THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY

Purpose of the study: It is expected that the publication of non-financial reporting in the field of sustainable development of pharmaceutical industry will have a positive effect on the value of the firm. Methodology: As part of this work, to select the best model, all models will be tested using the statistical tests. Then a sample consisting of 1762 observations and the following set of variables will be used to test the models: Tobin's Q, Sales, Capital Costs, Financial Leverage, WACC, Profit Margin, etc. Based on these previous points, a set of panel regressions was built with a fixed effect for testing the hypothesis. Approach: Despite the initial formulation of hypotheses about the positive impact of non-financial reporting on the value of the company, all the results suggest otherwise. The result obtained may be due several factors, for example, the fact that the effect of a variable is delayed or not at all because non-financial reporting has a low level of readability, which only leads to costs in the current period and the absence of additional income in the future. Findings: The results obtained support the hypothesis that the effect manifests itself differently in different sectors. For the Industrials and utility sector, there is a positive significant effect at all reasonable levels of significance of the GRI variable on the dependent one, which may indicate that investors in this industry are interested in non-financial reporting, which leads to added value. How to Cite this Article Pubmed Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. SRP. 2020; 11(12): 1514-1522. doi:10.31838/srp.2020. 12.223 Web Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. http://www.sysrevpharm. org/? mno=16593 [Access: March 28, 2021]. doi:10.31838/srp.2020. 12.223 AMA (American Medical Association) Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. SRP. 2020; 11(12): 1514-1522. doi:10.31838/srp.2020. 12.223 Vancouver/ICMJE Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. SRP. (2020), [cited March 28, 2021]; 11(12): 1514-1522. doi:10.31838/srp.2020. 12.223 Harvard Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly (2020) THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. SRP, 11 (12), 1514-1522. doi:10.31838/srp.2020. 12.223 Turabian Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. 2020. THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. Systematic Reviews in Pharmacy, 11 (12), 1514-1522. doi:10.31838/srp.2020. 12.223 Chicago Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. "THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. " Systematic Reviews in Pharmacy 11 (2020), 1514-1522. doi:10.31838/srp.2020. 12.223 MLA (The Modern Language Association) Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly. "THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. " Systematic Reviews in Pharmacy 11.12 (2020), 1514-1522. Print. doi:10.31838/srp.2020. 12.223 APA (American Psychological Association) Style Tatiana Bondarenko, Natalia Prodanova, Alex Borodin, Alexander Kokorev, Aidyn Kairbekuly (2020) THE ROLE OF NON-FINANCIAL REPORTING IN CORPORATE SUSTAINABILITY OF PHARMACEUTICAL INDUSTRY. Systematic Reviews in Pharmacy, 11 (12), 1514-1522. doi:10.31838/srp.2020. 12.223