NON-FINANCIAL INFORMATION DISCLOSURES AND CSR REPORTING VERSUS THE INFORMATION ASYMMETRY PROBLEM

The 21st century is called the era of information. Access to information is equally important for potential investors as well as recipients of financial statements. As researches show, reports users expect a growing range of disclosed information regarding not only traditional financial, but also non-financial data. Therefore, there arises a question about the scope and reliability of data disclosures and their impact on the problem of information asymmetry. Poland's implementation of the Directive 2014/95/EU has crucial importance taking into account the changes in the Accounting Act, which introduced an obligation for the largest Polish companies to disclose non-financial data. The aim of the article is to draw attention to the concept of CSR reporting as well as non-financial information disclosures and their impact on the problem of information asymmetry observed in modern companies. On the basis of a critical analysis of the literature of subject and legal acts, author will describe the problem of information asymmetry and the possibilities of its's reduction by implementation concept of CSR and CSR reporting as well as non-financial information disclosures. In empirical part of this paper, PARP Report will be analysed in order to present results of implementing CSR concept in 123 Polish companies in 2016. The aim of article is also to underline the differences between CSR reporting and non-financial information disclosures. Research contribution of this paper is to provide a better understanding of discussed phenomena as well as to initiate a discussion on the problem of information overload.