The impact of corporate sustainability reporting policy on the european companies
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Date
2025-09-17
Authors
Καψούρα, Μαρία
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Abstract
This thesis examines the impact of the Corporate Sustainability Reporting Directive (CSRD) on the-ESG performance of European firms. As the successor and expansion of the Non-Financial Reporting-Directive (NFRD), the CSRD represents the European Union’s most ambitious regulatory framework-for sustainability disclosure, aiming to improve the comparability and reliability of corporate reporting.
The empirical analysis relies on a panel dataset of 107 firms and employs fixed-effects regression-models, controlling for firm-specific characteristics and industry heterogeneity. The results indicate that-the CSRD exerts a positive and statistically significant effect on overall ESG performance, with the-strongest improvements observed in the social pillar, while the environmental dimension shows weaker-short-term effects.
The study contributes to academic literature by providing some of the first firm-level empirical-evidence on the effectiveness of mandatory ESG disclosure. From a practical perspective, it offers policy relevant insights for regulators and strategic guidance for companies adapting to the new reporting-requirements.
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Keywords
Corporate sustainability reporting directive (CSRD), ESG performance, Mandatory disclosure, European Union, Sustainability reporting, Corporate governance, Regulatory impact