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Innovation and Sustainability: Disclosure Practices of Hungarian Pharmaceutical Companies
Today, innovation and sustainability are issues that organizations need to address when they compose their strategies. Moreover, it is not enough to align these with organizational objectives, it is also necessary to inform the stakeholders about the firms’ attitude towards R&D&I and its connection with sustainability. The tool for this communication – besides the narrative parts of traditional financial statements – is voluntary reporting. This paper presents an empirical research about the disclosure practices of dominant actors of the Hungarian pharmaceutical industry: the aim of the content analysis is to discover items related to innovation and sustainability in the mandatory and voluntary reports issued by companies. This is done in order to support planned future research aiming to compare the disclosure practices of different reporting environments. We concentrate on the Hungarian market at this initial phase because our first aim is to come up with a list of items to search for in financial statements. Results show that the reporting practices of the sample firms are determined by the requirements of the Hungarian Accounting Act. Voluntary reporting and voluntary disclosure were found only in case of the sole public entity in the sample, which presented the highest scores. Another important finding is that the two areas of our interest were not interlinked in the statements, so companies did not report on the sustainability aspects of their research practices.
Innovation and Sustainability: Disclosure Practices of Hungarian Pharmaceutical Companies
Today, innovation and sustainability are issues that organizations need to address when they compose their strategies. Moreover, it is not enough to align these with organizational objectives, it is also necessary to inform the stakeholders about the firms’ attitude towards R&D&I and its connection with sustainability. The tool for this communication – besides the narrative parts of traditional financial statements – is voluntary reporting. This paper presents an empirical research about the disclosure practices of dominant actors of the Hungarian pharmaceutical industry: the aim of the content analysis is to discover items related to innovation and sustainability in the mandatory and voluntary reports issued by companies. This is done in order to support planned future research aiming to compare the disclosure practices of different reporting environments. We concentrate on the Hungarian market at this initial phase because our first aim is to come up with a list of items to search for in financial statements. Results show that the reporting practices of the sample firms are determined by the requirements of the Hungarian Accounting Act. Voluntary reporting and voluntary disclosure were found only in case of the sole public entity in the sample, which presented the highest scores. Another important finding is that the two areas of our interest were not interlinked in the statements, so companies did not report on the sustainability aspects of their research practices.
Innovation and Sustainability: Disclosure Practices of Hungarian Pharmaceutical Companies
Kovács, Zsuzsanna Ilona (author) / Lippai-Makra, Edit (author)
2018-01-01
Journal of Accounting and Management ; ISSN 1848-137X (Print) ; ISSN 2459-5888 (Online) ; Volume 8 ; Issue 2
Article (Journal)
Electronic Resource
English
DDC:
690
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