THE IMPACT OF SUSTAINABLE REPORTING ON THE FINANCIAL PERFORMANCE OF ENERGY AND GAS COMPANIES LISTED ON THE BUCHAREST STOCK EXCHANGE. AN EMPIRICAL APPROACH

Abstract

The financial performance of a company whose operating activity has a significant social impact on the environment is influenced by the sustainable reporting of these two indicators, for investors that manifest interest, whose orientation involves sustainable development, being a new economic concept. This research aims to highlight how sustainable reporting has a direct impact on an entity’s performance, by quantifying the environmental variable and the social variable in a scoring matrix, by assigning values based on the completeness of reporting the data found in the reports of 8 entities in the field of energy and the exploitation and transportation of natural gas and oil listed in category I on the Bucharest Stock Exchange, regarding the programs undertaken, the approvals obtained or the quality standards to which they aligned. The research results are based on correlation and regression econometric calculations to identify the correlations between the score variable and financial performance.

Keywords

• sustainable reporting, sustainable development, financial performance, environmental indicators, social dimension, variable score