This article aimed to analyse the influence of the main factors on management control used in optimization activities, in order to reach the strategic goals of a company. Agency, transactional costs and contingency theories have been analysed from the traditional perspective. This study reviewed resource-based, institutional, planned behaviour and upper echelon theories, and underlined the main features of management control processes. Empirical evaluation was conducted using data collected from interviews of top management of the main and secondary segments of the Bucharest Stock Exchange. Consequently, we showed the specific features of the systemic approach to management control by means of its determining factors: control environment, management strategies and budgetary system, operational control and the performance appraisal system.

This study investigates management control from the perspective of intention of companies to engage into sustainable development. The authors mainly focused on analysing the relations between sustainable management control and the system of performance appraisal utilising resource-based theory. The theory behind these relations has been studied by reviewing the literature in the field, and the empirical investigation used questionnaire-based data, presenting the responses of top management, and the data available in the Annual Reports on the main segment of Bucharest Stock Exchange. The study proves that financial performance has a significant influence on management control therefore the authors recommend the return on capital employed as one of the most recommended indicators. The sustainable nature of management control is the result of the spread and development of the institutional theory, the provisions of Directive 2014/95/EU and the Guide of Global Management Accounting Principles (2015) using stewardship. Consequently, profits could no longer be the main element in the assessment of company"s financial "health". Therefore, sustainable balanced scorecard is one of solid measures for managing financial and non-financial performance in the process of achieving sustainable success.

This paper analyzes the transparency of reporting in e-commerce companies, which has a high impact on decision making. Stakeholders make sure that companies are as transparent as possible in their actions, and the information disclosed in annual reports is very credible. In this context, the highly asked for information refers to the structure of corporate governance, the activity of committees set by the board of directors, managerial strategies, human resource and sustainability policies, risks, financial reporting, financial and non-financial performance, etc. To test and validate the results of our research, we identified the 31 most efficient global e-commerce companies. For this purpose, 31 annual corporate reports were analyzed for 2019 and 2020 by extracting several independent variables: corporate governance, human resource policies, sustainable development, performance, risks and financial reporting. The results of the analysis were validated by using SmartPLS (v. 3.3.3) software.