Corporate Transparency, Sustainable Development and SDG 2 and 12 in Agriculture: The Case of Ukraine
No 3/2022, September
Makarenko, I., Plastun, A., Kozmenko, S., Kozmenko, O. and Rudychenko, A. (2022) "Corporate Transparency, Sustainable Development and SDG 2 and 12 in Agriculture: The Case of Ukraine", AGRIS on-line Papers in Economics and Informatics, Vol. 14, No. 3, pp. 57-70. ISSN 1804-1930. DOI 10.7160/aol.2022.140305.
This paper explored sustainability transparency and SDGs 2 and 12 disclosure and its influence on their overall efficiency, using data from Ukrainian agricultural companies. To do this Sustainability Transparency Index (STI) methodology is developed and used. The following hypothesis is tested: the higher the STI score is, the better position of the company is among its peers. For these purposes, STI index is calculated for the top100 Ukrainian agriculture companies. Correlation analysis, Granger causality tests and regression analysis provide evidences in favour of high dependence of position in top100 from the STI score: the more efforts companies invest into Sustainability Transparency, the higher the position in ranking is. This is direct evidence that companies’ sustainability transparency is an important element of its activity nowadays. Recommendations to improve sustainability transparency based on suitable reporting practices are provided in this paper.
Sustainable development goals, transparency, sustainability reporting, Sustainability Transparency Index, agricultural management, resilient agricultural practices.
- Androniceanu, A. (2019) "Social Responsibility, an Essential Strategic Option for a Sustainable Development in the Field of Bio-Economy", Amfiteatru Economic, Vol. 21, No. 52, pp. 503-519. ISSN 2247-9104. DOI 10.24818/EA/2019/52/503.
- Androniceanu, A. (2021) "Transparency In Public Administration As A Challenge For A Good Democratic Governance", Administratie si Management Public, Vol. 36, pp. 149-164. ISSN 1583-9583. DOI 10.24818/amp/2021.36-09.
- Bilan, Y., Mishchuk, H., Samoliuk, N. and Mishchuk, V. (2020) "Gender discrimination and its links with compensations and benefits practices in enterprises", Entrepreneurial Business and Economics Review, Vol. 8, No. 3, pp.189-204. ISSN 2353-8821. DOI 10.15678/EBER.2020.080311.
- Çera, G., Belas, J., Marousek, J. and Çera, E. (2020) "Do size and age of small and medium-sized enterprises matter in corporate social responsibility?", Economics and Sociology, Vol. 13, No. 2, pp. 86-99. ISSN 2306-3459. DOI 10.14254/2071-789X.2020/13-2/6.
- Cortez, M., Silva, F. and Areal, N. (2009) "Socially Responsible Investing in the Global Market: The Performance of US and European Funds”, International Journal of Finance & Economics, Vol. 17, No 3, pp. 254-271. ISSN 10769307. DOI 10.2139/ssrn.1342469.
- Daugaard, D. (2020) "Emerging new themes in environmental, social and governance investing: a systematic literature review”, Accounting & Finance, Vol. 60, No 2, pp. 1501-1530. ISSN 0810-5391. DOI 10.1111/acfi.12479.
- Indahl, R. and Jacobsen, H. (2019) "Private Equity 4.0: Using ESG to Create More Value with Less Risk Summa Equity”, Journal of Applied Corporate Finance, Vol. 31, No 2, pp. 34-42. ISSN 1078-1196. DOI 10.1111/jacf.12344.
- Latifundist (2021) "Ukrainian agro companies". [Online]. Available: https://latifundist.com/rating/top100#315 [Accessed: 10 Dec. 10, 2021].
- López, M. V., Garcia, A. and Rodriguez, L. (2007) "Sustainable development and corporate performance: A study based on the Dow Jones Sustainability Index”, Journal of Business Ethics, Vol. 75, pp. 285-300. ISSN 0167-4544. DOI 10.1007/s10551-006-9253-8.
- Makarenko, I. Sukhonos, V., Zhuravlyova, I., Legenchuk, S. and Szołno, O. (2020) "Sustainability reporting assessment for quality and compliance: the case of Ukrainian banks’ management reports”, Banks and Bank Systems, Vol. 15, No 2, pp. 117-129. ISSN 1816-7403. DOI 10.21511/bbs.15(2).2020.11.
- MSCI (2021) " Investment Insights 2021", Global Institutional Investor Survey. [Online]. Available: https://www.msci.com/zh/our-clients/asset-owners/investment-insights-report [Accessed: Dec. 10, 2021].
- Myšková, R. and Hájek, P. (2019) "Relationship between corporate social responsibility in corporate annual reports and financial performance of the US companies", Journal of International Studies, Vol. 12, No. 1, pp. 269-282. ISSN 2306-3483. DOI 10.14254/2071-8330.2019/12-1/18.
