ORIGINAL RESEARCH
Determinants of Sustainable Performance
and Convergence with EU Agenda 2030:
The Case of Romanian Forest Enterprises
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1
Department of Accounting, Audit and Finance, Stefan cel Mare University, Suceava, Romania
2
Department of Management, Business Administration and Tourism, Stefan cel Mare University, Suceava, Romania
Submission date: 2019-05-22
Final revision date: 2019-07-09
Acceptance date: 2019-07-16
Online publication date: 2020-03-02
Publication date: 2020-03-31
Corresponding author
Cristina Gabriela Cosmulese
Accounting, Audit and Finance, Stefan cel Mare University of Suceava, Universitatii, no 13,, 720229, Suceava, Romania
Pol. J. Environ. Stud. 2020;29(3):2339-2353
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ABSTRACT
The aim of this paper is focused on analyzing the financial performance indicators of enterprises
operating in the fields of forestry and forestry exploitation in northeastern Romania, and their effects on
sustainable development in view of the priorities established in the EU, with the adoption by the Member
States of the Agenda 2030. In this respect, the most important 200 enterprises in northeastern Romania
were selected, and the main performance indicators registered during 2009-2017 were analyzed, and
a statistical model in which the balance indicators are correlated with the financial ratios being developed
in the sense of assessing the financial or commercial sustainability of enterprises with which to assess
the qualitative parameters of sustainable development. Results show that the entities that operate
in the field of forestry exploitation, which have an over-average turnover, are more concerned with
the acceleration of the rotational speed of the circulating assets with direct favorable effects on
performance indicators (benefit and rate of return), but with negative effects on the decrease of the forest
fund through its administration policies, which may conflict with article No. 14 of the 2030 Agenda.
This paper has an innovative character, assessing the pillar of business activities within sustainable
development in objective terms of sustainability.