Directive 2014/95/EU: Are Italian Companies Already Compliant?
By A. Venturelli, F. Caputo, Simona Cosma, Rossella Leopizzi, S. Pizzi. 2017
135 citations recorded by the source corpus.
According to Directive 2014/95/EU on disclosure of non-financial information from 2017 onwards, large companies (exceeding 500 employees) headquartered in Member States will be required to provide a series of social, environmental, and governance statements. The Directive was transposed into Italian law by Legislative Decree 254 of 30 December 2016.The aim of this paper is to evaluate the information gap for Italian companies and,consequently,the adjustments required by the new Directive on non-financial information. In order to analyze the level of non-financial and diversity disclosure, we created an assessment model called “Non-financial information score”, which records the required information as a percentage. We apply it to a sample of 223 large companies.The results (with an average NFIscore of about 49%) show that, in spite of what has previously emerged in the European debate about the application of the Directive on the part of large companies, an information gap remains, although the implementation of the directive should help to fill it in the coming years.In this sense, the potential contribution of the EU directive to non-financial disclosure in Italy appears to be greater than we had expected. Thus, in accordance with the literature, this paper appears to confirm the role of regulation in improving the quality of disclosure of non-financial information.
Subfields: Accounting, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/4748ca13289e4f19662b03cc4c52010a6e8517c7
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Citations in the corpus
- CSR Disclosure in Polish-Listed Companies in the Light of Directive 2014/95/EU Requirements: Empirical Evidence (2017, unknown): “Polish companies is low compared to that of Italian companies, which show an average non-financial information score of about 49% [19].”
- Empirical Analysis of Non-Financial Reporting by Spanish Companies (2018, unknown): “The Member States were required to transpose the Directive into their national legislation before 2017, such that the companies addressed would publish their first non-financial reports from the financial year starting in 2017 (See for instance, Venturelli et al. 2017; Manes-Rossi et al. 2018).”
- A Social Enterprise Approach to Empowering Micro, Small and Medium Enterprises (SMEs) in Indonesia (2020, background): “company performance, operational impact, and employee performance [42].”