ACADEMIA AND ITS ROLE IN BUSINESS FINANCIAL REPORTING
Abstract
The role of academia and business in financial reporting has evolved significantly in recent decades, especially with the integration of ESG-s dimensions in this reporting. The academy-business-government “triangle” model represents a strategic framework for cooperation that directly impacts the quality, standardization, and reliability of sustainability reporting. Academia contributes through scientific research, the development of theoretical frameworks and especially for the preparation of future professionals. Business, on the other hand, represents the practical need for these standards’ application, reflecting the real challenges of measuring, reporting and integrating ESG-s factors into strategic decision-making and long-term value creation. Government and regulatory institutions play a key role in creating the legal and supervisory framework, promoting transparency, accountability, and harmonization with international practices. The interaction between these three actors strengthens the financial reporting ecosystem, increases investor confidence, and contributes to the development of sustainable markets. Based on the above, this scientific paper focuses on a combined analysis of the importance of cooperation between the three actors mentioned above as well as an empirical analysis, based on the current behaviour of Albanian businesses towards sustainable finance and specifically the need for preparing the non-financial reports. The empirical analysis consists of the use of Chi-square tests and the construction of a linear regression, based on a database of 169 questionnaires, completed by business representatives at the managerial level. The businesses were randomly selected, in different cities of the country, different sizes and different sectors of economy. Based on the analyses conducted, the importance of knowledge in the field of sustainability and specifically in the preparation of non-financial reports is highlighted, in order to improve the approach of businesses towards promoting sustainable investments, reducing costs, and creating long-term value.
JEL: Q01, I25, M14
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DOI: http://dx.doi.org/10.46827/ejefr.v10i4.2233
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