“Analysis of the European Non-Financial Information Disclosure conformity for the fiscal year 2016 with Directive 2014/95/EU guidelines.” Focus on the non-financial information disclosure of European companies, specifically European PIEs from: Czech Republic, Ireland, Italy, Lithuania, Luxembourg, Malta, Netherlands, Poland and Sweden.

Abstract

Purpose – The objective of this dissertation is to understand the degree of conformity between the non-financial information disclosure of European PIEs, prior to the Directive 2014/95/EU, and the guidelines set by the Directive 2014/95/EU. PIEs were randomly selected from the following European Union Member States: Czech Republic, Ireland, Italy, Lithuania, Luxembourg, Malta, Netherlands, Poland and Sweden.

Design – The design of this dissertation follows a simple waterfall approach. First, it discusses the theoretical part, which will set the basic knowledge to understand the analytical part. Second, it presents the methodology used to create the random sample of PIEs that subsequently will be used to compose the database entities, which are examined in the third part. Third, this last part is the longest one and it concretely exhibits how PIEs in different nations are conformed to Directive 2014/95/EU guidelines. To perform this analysis, this part unites the theoretical conclusion of the first part and the database constructed in the second part.

Findings – Findings in this dissertation are, for the majority, connected to the analytical section and will communicate which nations are the best and which are the worst aligned with Directive 2014/95/EU guidelines. PIEs’ non-financial information analysed referred to the 2016 fiscal year. This section points out that countries like: Sweden, Netherlands, Luxembourg and Czech Republic have the most complete 2016 NFI disclosure, while they condemn Malta and Poland.

Research limitations – Main challenges encountered during the research and elaboration of this dissertation were the different methodologies, tactics and focal points in the disclosure of non-financial information by PIEs from the same or from different Member States. These differences created a big challenge for the interpretation of the data obtained. The next challenge resulted by the disclosure freedom granted by Directive 2014/95/EU guidelines. This gives scholars, on one hand, greater autonomy to interpret the conformity degree of non-financial information in the various disclosures. On the other hand, it leaves scholars a chance to incur in a lack of scientific observations methodology due to the non-homologation of the database components.

Value – The contribution brought forward by this dissertation is to convey attention to the Corporate Social Responsibility disclosure evolution till the fiscal year 2016. Furthermore, this analysis will allow other scholars to continue the study, extending it to the period after the Directive’s implementation. This will permit stakeholders to be informed and to create common standards during the CSR disclosure analysis for their corporate interests.