The present article reflects the role and importance of artificial intelligence in the accounting profession by defining the concept of artificial intelligence. The literature research brings to light the influence of these intelligent systems on the dynamics of the progress of accounting and accounting professionals. The purpose of the article is to illustrate the vision of professional accountants, these being the main actors provided in the application part of the work, regarding the implementation of new accounting tools that work with the help of digitization and technology. The research tool used is the questionnaire applied to professional accountants, exactly 100 employees, with different ages and professional experiences within companies, from several sectors of activity in the year 2025 and questions related to the perception of new technologies based on intelligent systems and how they foresee the following as they will intervene in accounting for their current jobs. Interviewed about the notion, but also the impact of artificial intelligence, which tends to be a positive one. Many of those interviewed answered favorably about the technology of accounting activities; there are also exceptions that consider this term as the main factor for which they will remain without jobs in the future.
This article investigates the pivotal role of the European Union’s Digital Operational Resilience Act (DORA) and Network and Information Security Directive 2 (NIS2) in bolstering cybersecurity resilience amid escalating threats to sensitive data in the digital economy. Employing a descriptive methodology, the study contextualizes the shift in cybersecurity discourse from questioning if to when an attack will occur, highlighting the urgency for proactive regulatory frameworks. It describes the scope of DORA, targeting financial entities such as banks and insurance firms and NIS2, which extends to essential and important sectors like transportation and manufacturing, offering a comparative analysis of their mandates. Key requirements—including governance, risk management, incident reporting within 24 hours (NIS2), and third-party oversight—are examined in detail, alongside enforcement mechanisms such as administrative fines, remedial orders, and operational restrictions. The analysis reveals non-compliance risks, substantial penalties and reputational damage, with small financial institutions particularly vulnerable to market exclusion. Furthermore, the study shows some practical solutions, such as the Emulex Secure Fibre Channel Host Bus Adapters, which encrypt data in transit to meet regulatory standards. Findings indicate that while compliance entails significant initial costs, the long-term benefits—data protection, operational continuity, and consumer trust—outweigh these investments. The article concludes by advocating for the strategic adoption of advanced cybersecurity technologies to align with DORA and NIS2, ensuring resilience against evolving threats like ransomware and quantum computing risks in the EU’s interconnected digital landscape.
This paper investigates the evolution of the Harmonized Consumer Price Index (HICP) in light of the evolution of the price of electricity and gas, given the economic shocks generated by the COVID-19 pandemic and the Russian aggression on Ukraine, in the European Union and Romania by deploying the Vector Autoregressive model. The results obtained, especially the ones from the variance decomposition and historical variance decomposition show that inflation was generally lower in the first year of pandemics and constantly increased in the second year, while a more significant contribution to inflation was found present since the start of the war in Ukraine relative to electricity and natural gas price. The overall results show that the electricity price has a greater contribution to the HICP evolution than the natural gas price and for Romania, it is found the HICP evolution is more dependent on the evolution of electricity price at the European Union level rather than the national one, whereas in relation to the natural gas price it is noticed that the national one is more relevant.
One of the major objectives of the EU is digitalization. The impact of digitalization is different from one sector to another and sometimes in contradiction with sustainability. Starting from these ideas, we started the research, reporting on three sectors: entrepreneurship-trade, agriculture and justice. After establishing the sectors, we took the necessary steps to obtain the database with the specific indicators. The impact of digitalization on sustainable development indicators in the three sectors represents the central objective of the research, the period to which we reported being 2013 – 2024. The digitalization and sustainable development indicators were extracted at the level of the 27 EU member countries, the statistical processing being carried out with the JASP and Eviews programs. The analysis of the results revealed a lack of correlation between digitalization and sustainability in the agricultural sector, a significant correlation between sustainable development and sustainability in the case of large economic entities within the entrepreneurial environment, and a significant direct correlation between digitalization and the indicators defining the health and justice sectors.
This research investigates the costs and benefits associated with the Employee Stock Option Plan (ESOP) as a non-salary benefit package aimed at motivating and retaining employees within financial institutions. The study highlights that while ESOPs incur direct costs, such as the purchase of shares and administrative expenses, they also present indirect costs related to employee performance and market fluctuations. The findings reveal that ESOPs not only serve as a financial incentive but also foster a sense of ownership among employees, enhancing their motivation and commitment to the organisation. This alignment of employee interests with company performance can lead to improved productivity and retention rates. Furthermore, the transparency and communication fostered by ESOPs contribute to a positive corporate culture, which is crucial for long-term sustainability. The research also identifies potential risks, including market volatility and the psychological costs associated with unsuccessful implementation and ineffective costs. The study emphasizes that while the costs of implementing an ESOP can be significant, the potential benefits, such as enhanced employee motivation, retention, and overall organisational performance, can outweigh these costs.
