IDEAS home Printed from https://ideas.repec.org/a/ddj/fseeai/y2025i2p250-257.html

Sustainability and Financial Performance: Exploring the Interconnections Through the Accounting Perspective in Romania

Author

Listed:
  • Florentina Moisescu

    (Dunarea de Jos University of Galati, Romania)

Abstract

Amid the EU’s transition to mandatory sustainability reporting (CSRD), this study explores the relationship between ESG performance and financial results among five major Romanian energy companies. Using a mixed-methods approach, it reveals significant positive correlations between ESG scores, sustainability investments, and financial indicators (ROA, ROE, net profit). The findings underscore the role of accounting in integrating ESG data, enhancing transparency, and supporting strategic decisions. Companies with consistent non-financial reporting and stronger ESG engagement show superior profitability. This research contributes to the understanding of sustainable accounting as a driver of competitiveness in Romania’s evolving corporate governance landscape.

Suggested Citation

  • Florentina Moisescu, 2025. "Sustainability and Financial Performance: Exploring the Interconnections Through the Accounting Perspective in Romania," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 250-257.
    • Handle: RePEc:ddj:fseeai:y:2025:i:2:p:250-257
    DOI: https://doi.org/10.35219/eai15840409534
    as

    Download full text from publisher

    File URL: https://eia.feaa.ugal.ro/images/eia/2025_2/Moisescu.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.35219/eai15840409534?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. repec:eme:aaaj00:09513571011080144 is not listed on IDEAS
    2. Roger L. Burritt & Stefan Schaltegger, 2010. "Sustainability accounting and reporting: fad or trend?," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 23(7), pages 829-846, September.
    3. Thomas Dyllick & Kai Hockerts, 2002. "Beyond the business case for corporate sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 11(2), pages 130-141, March.
    4. Adams, Carol A. & Frost, Geoffrey R., 2008. "Integrating sustainability reporting into management practices," Accounting forum, Elsevier, vol. 32(4), pages 288-302.
    5. Roger L. Burritt & Stefan Schaltegger, 2010. "Sustainability accounting and reporting: fad or trend?," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 23(7), pages 829-846, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patrícia Quesado & Rui Silva & Helena Costa Oliveira, 2024. "Management Control Systems and Sustainability: A Bibliometric Analysis," Sustainability, MDPI, vol. 16(12), pages 1-19, June.
    2. Ouissal El Aziz & Abdelkarim Asdiou, 2025. "AI-powered analysis of ESG disclosure: a clustering approach to determinants and motivations," Future Business Journal, Springer, vol. 11(1), pages 1-20, December.
    3. Lueg, Rainer & Radlach, Ronny, 2016. "Managing sustainable development with management control systems: A literature review," European Management Journal, Elsevier, vol. 34(2), pages 158-171.
    4. Mara Del Baldo & Maria-Gabriella Baldarelli, 2017. "Renewing and improving the business model toward sustainability in theory and practice," International Journal of Corporate Social Responsibility, Springer, vol. 2(1), pages 1-13, December.
    5. Lamin B. Ceesay, 2020. "Exploring the Influence of NGOs in Corporate Sustainability Adoption: Institutional-Legitimacy Perspective," Jindal Journal of Business Research, , vol. 9(2), pages 135-147, December.
    6. Natalia Semenova, 2021. "Management control systems in response to social and environmental risk in large Nordic companies," International Journal of Corporate Social Responsibility, Springer, vol. 6(1), pages 1-11, December.
    7. Nurisyal Muhamad & Sofiah Md Auzair & Amizawati Mohd Amir & Md Daud Ismail, 2016. "Measuring Sustainability Performance Measurement System," EuroEconomica, Danubius University of Galati, issue 3(12), pages 182-199, JUNE.
    8. Matthew Egan, 2015. "Driving Water Management Change Where Economic Incentive is Limited," Journal of Business Ethics, Springer, vol. 132(1), pages 73-90, November.
    9. María Luisa Pajuelo Moreno & Teresa Duarte-Atoche, 2019. "Relationship between Sustainable Disclosure and Performance—An Extension of Ullmann’s Model," Sustainability, MDPI, vol. 11(16), pages 1-33, August.
    10. Quang Linh Huynh & Van Kha Nguyen, 2025. "Stakeholder Engagement in Digital Marketing and Environmental Management," Sustainability, MDPI, vol. 17(20), pages 1-24, October.
    11. Anselm Schneider, 2015. "Reflexivity in Sustainability Accounting and Management: Transcending the Economic Focus of Corporate Sustainability," Journal of Business Ethics, Springer, vol. 127(3), pages 525-536, March.
    12. Lena Klaaßen & Christian Lohmüller & Bjarne Steffen, 2024. "Assessing corporate climate action: Corporate climate policies and company-level emission reductions," PLOS Climate, Public Library of Science, vol. 3(11), pages 1-27, November.
    13. Rebekka Küchler & Birte Maja Nicolai & Christian Herzig, 2023. "Towards a sustainability management tool for food manufacturing small and medium‐sized enterprises—Insights from a Delphi study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 589-604, March.
    14. Pham Quang Huy & Vu Kien Phuc, 2025. "Insight into how Environmental Management Accounting Practices and Complexity of Green Innovation Management Pave the Way Toward Strategic Resilience," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(4), pages 14146-14179, October.
    15. Marjan ENTEKHABI, 2025. "Towards the Sustainable Organization: Challenges and Barriers to Sustainability Integration," Journal of Emerging Trends in Marketing and Management, The Bucharest University of Economic Studies, vol. 1(2), pages 77-91, June.
    16. Zarinah Abdul Rasit & Nadiah Abd Hamid & Sharina Tajul Urus, 2025. "Bridging Environmental Management Accounting and Climate Change: A Strategic Framework for Sustainable Business Operations in Malaysia," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(8), pages 2290-2302, August.
    17. Nurisyal Muhamad & Sofiah Md Auzair & Amizawati Mohd Amir & Md Daud Ismail, 2016. "Measuring Sustainability Performance Measurement System," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 12(3), pages 182-199, JUNE.
    18. Alessandra Buonasera & Guido Noto & Carlo Vermiglio, 2024. "Performance management systems for sustainability in SMEs: An interventionist approach," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2024(3), pages 39-59.
    19. Haitham Nobanee & Maryam Alhajjar & Ghada Abushairah & Safaa Al Harbi, 2021. "Reputational Risk and Sustainability: A Bibliometric Analysis of Relevant Literature," Risks, MDPI, vol. 9(7), pages 1-21, July.
    20. José M. Moneva & Sabina Scarpellini & Alfonso Aranda‐Usón & Igor Alvarez Etxeberria, 2023. "Sustainability reporting in view of the European sustainable finance taxonomy: Is the financial sector ready to disclose circular economy?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1336-1347, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ddj:fseeai:y:2025:i:2:p:250-257. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gianina Mihai (email available below). General contact details of provider: https://edirc.repec.org/data/fegalro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.