Social Investment, Economic Growth and Labor Market Performance: Case Study—Romania

Ştefănescu-Mihăilă, Ramona O.

doi:10.3390/su7032961

Cited by 24 publications

(25 citation statements)

References 10 publications

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“…It was calculated for each company in the sample by dividing company's annual earnings by its total assets. ROA is also referred to us as "return on investment" and it is used in the model as a proxi variable for economic performance [34]. "Quality of the product" is a non-financial operational performance measure and is part of the internal activities of a company.…”

Section: Methodsmentioning

confidence: 99%

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

Bușu

Nedelcu

2017

Sustainability

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Abstract:In this paper, we focus on the sustainability and economic performance of the renewable energy sector of Romania. In our analysis, we have used Total Quality Management (TQM) model, which is an economic modern tool used for improving the quality of management for all companies. The aim of this study is to bring into discussion the conceptualized TQM model of Edward Deming underlying different stages of its evolution as it is described in the economic literature. Conceptual model is applied in a case study of the renewable energy sector of Romania. The quantitative research evaluates the impact of the total quality management to achieve the sustainable development, performance objectives and the competitive advantage of the companies in the renewable energy sector. Data was collected through a survey and the questionnaire was addressed to the management and employees in the renewable energy sector. Structural equation modelling (SEM) was used and the hypotheses were tested by partial least square (PLS) equations. Data was analyzed through the Smart PLS 3 software. The main contribution of this paper is to identify and evaluate the relationship among sustainable development, economic performance of the companies and TQM model indicators. The conclusions of our research are in line with the existing literature and confirm the theoretical assumptions, underlining the fact that the undertaking's performance and sustainable development is a direct consequence of the combination among a series of factors like decisional power quality, motivated workforce as well as integrity of operational process.

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Section: Methodsmentioning

confidence: 99%

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

Bușu

Nedelcu

2017

Sustainability

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“…The latter describes the shock resistance and long-term functionality of an economic system, which influences its stability [42,45,49], whereas the former orientates more on the classical economic growth paradigm generating a macroeconomic value added, which affects wealth and prosperity [32,43,54]. Of course the list of possible and suitable endpoint categories is not necessarily limited to the two presented here.…”

Section: Impact Pathway Definitionmentioning

confidence: 99%

“…The aspect of human resources may also play an important role in contradicting the pure profit view. Some authors [42,43] state that growth, mostly measured in terms of GDP, cannot be the only goal or factor within economic assessments.…”

Section: Economic Aspects Within the Life Cycle Sustainability Assessmentioning

confidence: 99%

“…Within this study we have identified as relevant: Profitability, understood as microeconomic value added [21]; Productivity, understood as output in connection with employee participation and human development [58]; Consumer satisfaction, representing a product's utility from a consumer perspective [59]; Business diversity, understood as region-specific corporate diversity [49]; and Long-term investments, determining the long-run success and survival in the market [43] and including dependencies on different types of capital [60]. Microeconomic aspects like profitability, productivity, consumer satisfaction, and long-term investments have earlier been addressed within the Oxfam Poverty Footprint [61].…”

Section: Economic Resiliencementioning

confidence: 99%

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From Life Cycle Costing to Economic Life Cycle Assessment—Introducing an Economic Impact Pathway

2016

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Economic activities play a key role in human societies by providing goods and services through production, distribution, and exchange. At the same time, economic activities through common focus on short-term profitability may cause global crisis at all levels. The inclusion of three dimensions-environment, economy, and society-when measuring progress towards sustainable development has accordingly reached consensus. In this context, the Life cycle sustainability assessment (LCSA) framework has been developed for assessing the sustainability performance of products through Life cycle assessment (LCA), Life cycle costing (LCC), and Social life cycle assessment (SLCA). Yet, the focus of common economic assessments, by means of LCC, is still on financial costs. However, as economic activities may have a wide range of positive and negative consequences, it seems particularly important to extend the scope of economic assessments. Foremost, as the limitation to monetary values triggers inconsistent implementation practice. Further aspects like missing assessment targets, uncertainty, common goods, or even missing ownership remain unconsidered. Therefore, we propose economic life cycle assessment (EcLCA) for representing the economic pillar within the LCSA framework, following the requirements of ISO 14044, and introducing an economic impact pathway including midpoint and endpoint categories towards defined areas of protection (AoPs). We identify important target ratios by means of economic AoPs, which drive economic activities on the macro-and microeconomic level. Furthermore, we provide suggestions for midpoint and endpoint indicators representing the defined categories. With the presented EcLCA framework, a first step towards the inclusion of economic impacts within LCSA has been made. Relations between economic activities and resulting consequences are displayed, going beyond the cost-driven view of classical LCC. Further research and fine-tuning of the identified midpoint and endpoint categories and related indicators is, however, needed to enable a valid and consistent assessment basis for fostering the practical implementation of EcLCA and LCSA.

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“…This last factor also leads to closing schools and municipal hospitals, further reducing the quality of life in the rural areas. The rural areas are thus gradually losing their socio-economic development potential, as in place for many generations [31].…”

Section: Economic Development and Community Policies Of Rural Developmentioning

confidence: 99%

Rural Economy and Bioethanol Production

Ştefănescu-Mihăilă

2016

Sustainability

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Biofuels are considered part of the potential sources of mitigation for the serious threat of global warming, by reducing human reliance on oil imported from unsafe sources at ever increasing costs. For the classic fuel supplier countries, biofuels are a source for the future, as local materials are used in their production. They generate jobs for the local population and do not require the importation of costly equipment and relevant expertise. A pioneer in the use of biofuels, Brazil has eliminated all oil imports and become energy independent. Recognising the positive effects of biofuel use, the EU and other countries are rapidly developing potential sources of their own biofuels. One of these sources could be agricultural cultures that are able to be developed under optimum conditions by endorsing and using modern and sustainable means and techniques in the rural economy. The sustainable use of the resources and the maintenance of the ecosystems in a good working order claims both the protection of the environment itself and the success of the farmers via the provision of fertility and productivity of the agricultural ecosystems, which will give them the leverage of competitiveness on the market and food safety in the long term. The paper herein intends to point out at a sustainable manner of having the economy's engine function-i.e., agriculture-by means of advocating for the efficient use of the resources within the farms and their associations, along with the support for the transition to a low-carbon economy, thanks to the progress in the bioethanol production.

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Social Investment, Economic Growth and Labor Market Performance: Case Study—Romania

Cited by 24 publications

References 10 publications

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

From Life Cycle Costing to Economic Life Cycle Assessment—Introducing an Economic Impact Pathway

Rural Economy and Bioethanol Production

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