Importance of social and sustainability reporting in ensuring transparency and disclosure

Economic Annals-ХХI: Volume 144, Issue 9-10(1), Pages: 61-64

Citation information:
Šneidere, R., & Vīgante, I. (2014). Importance of social and sustainability reporting in ensuring transparency and disclosure. Economic Annals-XXI, 9-10(1), 61-64. https://ea21journal.world/index.php/ea-v144-15/

Ruta Sneidere
PhD (Economics),
Associate Professor,
University of Latvia
5 Aspazijas Blvd, Riga, LV-1050, Latvia
ruta.sneidere@lu.lv

Inese Vigante
PhD Student,
University of Agriculture of Latvia
18 Svetes Str., Jelgava, LV-3001, Latvia
inese_vigante@inbox.lv

Importance of social and sustainability reporting in ensuring transparency and disclosure

Abstract. Information availability and disclosure from companies allows not only providing the society with information, but it also gives the opportunity to address different socially negative phenomena which have become international problems, in economics, politics and social area. The authors of the paper investigate the importance of sustainability reporting and related issues of corruption. Our research shows that in Europe, more than four of ten companies consider that corruption obstructs entrepreneurship. Information availability and disclosure are those principles that allow avoiding corruptive situations and relations. Transparency is bound with the public informing and educating about corruption preventing. Application of social accounting principles should be encouraged based on the standards of the Global Reporting Initiative (GRI).

Keywords: Disclosure; Sustainability; Transparency; Corruption; GRI

JEL Classification: M41; M48

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Received 22.07.2014