Determinants of Sustainable Performance and Convergence with EU Agenda 2030: The Case of Romanian Forest Enterprises
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Department of Accounting, Audit and Finance, Stefan cel Mare University, Suceava, Romania
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
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.