Abstract
Due to many social and environmental challenges in the last decade, many companies recognized the importance of non-financial reporting to provide complete overview of its performance and socially responsible behaviour. Furthermore, for some companies the obligation of non-financial reporting has been institutionalized by European commission directives. This paper explores the extent of non-financial reporting regarding employment-matters in hospitality industry in Croatia. Research objective of the paper is to assess the type and amount of information regarding employment and human resource management related issues disclosed by hospitality industry companies listed on Zagreb Stock Exchange. Research results indicate that the quantity of disclosed information increased after implementing EU directives on non-financial reporting, but there is still room for improvement. It is expected that hospitality industry companies will disclose even more employee-related indicators in the future due to the importance they give to their human resources and the importance of such indicators is further discussed in this paper.
Highlights
Companies’ business performance is usually measured by the financial and quantitative indicators presented in financial statements such as balance sheet, profit and loss account, cash flow statement, notes to the financial statements etc
This paper explores the extent of non-financial reporting regarding employment-matters in hospitality industry in Croatia
Hospitality industry companies listed on Zagreb Stock Exchange (ZSE) were the subject of this research; in 2018 hospitality sector consisted of 21 Croatian company and all these were included in this research
Summary
Companies’ business performance is usually measured by the financial and quantitative indicators presented in financial statements such as balance sheet, profit and loss account, cash flow statement, notes to the financial statements etc. Stolowy & Paugam (2018) document a significant increase in the amount of NFR, between 2006 and 2011. Due to many social and environmental challenges appearing in the last decade, many companies, especially large ones, recognized the importance of non-financial reporting (NFR) to provide complete overview of its performance and socially responsible behaviour to users of financial statements and different interest groups. This change appears to be driven by new environmental, human capital, performance and strategic disclosures. Most information is presented on voluntary basis and companies often disclose only positive information, avoiding the publication of adverse information which could make the quality and completeness of such reports questionable
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