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In the context of the globalization and internationalization of economies, to efficiently attract financial and intellectual capital that is necessary for business sustainability, the mechanisms of corporate governance have to be based on gaining the trust of all the interested parties. These objectives require an organizational culture and a climate which is based on correctness, responsibility, transparency, and efficiency, in which ethical principles govern the spread of behaviors in the entire entity. This research identifies the relation between the corporate governance and the entities’ financial performance using the specific context of Romania. The findings of this study reveal new insights on the corporate governance and financial performance based on a sample of companies listed on the Bucharest Stock Exchange. The results show a positive correlation between the net accounting results, earnings per share, and the duality of the CEO, and a negative correlation between price per share and the duality of the CEO.

The role of research and development (R&D) in economic growth has been intensively promoted by scholars and policy-makers of the last decades, emphasizing its impact on technological innovation, intensive and sustainable growth and economic revival. The R&D sector is considered a main driver in the fight against chronic underdevelopment, regional disparities, isolation and lack of socio-economic perspectives. Although the steady economic growth of Romania in the last 15 years continues to converge with the European Union’s average, the regional disparities persisted and even deepened, the country still being considered a modest innovator, and resources allocated to research and innovation are far below the European level. In this paper, we aim to identify the existence, direction and duration of the relationship between economic growth, expenditure and employment in the R&D sector. We applied the Johansen cointegration test, the VECM model and Granger causality both at the county and component region levels during the 1995–2021 period. The results of our research reveal the consistency of these bidirectional relationships at the regional and sub-regional levels, especially in the long run. We also emphasize the importance of economic growth in supporting public and private efforts for R&D: the regions that can allocate more resources to research, development and innovation (RD&I) will benefit from the more reliable and long-run-oriented economic growth.

The aim of this paper is to evaluate some villages in the mountain area of Sibiu County, Romania, as “smart” tourist villages. The research was carried out in two stages: Stage 1 was collection of information on (a) food products registered in different national and international quality schemes and (b) the number of tourist structures by type, comfort category, and accommodation capacity. Stage 2 was a case study conducted among 32 rural tourism entrepreneurs from 3 villages in Mărginimea Sibiului, using a questionnaire with 22 items on the criteria for evaluation of “smart” villages. The answers were systematized, statistically processed, and interpreted. The main results are as follows: (a) Concerning products, producers, and gastronomic points (PGL) registered, there are 9 products in the quality scheme “mountain product”, 10 producers on the platform “Gusturisibiene”, 1 producer of “telemea de Sibiu”, a registered product with protected geographical indication, and 2 PGL. (b) The number of officially registered tourist structures is 93, of which 72% are agritourism guesthouses. (c) The results for the evaluation of villages as “smart” are that 78.2% of locals use the internet, 74% own at least one smart device, 60.16% of energy used is renewable. There are low values of water and air pollution; there are local job and business opportunities (93.75%); future local development activities will target agriculture with all its sectors and agritourism; public administrations have implemented 7 types of activities to increase the attractiveness of localities; and quality of life, services, and social life aspects are perceived to be at high standards.

The present study aims to demonstrate the significance of religious tourism and its impact on both the economy and socio-culture. Religious tourism provides a sacred and spiritual environment that has the potential to shape the motivational state of individuals searching for cultural and religious landmarks and destinations to support their spiritual well-being. Hence, it is imperative to maintain close relationships between religion, culture, and tourism as they play a crucial role in promoting spirituality and human development, particularly in the context of globalization and sustainable economic development. In the latter part of the paper, research was conducted to formulate strategies aimed at the development of religious tourism in the northeast region of Romania, which is an economically underprivileged area with significant untapped tourist potential. The findings suggest that via improvements in infrastructure, the creation of a favorable business environment, enhanced promotion, development of accommodation facilities, and improvement in services, the area can achieve a higher quality of life and sustainable development.

Walkability has become a research topic of great concern for preserving public health, especially in the era of the COVID-19 outbreak. Today more than ever, urban and transport policies, constrained by social distancing measures and travel restrictions, must be conceptualized and implemented with a particular emphasis on sustainable walkability. Most of the walkability models apply observation and subjective methods to measure walkability, whereas few studies address walkability based on sense perception. To fill this gap, we aim at investigating the perceived neighbourhood walkability (PNW) based on sense perception in a neighbourhood of Brussels. We designed a survey that integrates 22 items grouped into 5 dimensions (cleanness, visual aesthetics, landscape and nature, feeling of pressure, feeling of safety), as well as the socio-demographic attributes of the participants. Using various statistical methods, we show that socio-demographics have almost no effects on perceived neighbourhood walkability. Nonetheless, we found significant differences between groups of different educational backgrounds. Furthermore, using a binomial regression model, we found strong associations between PNW and at least one item from each grouping dimension. Finally, we show that based on a deep neural network for classification, the items have good predictive capabilities (78% of classification accuracy). These findings can help integrate sense perception into objective measurement methods of walkable environments. Additionally, policy recommendations should be targeted based on differences of perception across socio-demographic groups.

Closed-loop supply chain networks are gaining research popularity due to environmental, economic and social concerns. Such networks are primarily designed to overcome carbon footprints and to retrieve end of life products from customers. This study considers a multi echelon closed-loop supply chain in the presence of machine disruption. A multi-objective model is presented to optimize the total cost, the total time and emissions in a closed-loop supply chain network. The aim is to analyze the trade-off between the objectives of cost, time, and emissions and how these decisions are impacted by the selection of different available machines. A number of solution approaches are tested on a case study from the tire industry. The results suggest the improved performance of the hybrid heuristic and the importance of controlling disruption in a closed-loop supply chain network. Furthermore, there is a trade-off between the different objective functions which can help the decision maker to choose a particular solution according to the preference of an organization. Finally, conclusion and future research avenues are provided.

Nowadays, companies are in the process of renewing their manufacturing lines by equipping them with modern five-axis CNC (computer numerical control) machining centers. The decision to select between different five-axis CNC machining centers, with similar technological capabilities is a difficult process, so the main goal of this work was to develop a method for assisting it. The proposed approach relies on seven technical criteria, four quantitative ones (traverse speed, thrust, spindle power, and spindle speed) which can be expressed by crisp numerical values, while the other three (flexibility, operation easiness, and setup time) are qualitative ones. The analytic hierarchy process (AHP) was used for ordering four variants of five-axis CNC milling machining centers. The qualitative criteria were processed using fuzzy systems to be expressed by crisp numerical values, suitable for AHP. Finally, the four variants of five-axis CNC milling machining centers were hierarchized and the best one was chosen. A sensitivity analysis was also unfolded to certify the robustness of the AHP.

The aim of this study was to determine whether emotional labor behavior has an effect on job satisfaction, and if there is an effect, to reveal whether communicative rational action has a moderator effect. This research was carried out in the banking sector. The sample group consisted of administrators of foreign capital bank managers (427) at all levels in Turkey. The collected data were analyzed with the IBM SPSS 21 program. Multiple regression analysis and SPSS PROCESS v3.5 (model1) methods were used in the analysis. According to the analysis, the three sub-dimensions of communicative rational action (practical-rational action, rational communication, and rational action) have a moderator role in the effect of emotional labor and job satisfaction. The other two sub dimensions (value–rational–action and firm family) do not have a moderator role in this effect. In the analysis made according to the total score of communicative rational action, the moderator role of communicative rational action in the effect of emotional labor and job satisfaction was determined. As a result of the research and analysis, it was determined that emotional labor has a positive effect on the phenomenon of job satisfaction.