This study investigates how key financial variables—namely, the volume of new consumer credit, the level of interest rates, and government loan guarantees—influence household wealth accumulation in Romania. The research question guiding this study is: To what extent do credit dynamics, borrowing costs, and public financial interventions shape the structure and evolution of household wealth in an emerging economy? Based on annual data from 2010 to 2022 provided by the National Bank of Romania, the study employs multiple linear regression to test the impact of these factors on household net wealth, measured as the sum of financial and non-financial assets minus liabilities. The econometric model includes as explanatory variables the volume of new consumer loans, the effective annual interest rate, and government guarantees for both mortgage and business loans. The results show that household wealth is positively influenced by increased credit availability and government support for non-financial companies, while high interest rates significantly constrain wealth accumulation. The study contributes to the literature by quantifying these relationships in the context of a post-transition economy and highlights the need for targeted fiscal and monetary policies that ensure both access to affordable credit and macroeconomic stability. The findings have important policy implications for balancing short-term credit expansion with long-term financial resilience.
This study explores the key factors driving revenue growth in Romania’s gambling industry, focusing on the role of ERP systems, consumer spending on recreation and culture, and internet usage. Using regression analysis across three models and data from 2017 to 2023, the findings highlight the interplay between digital transformation, consumer behaviour, and technological adoption. ERP systems, while not showing a direct and significant impact in comprehensive models, demonstrate a positive and significant contribution when analysed independently, emphasising their potential to support revenue growth through enhanced operational efficiency and digital transformation. Consumer spending on recreation and culture emerged as a significant driver, reflecting broader socioeconomic trends and the increasing prioritisation of leisure activities in personal budgets. Similarly, the consistent growth in internet penetration underscores its critical role in expanding online platforms, driving digital engagement, and supporting the gambling sector’s evolution. Together, these findings emphasize the importance of technology, digital accessibility, and shifting consumer preferences in shaping the future of the gambling industry in Romania. This study contributes to the literature by providing nuanced insights into the sector’s dynamics and the interconnected drivers of growth in an increasingly digital economy.
The quality of financial auditing is a primary objective for both financial auditors and the users of companies financial statements. The objective of this research is to analyse the key factors that influence the quality of financial auditing, primarily from the auditor’s perspective. The purpose of the study is to provide a deeper understanding of the factors that determine audit quality by exploring how these factors affect audit outcomes, such as the type of opinion issued and the level of assurance provided, as well as the impact of auditor rotation on objectivity and the influence of audit firm size (Big 4 vs. non-Big 4) on audit quality. For the analysis, a sample of companies listed on the Bucharest Stock Exchange in both the main and secondary markets was selected. Information was extracted from the Audit Analytics database for the period 2016–2023. The results of this study confirm that Big4 auditors are generally more active on the main market, where a higher number of unmodified opinions are also recorded. The study also highlights the tendency of smaller firms or those on the secondary market to work with local auditors outside the Big 4 network. The key factors that influence the quality of financial auditing are multiple and interdependent, and understanding them is essential for improving practice in this field.
Migration has become one of the defining forces shaping the economic and social landscape of Europe. While much of the literature has concentrated on Western countries as primary destinations, the role of Central and Eastern Europe as both sending and increasingly receiving regions remains underexplored. This study investigates the impact of migration on economic development in four Eastern European countries—Romania, Bulgaria, Poland, and Hungary—over the period 2014–2023. Using panel data analysis, the research examines the relationship between net migration flows, GDP per capita, unemployment, employment rates, and population dynamics. The results indicate that migration plays a significant role in shaping labour market conditions and contributes to economic growth, particularly through its strong correlation with GDP per capita and employment rates. By applying a fixed-effects panel regression model, the study provides robust evidence on the bidirectional link between migration and economic performance. The findings highlight the structural transformations of these economies and underline the importance of migration in addressing demographic decline and labour shortages. This research contributes to the academic debate by offering updated empirical evidence and by filling the gap in the literature regarding the Eastern European migration-growth nexus.
In the context of accelerated globalization of the economy, companies are constantly applying methods of adaptation, development and diversification of operations. External growth through mergers and acquisitions, as a rapid way of expansion, is impacted by technological and regulatory developments. The paper aims to provide an overview of the impact of digital societies and constantly changing regulations on mergers and acquisitions. The impact is captured through multiple linear regressions with panel data collected from databases such as the World Bank Development Indicators, European Commission, and Eurostat Database, for developing countries in Central and Eastern Europe. The estimation of the coefficients was carried out using the Ordinary Least Squares method. The results showed a significant negative impact of the Digital Economy and Society Index on mergers and acquisitions. At the same time, an insignificant influence of the quality of government regulations is noted. Moreover, by delving deeper into the components of the Digital Economy and Society Index, we found a significant positive influence of Digital Technology Integration as well as a negative impact of Human Capital and Connectivity on mergers and acquisitions.
