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Convergent Insights for Sustainable Development and Ethical Cohesion: An Empirical Study on Corporate Governance in Romanian Public Entities

Author

Listed:
  • Ionela Munteanu

    (Accounting Department, Bucharest University of Economic Studies, 1 Tache Ionescu street, 010352 Bucharest, Romania)

  • Adriana Grigorescu

    (Public Management Department, National University of Political Studies and Public Administration, 30A Expozitiei Boulevard, 012104 Bucharest, Romania)

  • Elena Condrea

    (Faculty of Economic Studies, Ovidius University of Constanta, Aleea Universitatii no.1, 900470 Constanta, Romania)

  • Elena Pelinescu

    (Institute for Economic Forecasting, Romanian Academy, Calea 13 Septembrie No.13, 050711 Bucharest, Romania)

Abstract

The global financial crisis was decisive in reanalyzing the role of corporate governance based on the accountability and ethics of governance practices and its impact on sustainable development. The study aims to analyze the relevance of and the interdependencies between financial governance assessment indicators and income efficiency with synergetic effects on sustainable development and social cohesion, offering a distinct contemplation on errors in governance and financial reporting. Deviations concerning the accuracy of financial statements, flaws in the process of budget creation and budgetary execution, poor implementation of internal control systems, non-compliance with procedures of public procurement contracts, and ineffectiveness in sound financial management represent barometers for assessing managerial accountability in the public sector. This study is based on data reported by the Romanian Court of Accounts processed with the principal component analysis and proposes a global efficiency index as a benchmark indicator barometer in order to analyze the influence of managerial accountability and sustainable reporting compliance on revenue reported by public institutions in Romania. The results of the study are of empirical importance and explore the constant need to evaluate managerial accountability and ethics, with an emphasis on error, in order to improve public governance and enhance corporate accountability.

Suggested Citation

  • Ionela Munteanu & Adriana Grigorescu & Elena Condrea & Elena Pelinescu, 2020. "Convergent Insights for Sustainable Development and Ethical Cohesion: An Empirical Study on Corporate Governance in Romanian Public Entities," Sustainability, MDPI, vol. 12(7), pages 1-17, April.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:7:p:2990-:d:343053
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    Cited by:

    1. Wei Wang & Ziyuan Sun & Weixing Zhu & Lin Ma & Yuting Dong & Xiao Sun & Fengzhi Wu, 2023. "How does multi‐agent govern corporate greenwashing? A stakeholder engagement perspective from “common” to “collaborative” governance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 291-307, January.
    2. Denisa-Atena Costovici (Mema), 2020. "Ethics in the Proliferation of Military Industry," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 30, pages 295-304, Editura Lumen.
    3. Ionica Oncioiu & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu & Delia-Mioara Popescu & Elena Anghel, 2020. "Corporate Sustainability Reporting and Financial Performance," Sustainability, MDPI, vol. 12(10), pages 1-13, May.
    4. Mirela Panait & Irina Radulescu & Alina Brezoi, 2020. "Financial Markets – Under the Sign of CSR. Some Evidences Regarding Financial Education," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 11, pages 96-106, Editura Lumen.
    5. Adriana Grigorescu & Oana Oprisan & Cristina Lincaru & Camelia Speranta Pirciog, 2023. "E-Banking Convergence and the Adopter’s Behavior Changing Across EU Countries," SAGE Open, , vol. 13(4), pages 21582440231, December.
    6. Simona Andreea Apostu & Mirela Panait & Daniel Balsalobre-Lorente & Diogo Ferraz & Irina Gabriela Rădulescu, 2022. "Energy Transition in Non-Euro Countries from Central and Eastern Europe: Evidence from Panel Vector Error Correction Model," Energies, MDPI, vol. 15(23), pages 1-21, December.
    7. Kamer-Ainur Aivaz, 2020. "Considerations on Asset Management and Turnover Factorial Correlations: The Case of Dobrogea Region, Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 68-74, December.

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