(Non)Financial Reporting (A)Symmetries in the Case of Amusement Parks in Europe
Calu, D.A., Dumitru, M., Glăvan, M.E. and Gușe, R.G., 2016. (Non)Financial Reporting (A)Symmetries in the Case of Amusement Parks in Europe. Amfiteatru Economic, 18(Special Issue No. 10), pp. 1015-1033
19 Pages Posted: 31 Oct 2016
Date Written: October 30, 2016
Financial and non-financial reporting concerns in various industries are current challenges. With respect to tourism – the case of amusement parks – the existing research is scarce. In this context, the objectives of our research are the following:
(i) to identify and critically analyse the key financial and non-financial reporting frameworks applicable in tourism, and respectively,
(ii) to identify the general trend and specific features of the financial and non-financial reporting of companies that manage major amusement parks in Europe.
To achieve these objectives, we analysed the most recent sets of annual reports and other reports containing non-financial information, published by a number of five companies that hold the top 20 amusement parks in Europe. We followed a set of non-financial indicators that we selected based on the following reporting frameworks: Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), European Federation of Financial Analysts (EFFAS), Organisation for Economic Co-operation and Development (OECD), European Tourism Indicators System (ETIS).
The results obtained indicate the following existing trends:
(i) in terms of financial reporting, there is symmetry for four of the 13 analysed aspects, others being reported differently and,
(ii) in terms of non-financial reporting, the degree of symmetry for the information disclosed is much lower that of financial reporting, only two of the 46 selected non-financial indicators (customer satisfaction and number of customers) being consistently reported by all the investigated companies.
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