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Correlations Between Financial Indicators Of Companies And Sustainable Development Indicators

Author

Listed:
  • Ioana Crăciun (Timofei)

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Romania)

  • Diana Sabău-Popa

    (Faculty of Economic Sciences, University of Oradea, Romania)

  • Réka Lakatos-Fodor

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Romania)

Abstract

One of the main objectives of sustainable development is to improve living standards and obtain a friendlier business environment, by increasing their competitiveness and performance and the main goal of companies are to achieve a productive activity that ensures their short-term success, but also to pay attention to long-term survival. This analysis was performed to assess the influence of financial indicators of companies and their contribution on the sustainable development of the North-West region of Romania. The research follows the evolution of sustainable development and financial indicators of the sample of 37 companies listed on the BSE, with data collected from 2008-2019, covering the following sectors according to their BSE classification: manufacturing, trade, hotels, construction. In this paper is used both qualitative and quantitative research methods. Among the qualitative research methods used it can be mentioned: observation, comparison and analysis of data. The econometric analysis is based on the estimation of a panel data regression technique and the decision between the random effects model and the fixed effects model was based on the Hausman test. The microeconomic indicators used to analyse the connection with the indicators of sustainable development of the North-West region of Romania are turnover, net profit and the average number of employees used as independent variables and the indicators selected based on information provided by the National Institute of Statistics for the North-West region, called Territorial Sustainable Development Indicators, are the following: Regional Gross Domestic Product, GDP per inhabitant, economically active population, the employment rate of the working age population, the job vacancy rate and the unemployment rate used as dependent variables. The results of the correlation analysis of the parameters showed a weak, insignificant influence between the financial indicators and the sustainable development indicators, the observed data do not allow the identification of a valid linear model.

Suggested Citation

  • Ioana Crăciun (Timofei) & Diana Sabău-Popa & Réka Lakatos-Fodor, 2021. "Correlations Between Financial Indicators Of Companies And Sustainable Development Indicators," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 195-202, July.
    • Handle: RePEc:ora:journl:v:1:y:2021:i:1:p:195-202
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    References listed on IDEAS

    as
    1. Olena Zvarych, 2017. "Evaluation Of Small Business Influence On The Economic Development Of The Region," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 3(5).
    2. Constantin ANGHELACHE & Alexandru MANOLE & Mădălina-Gabriela ANGHEL, 2017. "Macroeconomic models used in structural analysis of GDP," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 197-206, Spring.
    3. Constantin ANGHELACHE & Gabriela Victoria ANGHELACHE, 2013. "Macroeconomic Models Used In The Structural Analysis Of The Gross Domestic Product," Romanian Statistical Review, Romanian Statistical Review, vol. 61(6), pages 15-21, July.
    4. Constantin ANGHELACHE & Alexandru MANOLE & Mădălina-Gabriela ANGHEL, 2017. "Macroeconomic models used in structural analysis of GDP," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 197-206, Spring.
    5. Thi Thu Hien Phan & Hiep Xuan Tran & Trung Thanh Le & Ninh Nguyen & Simon Pervan & Manh Dung Tran, 2020. "The Relationship between Sustainable Development Practices and Financial Performance: A Case Study of Textile Firms in Vietnam," Sustainability, MDPI, vol. 12(15), pages 1-20, July.
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    More about this item

    Keywords

    indicators; panel data; GDP; turnover; employment;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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