies, from 47 units in 2017 to 52 units in 2019, several companies “went ahead” and others “recovered over the period”. Cross-sectional analysis revealed differences in the average non-financial disclosure index, and also in the disclosure index of ESEG indicators. The non-parametric correlation analysis highlighted the existence of a statistically significant positive correlation of medium intensity between the disclosure index of non-financial information and the publication of the non-financial statement or report. Full article
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Article
Sustainability Reporting in the Public Realm—Trends and Patterns in Knowledge Development
Sustainability 2021, 13(8), 4128; https://doi.org/10.3390/su13084128 - 07 Apr 2021
Cited by 1 | Viewed by 710
Abstract
In the wake of increased awareness, as there has been an increasing need for sustainability reporting, research studies have evolved over time. Addressing the challenges and pathways of research in the particular realm of public entities was appropriate to enrich the scientific literature. [...] Read more.
In the wake of increased awareness, as there has been an increasing need for sustainability reporting, research studies have evolved over time. Addressing the challenges and pathways of research in the particular realm of public entities was appropriate to enrich the scientific literature. Since prior studies either conducted a structured literature review on non-financial reporting formats or were focused exclusively on social and environmental accounting, and no bibliometric review has yet been conducted on sustainability reporting in the public sector, this study aims to fill this gap. The objective of the paper is to identify the trends and patterns in knowledge development in the area of sustainability reporting in the public sector to investigate its structure and derive inferences and insights. Bibliometric results reveal that research in this field is still at an early stage, showing an unsteady, slightly upward trend. The literature responded well to the need to enhance the understanding of the public institutions’ role in advancing non-financial reporting and evolved along with the continuous development of the related voluntary frameworks (e.g., GRI, <IR>). In this assent, further studies approaching the first mandatory regulation of non-financial information disclosure (Directive 95/2014/EU) are encouraged. Full article
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Article
Accountability and Reporting for Sustainability and Public Value: Challenges in the Public Sector
Sustainability 2021, 13(3), 1097; https://doi.org/10.3390/su13031097 - 21 Jan 2021
Cited by 1 | Viewed by 695
Abstract
The present study aims at identifying accountability and reporting answers to the public sector challenges surrounding public value and sustainability. To that end, we take into account the Cohesion Policy Programmes, the EU major investment strategy to understand needs and possible answers in [...] Read more.
The present study aims at identifying accountability and reporting answers to the public sector challenges surrounding public value and sustainability. To that end, we take into account the Cohesion Policy Programmes, the EU major investment strategy to understand needs and possible answers in terms of accountability and reporting of the public sector. Particularly, we will consider how a specific policy, the cohesion policy, takes place in practice in the Emilia-Romagna Region case, one of the most advanced European regions in terms of capacity in managing funds received by the EU Cohesion Policy. The Emilia-Romagna Region experience shows the extent to which it planned forms of accountability and reporting that hybridize two of the most recent sustainability developments, integrated reporting and sustainable development goals, as a means to deliver sustainability and public value. Full article
Article
The Level of European Companies’ Integrated Reports Alignment to the <IR> Framework: The Role of Boards’ Characteristics
Sustainability 2020, 12(21), 8777; https://doi.org/10.3390/su12218777 - 22 Oct 2020
Cited by 1 | Viewed by 774
Abstract
In terms of corporate governance, the board of directors (BoDs) is the main responsible structure in meeting and safeguarding both shareholders and stakeholders’ interests. Integrated reporting’s primary aim is to improve information quality provided to shareholders while responding to stakeholders’ interests and needs. [...] Read more.
In terms of corporate governance, the board of directors (BoDs) is the main responsible structure in meeting and safeguarding both shareholders and stakeholders’ interests. Integrated reporting’s primary aim is to improve information quality provided to shareholders while responding to stakeholders’ interests and needs. Using lenses of stakeholder theory, this study explores the relationship between board of directors’ characteristics as size, gender diversity, activity, tenure, outside directors, chief executive officer (CEO) duality and the Integrated Reports alignment level to the International Integrated Reporting Committee (IIRC) framework, using a self-constructed disclosure index. Applying a content analysis method, data were collected from integrated reports to determine the self-constructed disclosure index (Integrated Reporting Score—IRS). Through quantitative analysis, we analyzed which BoDs’ characteristics are correlated to IRS. The analyzed sample was formed of 98 integrated reports produced by 61 European companies, published on the IIRC website for the period 2013–2017. The current study contributes to existing knowledge by exploring the voluntary adoption of integrated reporting using quantitative analysis and focusing on the European context. The obtained results highlight that integrated report alignment levels with IIRF is directly correlated with the proportion of outside directors on the board and longer board tenure. Results show a higher alignment for reports produced by two-tier or mixed boards than the unitary ones. Additionally, there is a constant improvement in alignment score, with a statistical difference occurring in 2016 compared to 2013. Full article
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