The paper outlines an investigation into the return on a share and factors that determine the financial performance of a share. An important indicator of joint stock companies is the return on a share. Information on return on a share reflects not only the relationship over the distribution of profit of the company, but also can be used to and for assessing the investment potential of the joint stock company. In the article, we will investigate and analyse more deeply the return on a share, which is of particular importance to a wide range of users in the decision-making process, as it provides information regarding both the efficiency of investments in shares, as well as strategies regarding the economic performance and financial position of the joint stock company. Through this paper, I aimed to carry out a detailed analysis of the determinants of the return on a share. The analytical form of the relations between the return on an ordinary share and the causes of modification is presented in the factorial system recommended by the author. The recommended factorial system shows that the return on an ordinary share depends first of all on the return on ordinary share capital and, secondly, on the correlation coefficient between the book value and the market price of an ordinary share. Results of the causal analysis of the return on an ordinary share, according to the recommended factorial system, are of real interest and can be applied in the decision-making process in the following situations: when making decisions regarding the purchase, holding or sale of ordinary shares; to supervise the activity of the joint stock company to protect the shareholders’ interests; to substantiate the conditions of additional issue of shares and the preparation of the public offer prospectus.
In the fight against climate change, the focus is often put on energy sources and how they are used, although the fight to achieve climate neutrality must be fought on several fronts, given the complexity of the challenge. Thus, according to the literature, innovation, green technologies, sustainable financing and, by extension, the adoption by individuals of more sustainable lifestyles play an important role. Based on this premise, our study aims to highlight the influence of two important variables, namely innovation (using R&D expenditure as a proxy) and governance, on a sample of the 20 most innovative countries over the period 2010-2023, using the OLS model. The empirical results underline the need for public authorities to step up their efforts by developing and implementing more ambitious public policies. These should include additional measures to stimulate technological innovation, financial support for green projects and raising public awareness. At the same time, international collaboration and research investments need to be expanded to accelerate the transition to climate neutrality.
This study analyzes and presents the perceptions of young specialists in taxation regarding the underground economy and the role of digitalization in reducing it. For this purpose, a survey was conducted among students of the Master’s program in Taxation at the Bucharest University of Economic Studies, with a total of 43 responses. The results show that a large proportion of students define the underground economy as „undeclared work,” „tax evasion,” or „undeclared economic activities”. The most frequent reasons identified by students for the existence of the underground economy are high taxes, corruption, and complex regulations. Furthermore, they argue that the most effective method to educate citizens about the impact of the underground economy is formal education in schools and universities. When asked if they would report a person involved in the underground economy, more than half of the respondents answered affirmatively. Regarding the role of digitalization, students expressed openness to using digital payments and using as little cash as possible. In addition, their opinion is that the percentage of the underground economy will significantly decrease in the context of a future with initiatives to digitalize the financial system. Therefore, analyzing students’ perceptions of these aspects is not only relevant from an academic point of view but also crucial for formulating effective public policies to support a more open and transparent economy.
This study examines the psychological determinants influencing financial decision-making within Small and Medium Enterprises (SMEs), focusing on cognitive biases and risk perception. Drawing from an interdisciplinary framework that integrates economic theory with cognitive psychology, the research aims to elucidate how biases—such as overconfidence, loss aversion, and anchoring—shape financial decisions in entrepreneurial settings. Utilising a mixed-methods approach, including a survey of 350 SME owners and managers, and advanced statistical techniques such as structural equation modelling (SEM), this study empirically investigates the impact of psychological factors on financial behaviours such as investment choices, risk management, and capital structure decisions. The findings suggest that cognitive biases significantly skew financial decision-making, often leading to suboptimal choices that undermine long-term financial stability. Furthermore, the perception of risk, influenced by both personal experience and heuristic processing, is found to be a critical determinant in shaping SMEs’ approaches to financial uncertainty. This paper contributes to the extant literature by offering a nuanced understanding of the psychological underpinnings of financial decisions in SMEs, with significant implications for both academic research and practical interventions aimed at improving financial decision-making in the SME sector. Implications for policy design and financial education programs are discussed, advocating for tailored interventions that address the cognitive biases and distorted risk perceptions prevalent in entrepreneurial finance.
