Non-Financial Information Disclosure and Company Value

The work is devoted to the investigation of the influence of disclosure of non-financial information of Russian companies on financial indicators for the sample 2006-2016. The study of the publication of non-financial reporting is devoted to both theoretical and empirical literature, the majority of empirical studies have revealed the positive impact of non-financial reporting on the financial stability of companies. However, these studies do not investigate the impact of the publication of non-financial reporting on the financial performance of Russian companies. As a result of the research, it was found that the publication of non-financial information leads to an expansion of the market value to the balance sheet, both the next year after publication, and on a longer term horizon. It was also shown that the disclosure of non-financial information has a positive effect on the return on assets, and this effect is not manifested in the reporting year, but starting next year. In addition, the results of studies on the effect that the publication of non-financial statements depend on the industry of the company.