Od antycypacji regulacyjnej do działania: ujawnianie oceny istotności w obliczu presji wynikającej z ESRS
From regulatory anticipation to action: Materiality assessment disclosure under ESRS

Summary/Abstract: Purpose: The aim of this study is to determine how companies adjust their disclosures on Materiality Assessment (MA) in response to anticipated regulation during the transitional period preceding the mandatory implementation of the European Sustainability Reporting Standards (ESRS). Methodology/approach: The analysis is based on 100 reports published by Polish companies. Using a six-point disclosure scale, we assess the depth of MA disclosures. OLS regression identifies determinants of disclosure quality. The study draws on institutional and signalling theory. Findings: MA disclosure during the transitional period exhibits substantial heterogeneity. While some firms provide comprehensive, methodologically grounded materiality analyses, many limit disclosures to general statements. Stakeholder engagement, recognised reporting frameworks – especially early ESRS adoption – and external assurance are positively associated with disclosure depth. Firm size, sector affiliation, and ESG index membership are not statistically significantly associated with the level of MA disclosures, whereas financial leverage shows a weak negative association with MA disclosures. The results suggest that the MA-related disclosures are driven primarily by normative pressures and signalling incentives rather than structural firm attributes. Originality/value: The study demonstrates how regulatory anticipation influences voluntary sustainability disclosures. It highlights the role of early ESRS adoption as a signal of organisational preparedness. Practical implications: The findings suggest that firms can enhance MA credibility during regulatory transitions by strengthening stakeholder engagement, adopting recognised standards early, and securing external assurance.

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