Using the Chi-square test, this paper seeks to investigate the influence of demographic factors on the electronic word of mouth (e-WOM) among 182 Algerian e-shoppers. An online survey was conducted between July 20th, 2023 and January 25th, 2024. The factors examined in this study are namely: gender, age ranges, academic level and marital status. The findings reveal that the independence between these factors and electronic word of mouth is confirmed. The current study suggests paying more attention to the less frequent variables (i.e. Men; generations X & Z, married e-shoppers, and undergraduate participants). Moreover, it is welcomed to launch a face-to-face survey as a tool to increase the significance of the current research.
The provision and use of energy at the national level have implications for national economic prosperity, energy security, and international relations. It is widely accepted that in a world with limited resources, there is an urgent need to reduce and even halt carbon emissions. In this context, the development and adaptation of the energy sector to new realities become relevant for the global economy. This paper aims to emphasize the importance and timeliness of the topic by conducting a literature review using a bibliometric approach. Utilizing such a method is vital for understanding the significance of the researched theme and for quantifying the level of existing research on renewable energy to date. By conducting this research, gaps and developments can be highlighted, and new approaches can be identified that have either not yet been addressed or can be further explored. Thus, through bibliometric analysis, the relevance of the topic is substantiated, and new research directions can be outlined. The practical implications of this paper are represented by highlighting the importance of the topic and identifying gaps in interstate academic cooperation, which, if addressed, could lead to improvements in the quality of research in the field.
The overlapping crises of recent years have highlighted a new dimension in the evaluation of an organization, namely its ability to adapt and survive in crisis situations, a concept defined as organizational resilience. The purpose of this research is to highlight the current state of research, as well as emerging trends and directions in research on organizational resilience. The research methodology consists of conducting a bibliometric analysis of scientific publications in the Web of Science database from 1996 to 2025. The bibliometric analysis was performed using Bibliometrix and VOSviewer software. The results of the research highlight that future research should develop predictive models and quantitative tools capable of anticipating and measuring organizational resilience in volatile contexts. At the same time, it emphasizes the need to integrate resilience into governance strategies, explore the relationship with sustainability and organizational ethics, and adapt to emerging risks generated by digitization, climate change, and geopolitical changes. The research adds value to the scientific literature by highlighting future research directions in the analysis of organizational resilience in various economic contexts.
This article explores the influence of financial and accounting education on the ability of small and medium-sized enterprises (SMEs) to adopt sustainable strategies. Financial literacy is becoming an essential competence for SMEs, especially in the context of current economic challenges, requiring the transition to a green economy and facing increased regulatory pressures (such as the European Green Deal and the Corporate Sustainability Reporting Directive – CSRD). The research aims to answer two fundamental questions: (1) To what extent does financial and accounting education influence the integration of sustainability into SME strategies? and (2) What are the main research directions on the connection between financial literacy and sustainable performance in SMEs, according to the scientific literature from 2019–2024? To answer these questions, a bibliometric analysis of 345 relevant articles from the Web of Science database was conducted using the VOSviewer tool. The results highlighted the existence of significant clusters of terms linking the concepts of sustainability, financial performance and financial education. An emerging correlation was also identified between financial-accounting education and the ability of SMEs to access green financing, report according to ESG standards and adopt responsible business models. The research findings highlight the importance of developing educational policies and public initiatives tailored to the needs of SMEs, especially in regions with low levels of financial literacy. The paper provides a relevant theoretical contribution to the sustainability literature and opens new directions for applied research on financial resilience and sustainability integration in the SME sector.
In the context of economic, social and technological transformations in recent years, the purchasing habits of Romanian consumers have undergone significant changes. This study analyses consumer purchasing behaviour in relation to the monthly basket, investigating the influence of factors such as inflation, digitalization, globalization and recent crises. The research focuses on families with two children in the urban area of Dâmbovița County, providing a regional perspective on these trends. The methodology used includes the opinion poll conducted through face-to-face and online surveys, based on a structured questionnaire. The sample, consisting of 120 families, was selected by a simple random method, ensuring representativeness for the target group. The period and context of data collection allow for an in-depth analysis of how earnings and resources influence purchasing decisions. The study results provide relevant information about the behavioural adaptations of Romanian consumers in the face of current challenges.
In this paper, we explore work-life balance as an integral part of career management, focusing on how professional careers are developed and managed throughout working life. We examine strategies and actions designed to help employees achieve their professional goals, develop their skills and realise their potential. The study investigates the impact of work-life balance policies on employees, their productivity, business relationships, and overall company performance. These results are influenced by the policies set by senior management, which highlight the importance of awareness and implementation of these policies in achieving a work-life balance. Using a qualitative research approach, based on interviews with managerial decision-makers from 38 small and medium-sized enterprises, this article presents the influence of organizational policies on career management and work-life balance.
