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Non-financial disclosure and financial performance: the consequences of the EU Non-Financial Reporting Directive in Italy

Michela Cordazzo et al.

International Journal of Business Governance and Ethics2026https://doi.org/10.1504/ijbge.2026.152022article
AJG 2
Weight
0.50

What the paper says

The EU NFR Directive makes the NFD mandatory for the European largest listed firms. The paper offers an empirical analysis of the association between NFD and FP over the application of the Directive in Italy, testing the reverse causality between NFD and FP. We find a positive relationship from FP to NFD, but no evidence of a reverse relationship from NFD to FP. Furthermore, our results show a moderate impact of the Directive on NFD, as the Directive allows firms providing only a minimum amount of NFD or any information. Our study makes two main contributions. First, it contributes to the debate on the regulation of NFD. Second, it widens the scope of other studies on the relationship between NFD and FP, as it offers theoretical and empirical arguments on the relationship between NFD and FP over the transition from a voluntary to a mandatory disclosure setting.

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Cite this paper

https://doi.org/https://doi.org/10.1504/ijbge.2026.152022

Or copy a formatted citation

@article{michela2026,
  title        = {{Non-financial disclosure and financial performance: the consequences of the EU Non-Financial Reporting Directive in Italy}},
  author       = {Michela Cordazzo et al.},
  journal      = {International Journal of Business Governance and Ethics},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1504/ijbge.2026.152022},
}

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Non-financial disclosure and financial performance: the consequences of the EU Non-Financial Reporting Directive in Italy

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.