Organizational sustainability efforts focus on three main areas: people, profit, and the environment (Elkington, 1998). With an increasing emphasis on sustainable development, economic entities are concerned with achieving long-term performance, the capacity to create value and to meet the needs of interest groups (investors, employees, customers, communities, local development), but also on the development, promotion and implementation of concrete actions for environmental protection. This study aims to identify the current stage of the relationship between sustainable development and financial performance, in order to identify key elements, trends and research gaps. Based on these considerations, we performed a quantitative analysis of a sample of 62 articles from 3 databases (ScienceDirect, Scopus and Web of Science), which we subsequently studied qualitatively.
To adapt to the business environment, organisations adhere to management strategies capable of removing the effects of negative events, transforming themselves into resilient organisations. Physical and mental difficulties are the consequences of recent corporate developments, and protecting these organisations is a significant concern for managers. Using regression analysis of panel data, we evaluate the effectiveness and performance of 34 tourism and transport companies listed on the BSE in the 2005–2022 period by testing the effect of leverage on financial performance. Then, we focus on identifying the effects of recent crises (the global financial crisis of 2007–2008 and the COVID-19 pandemic) on financial performance and, implicitly, on organisational resilience. The findings suggest that the research hypotheses were partially validated, noting that the indicators included in the study registered significant decreases for the COVID-19 crisis period compared to the global financial crisis period. The paper provides information on measuring the resilience of companies through their ability to withstand the global financial crisis and the crisis triggered by the COVID-19 pandemic. This study is also among the first to examine the role of financial crises in the leverage and financial performance relationship in Romania.
28 December 2023 in Journal of Infrastructure, Policy and Development
This paper conducts a comparative analysis of mentoring and metacognition in education, unveiling their intricate connections. Both concepts, though seemingly disparate, prove to be interdependent within the educational landscape. The analysis showcases the dynamic interplay between mentoring and metacognition, emphasizing their reciprocal influence. Metacognition, often perceived as self-awareness and introspection, is found to complement the relational and supportive nature of mentoring. Within this context, metacognitive education within mentoring emerges as a vital component. Practical recommendations are offered for effective metacognitive training, highlighting its role in enhancing cognitive and metacognitive skills. Moreover, the paper introduces the concept of a “mentoring scaffolding system.” This system emphasizes mentor-led gradual independence for mentees, facilitating their professional and personal growth. The necessity of fostering a metacognition culture in education is a central theme. Such a culture promotes improved performance and lifelong learning. The paper suggests integrating metacognition into curricula and empowering learners as essential steps toward achieving this culture. In conclusion, this paper advocates for the integration of metacognition into mentoring and education, fostering self-awareness, independence, and adaptability. These attributes are deemed crucial for individuals navigating the challenges of the information age.
20 June 2024 in Scientific Annals of Economics and Business
Sustainability can guide the decision-making process of managers in obtaining competitive advantages. Incorporating sustainability criteria into the main managerial strategies of organizations generates long-term profitability. Using Structured Literature Review (SLR) as a research methodology we synthesize the characteristics and differences between financial performance and sustainability in the context of organizational resilience. Therefore, this paper offers a comprehensive structured literature review based on the relationship between the concepts of financial performance, sustainability, and organizational resilience, using research studies from four main databases: Web of Science, Scopus, ScienceDirect, and Springer. In carrying out this study, we identified the current trends in the specialized literature regarding the relationship between financial performance and sustainability in the context of organizational resilience as they were debated in the analysed literature, until the end of September 2023, in 116 papers.
The study investigates the association between sustainability reporting practices and the development of revenue per employee and profitability over a prolonged period, relative to companies that are less committed to reporting their sustainability performance. Using Welch’s t-test, we compared 247 listed European companies that disclosed sustainability performance information consistently over a 20-year period (2005–2024) with 172 other companies that either did not disclose sustainability performance or reported it intermittently. The comparison focused on financial performance and sales generated during the period under analysis. To test whether ESG scores have a beneficial effect on the development of the companies included in the study, we utilized panel data regression analysis with firm fixed effects and a correlated random-effects (Mundlak) specification including country and industry effects, with the 2007–2009 global financial crisis and the 2020–2021 COVID-19 pandemic modeled explicitly as shocks. The results indicate that organizations reporting ESG scores continuously exhibit modestly higher long-term profitability than companies in the control group, whereas changes in the ESG score level within firms are not associated with higher profitability, and neither the ESG score nor continuous reporting is associated with different profitability during the crisis periods. However, companies reporting ESG score information do not exhibit greater long-term development potential than those that do not engage in ESG score reporting. Overall, continuous ESG reporting is associated with modestly higher long-term profitability, while the study finds no direct evidence that ESG reporting improves performance during major economic shocks.