Corporate Social Responsibility Reporting in Accordance with the New EU Legislation - Are Croatian Hotel Companies Ready for it?

14 Pages Posted: 30 Jul 2015 Last revised: 31 Jul 2015

See all articles by Milena Persic

Milena Persic

Faculty of Tourism and Hospitality Management, Opatija

Katarina Bakija

University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija

Dubravka Vlašić

University of Rijeka - Faculty of Tourism & Hospitality Management

Date Written: April 28, 2015

Abstract

The purpose of this research is to point out the ability and willingness of Croatian hotel companies to accept the provisions of the new EU Directive 2014/95, focused on disclosure of non-financial and diversity information by certain large undertakings and groups in accordance with the corporate social responsibility principles. Member States shall be obliged to comply with the regulation from January 2017 and listed companies are required to publish such reports no later than December 2018. In this paper the research results on the possibilities of application of the new provisions on EU requirements of Croatian hotel companies are presented. The research results indicate the possibility of Croatian hotel companies to implement the sustainability reporting system in accordance with EU Directive, as well as the framework of Global Reporting Initiative, UN Global Compact, Eco Management and Audit Scheme, as well as with ISO and accounting standards. The research results show that hotel companies in Croatia have developed a satisfactory level of internal accounting and reporting, focused on management information needs for short- and long-term decision making. However, sustainability reporting system in accordance with EU Directive should be significantly improved.

Keywords: Hotel Companies, Corporate Social responsibility, Accounting Reporting, BSC/SBSC, EU Directive 2014/95

JEL Classification: L83

Suggested Citation

Persic, Milena and Bakija, Katarina and Vlašić, Dubravka, Corporate Social Responsibility Reporting in Accordance with the New EU Legislation - Are Croatian Hotel Companies Ready for it? (April 28, 2015). 3rd International Scientific Conference Tourism in Southern and Eastern Europe, Vol. 3, pp. 295-308, 2015, Available at SSRN: https://ssrn.com/abstract=2637359

Milena Persic (Contact Author)

Faculty of Tourism and Hospitality Management, Opatija ( email )

Primorska 42
P.O. Box 97
Opatija, 51410
Croatia

Katarina Bakija

University of Rijeka, Faculty of Tourism and Hospitality Management, Opatija ( email )

Primorska 42
P.O. Box 97
Opatija, 51410
Croatia

Dubravka Vlašić

University of Rijeka - Faculty of Tourism & Hospitality Management ( email )

Primorska 42
P.O. Box 97
Opatija, 51410
Croatia

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