- Nicolescu, L., Tudorache, F. G. and Androniceanu, A. (2020) "Performance risk analysis on mutual funds versus stock exchanges in young financial markets", Journal of International Studies, Vol. 13, No. 1, pp. 279-294. ISSN 2306-3483. DOI 10.14254/2071-8330.2020/13-1/18.
- Oláh, J., Popp, J., Duleba, S., Kiss, A. and Lakner, Z. (2021) "Positioning Bio-Based Energy Systems in a Hypercomplex Decision Space - A Case Study”, Energies, Vol. 14, No. 14, pp. 1-17. ISSN 1996-1073. DOI 10.3390/su13169157.
- Plastun, A., Makarenko I., Kravchenko O., Ovcharova N. and Oleksich Z. (2019) "ESG disclosure regulation: in search of a relationship with the countries’ competitiveness”, Problems and Perspectives in Management, Vol. 17, No. 3, pp. 76-88. ISSN 1727-7051. DOI 10.21511/ppm.17(3).2019.06.
- Plastun, A., Makarenko I., Khomutenko L., Osetrova O. and Shcherbakov, P. (2020) "SDGs and ESG disclosure regulation: is there an impact? Evidence from Top-50 world economies”, Problems and Perspectives in Management, Vol. 18, No 2, pp. 231-245. ISSN 1727-7051. DOI 10.21511/ppm.18(2).2020.20.
- Plastun, A., Makarenko I., Grabovska T., Situmeang, R. and Bashlai, S. (2021) "Sustainable Development Goals in agriculture and responsible investment: A comparative study of the Czech Republic and Ukraine”, Problems and Perspectives in Management, Vol. 19, No 2, pp. 65-76. ISSN 1727-7051. DOI 10.21511/ppm.19(2).2021.06.
- Popp, J., Kovács, S., Oláh, J., Divéki, Z. and Balázs, E. (2021) "Bioeconomy: Biomass and biomass-based energy supply and demand”, New Biotechnology, Vol. 60, pp. 76-84. ISSN 1871-6784. DOI 10.1016/j.nbt.2020.10.004.
- Pronko L., Furman I., Kucher A. and Gontaruk Y. (2020) "Formation of a state support program for agricultural producers in Ukraine considering world experience", European Journal of Sustainable Development, Vol. 9, No. 1, pp. 364-379. ISSN 2239-6101. DOI 10.14207/ejsd.2020.v9n1p364.
- Samoliuk, N., Bilan, Y. and Mishchuk, H. (2021) "Vocational training costs and economic benefits: exploring the interactions", Journal of Business Economics and Management, Vol. 22, No. 6, pp. 1476-1491. ISSN 1611-1699. DOI 10.3846/jbem.2021.15571.
- Statman, M. (2000) "Socially Responsible Mutual Funds”, Financial Analysts Journal, Vol. 563, pp. 30-39. ISSN 1938-3312. DOI 10.2469/faj.v56.n3.2358.
- Sukhonos, V., Makarenko I., Serpeninova, Y., Drebot, O. and Okabe, Y. (2019) "Patterns of corporate social responsibility of Ukrainian companies: clustering and improvement strategies for responsible activities”, Problems and Perspectives in Management, Vol. 17, No. 2, pp. 365-375. ISSN 1727-7051. DOI 10.21511/ppm.17(2).2019.28.
- Sunderji, S., Bass, R., Hand, D. and Nova, N. (2020) "Understanding Impact Performance: Agriculture Investments”, Global Impact Investing Network / The GIIN [Online]. Available: https: //thegiin.org/assets/Understanding%20Impact%20Performance_Agriculture%20Investments_webfile.pdf [Accessed: 10 Dec. 2021].
- UN Global Compact (2021a) "UN Global Compact Participants" [Online]. Available: https: //www.unglobalcompact.org/what-is-gc/participants/ [Accessed: Dec. 10, 2021].
- UN Global Compact (2021b) "Food and Agriculture Business Principles", Global Compact. [Online]. Available: https://d306pr3pise04h.cloudfront.net/docs/issues_doc%2Fagriculture_and_food%2FFABPs_Flyer.pdf [Accessed: Dec. 10, 2021].
- United Nations (2015) "Resolution adopted by the General Assembly on 25 September 2015". [Online]. Available: https://www.un.org/en/development/desa/population/migration/generalassembly/docs/globalcompact/A_RES_70_1_E.pdf [Accessed: Dec. 10, 2021].
- Urbancová, H. and Vrabcová, P. (2020) "Factors influencing the setting of educational processes in the context of age management and CSR", Economics and Sociology, Vol. 13, No 3, pp. 218-229. ISSN 2306-3459. DOI 10.14254/2071-789X.2020/13-3/13.
- Vo, H. D., Van, T. H. L., Dinh, T. H. L. and Ho, M. C. (2020) "Financial inclusion, corporate social responsibility and customer loyalty in the banking sector in Vietnam", Journal of International Studies, Vol. 13, No. 4, pp. 9-23. ISSN 2306-3483. DOI 10.14254/2071-8330.2020/13-4/1.