1. Goranka Knezevic Mirjana Mijokovic
Sustainability Reporting of Listed Companies from Belgrade Stock Exchange
Goranka Knezevic
Mirjana Mijokovic

2. INTRODUCTION
The sample was the majority of the total of 113 companies listed on the Belgrade Stock Exchange in 2017 from different fields of business or different sectors.
Entities that make a sample of the survey are selected by the random selection method and belong to medium and large companies.
In this sample, 24 large companies are represented, while 89 of them belong to medium sized companies.
The methodology applied is the descriptive statistics of the analysis of the content of websites related to socially responsible business and the environment.
The analysis of the obtained data was processed using the Statistical Package for Social Sciences program, one of the most frequently used data processing programs today.

3. HYPOTHESIS
The following hypotheses can be defined on the above mentioned research papers:
H1: The companies listed in Serbia show a low CSR index value.
H2: The CSR index is heavily influenced by an adequate CSR website, social media and code of ethics.

4. OBJECTIVE OF RESEARCH
The goal of our research is to contribute to the existing literature on environmental reporting as a basis for analysing its impact on the operations of public companies.
The aim of this study is to research the level of information on disclosure of data on social and environmental data on the websites of companies located on the stock market.

5. METHODOLOGY OF RESEARCH
In the paper we will present some basic variables we used to create CSR (corporate social responsibility) index of Serbian companies in the sample from the Belgrade Stock Exchange, as well as the obtained value of this index.
The following parameters are gathered from the web pages of 113 companies in order to build CSR index: mission, CSR on the homepage, accessibility, social media, code of ethics, social reports, economic dimension, CSR projects, partnership, certificates and future investments.
The index methodology was followed by publication in the paper of Italian authors (Montecchia, Giordano & Grieco, 2016) and little changed.
The Lickert scale was developed and used in this research:

6. Detailed presentation
LICKERT SCALE
Lickert scale
No information 1
Only one sentence 2
Two sentences 3
Some details 4
Detailed presentation 5
Completely presented

7. DATA ANALYSIS DESCRIPTIVE STATISTICSN
Minimum
Maximum
Mean
Std. Deviation
Mission
113
.00
5.00
.3628
CSR on homepage
.7434
Accessibility/Access to information
1.4071
Social media
.6726
Code of ethics/Establishing ethical practice
1.3009
CSR projects
.4867
Partnership
.4336
Certificates
Future investments
.1327
.55909
CSR index
.0000
.8000
Valid N (listwise)

8. DATA ANALYSIS PEARSON STANDARD MOMENT CORRELATION
CSR index
Mission
CSR home page
Access to information
Using social media
Establishing ethical practice
Pearson Correlation 1
.550**
.752**
.603**
.409**
.741**
Sig. (2-tailed)
.000 N
113
.413**
.262**
.021
.276**
.005
.821
.003
CSR home page
.531**
.370**
.498**
Access to information
.169
.470**
.073
Using social media
.350**
Establishing ethical practice
**. Correlation is significant at the 0.01 level (2-tailed).

9. DATA ANALYSIS PEARSON CORRELATION COEFFICIENTS
CSR index
CSR projects
Partnership
Certificates
Future investments
Pearson Correlation 1
.685**
.433**
.653**
.373**
Sig. (2-tailed)
.000 N
113
.275**
.424**
.146
.003
.122
.273**
.189*
.045
.328**
**. Correlation is significant at the 0.01 level (2-tailed).
*. Correlation is significant at the 0.05 level (2-tailed).

10. CONCLUSION
Non-financial reporting is not mandatory in our country, because it has a candidate status and the implementation of this directive has not reporting is subject to financial reporting that is mandatory.
The results in this analysis are not surprising. Regarding H1, Serbian companies show a low CSR index. On the other hand, the H2 is partially accepted. Serbian companies do not use a lot of media to promote their ecological and social activities. The greatest impact on the CSR index is generated from the information available and from the code of ethics.
Without some rules and regulations in this filed, this low quality CSR reporting for Serbian companies will continue.

11. THANK YOU FOR YOUR ATTENTION !