Повышает ли стоимость компании публикация нефинансовых отчетов по стандартам GRI? (на примере стран БРИКС)

Учет, анализ и аудит. 2017. № 2. С. 28–36.

Kuzubov S. A., Евдокимова М. С.

This paper provides a review of the literature about the impact of non-financial reporting (NFR) on the 

market to book ratio and empirical research based on the comparison of the companies that issued the  reports according to the General Reporting Initiative (GRI) standards in 2004–2014 with the companies  which published only financial statements. The sample is drawn from the companies based in Brazil, Russia,  India, China and South Africa (BRICS). Financial data were taken from the Compustat database, the list of  companies producing non-financial statements has been obtained from the GRI website. Using the latest  version of the Olson’s model it has been revealed that the issue of a report in accordance with the GRI  guidelines has a positive significant effect during that year and the year after the release. Also, there have  been identified some sectors for which the publication of such statements is significant.

Keywords: интеллектуальный капитал, non-financial reporting, Intellectual capital, intellectual capital disclosure, disclosure index, emerging markets, BRICS, value, финансовая и нефинансовая отчетность, GRI, GRI