Marius Boiță

Although Smart City transitions are typically assessed using technological and financial indicators, the underlying structural correlates remain insufficiently explored. This study examines how different forms of capital within the Quintuple Helix model—natural, social, intellectual, economic and institutional (governance)—are associated with a country’s position in the Global Smart Cities Index and the Eco-Innovation Index. The methodology is based on data from 26 EU Member States. Correlation analysis was used to identify key factors of city performance, cluster analysis was applied to categorize countries/capitals based on their capital profiles and the impact of Smart Cities and eco-innovation. This study identifies three distinct clusters of EU countries/capitals, ranging from leaders to economies in transition. The results show that intellectual capital and institutional governance are the most significant correlates of Smart City success. In addition, governance emerged as a primary association of eco-innovation. These results provide a roadmap for lagging regions to optimize their Quintuple Helix synergies to achieve higher smart city rankings and environmental sustainability.

Tax administrations are undergoing rapid digitalisation, while sustainability requirements are increasingly embedded in corporate governance frameworks. These parallel transformations are raising new expectations for transfer pricing (TP) documentation, which must be accurate, transparent, and audit-ready. This paper investigates the extent to which artificial intelligence (AI)—specifically natural language processing (NLP), robotic process automation (RPA), and machine-learning techniques—can support a sustainability-oriented governance framework for TP documentation in multinational enterprises. Using a longitudinal case study of the OMEGA Group, operating across 21 jurisdictions, we analyse an AI-enabled documentation architecture that streamlines data extraction, enhances comparability analysis, and strengthens audit preparedness, in line with the OECD Transfer Pricing Guidelines and relevant European Union regulatory requirements. The empirical evidence indicates substantial improvements in documentation efficiency (−68.3%), a significant reduction in processing errors (−81.5%), and higher audit acceptance rates (+27%). Beyond compliance, AI-driven digital workflows contribute to sustainability objectives by reducing resource consumption, improving data traceability, and facilitating alignment with CSRD-related reporting requirements. Overall, the findings demonstrate that AI-enabled TP documentation can evolve into a strategic pillar of sustainable tax governance, provided that its outputs remain explainable, auditable, and grounded in professional judgment. The study proposes an integrated governance framework that connects digital transformation, regulatory compliance, and sustainability within contemporary TP management practices.

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This paper analyses how sustainability accounting and ESG disclosure contribute to financial stability in three major Romanian energy companies: OMV Petrom, Hidroelectrica and Transgaz. Drawing on a qualitative content analysis of annual and sustainability reports for 2020–2024, supported by selected regulatory and market information, the study examines how ESG indicators are defined, measured and connected to profitability, leverage and cash-flow resilience during overlapping crises. The results indicate that ESG reporting has become more standardised and decision-useful, although the extent to which sustainability information is integrated into financial analysis varies across firms. OMV Petrom links decarbonisation objectives to capital allocation decisions, Hidroelectrica benefits from strong governance and a low-risk financial structure, while Transgaz focuses on compliance, network reliability and gradual transition. The paper concludes with several implications for regulators, investors and preparers of financial statements in emerging markets

The succession of recent crises — the COVID-19 pandemic, the 2022–2023 energy and inflationary shocks, and ongoing geopolitical instability — has highlighted the central role of leadership in safeguarding corporate resilience. In emerging economies such as Romania, where structural vulnerabilities remain significant, enterprises depend not only on financial stability mechanisms but also on leadership and sustainable management practices that integrate environmental, social, and governance (ESG) considerations. This article explores how crisis leadership and sustainable management practices contribute to financial and organizational stability in large Romanian enterprises. Through a qualitative analysis combining literature review and case-based evidence from the banking, energy, and retail sectors, the paper identifies key practices: adaptive decision-making, stakeholder-oriented governance, sustainable innovation, and alignment with digital and fiscal transparency reforms. Findings indicate that enterprises with leaders capable of integrating sustainability into crisis responses perform better in terms of resilience, reputation, and long-term competitiveness. The study also emphasizes the complementarity between corporate leadership, sustainable accounting/reporting, and institutional infrastructures such as ANAF’s digital compliance systems. The article contributes to the academic debate by linking crisis management theories with sustainability-driven leadership in an emerging economy context, offering both theoretical insights and practical recommendations for Romanian enterprises and policymakers.

In the context of growing global pressure for tax transparency and digital transformation, multinational corporations face increasing challenges in managing documentation and ensuring compliance with transfer pricing regulations. This paper explores how Artificial Intelligence (AI) technologies—specifically Natural Language Processing (NLP), Robotic Process Automation (RPA), and machine learning—can enhance the efficiency, accuracy, and traceability of documentation processes related to intercompany transactions. Based on a qualitative analysis and a case study of OMEGA Group, a large European multinational, we identify critical opportunities and limitations in the implementation of AI tools for fiscal reporting and documentation management. Our findings reveal that the integration of AI-driven systems significantly reduces human error, accelerates data processing, and improves alignment with OECD and EU regulatory standards. Moreover, we highlight how strategic investment in digital compliance infrastructures contributes to broader organizational sustainability by reducing operational risk and enhancing institutional credibility. In addition, this study considers the legal and regulatory implications of using AI for fiscal documentation, emphasizing the importance of algorithmic transparency and explainability (XAI) in jurisdictions with high formalism. Furthermore, the paper addresses emerging ESG requirements, particularly the EU’s Corporate Sustainability Reporting Directive (CSRD), and how AI supports sustainability-related disclosure by reducing paper-based processes and improving traceability. We also propose the inclusion of fiscal benchmarking mechanisms into AI systems to improve proactive risk assessment and cross-border compliance harmonization. The study concludes with practical recommendations for corporate decision-makers and public authorities aiming to improve tax governance through intelligent automation. It contributes to the growing body of literature on digital sustainability and offers a timely and original perspective on the intersection of technology, fiscal compliance, and responsible international management.

This study investigates the impact of globalisation, renewable energy consumption, and economic growth on CO₂ emissions in 26 European Union (EU) countries, in the period 1990–2020. Second-generation panel unit root tests are applied, the Westerlund cointegration test is used, and a panel of fully modified least squares (FMOLS) and dynamic ordinary least squares (DOLS) techniques are employed to estimate the long-term relationship between variables. The causality relationship among the considered variables is identified using the heterogeneous Dumitrescu–Hurlin causality test. It was found that globalisation and renewable energy consumption contributed to the carbon emissions’ mitigation, while economic growth induced their increase. The results are robust when control variables (i.e., financial development, foreign direct investment, and urbanisation) are added to the model. Foreign direct investment and urbanisation are contributors to carbon emissions’ increase, whereas financial development induces their decrease. The effect of the considered variables on carbon emissions is differentiated by economic development and level of institutional quality. Unidirectional causality relationships were identified from globalisation to carbon emissions and from carbon emissions to foreign direct investment and bidirectional relationships were found between economic growth, renewable energy consumption, financial development, and carbon emissions. The policy implications of the results are also discussed.

Background: In the current global market, innovations are one of the tools of sustainable development. Therefore, companies must change their attitudes toward innovation strategies in accordance with international and national environmental standards, laws, and market requirements. We often come across, in particular, the evaluation of economic factors of sustainability, which cannot capture the attitudes of companies to the solved issue of the perception of innovation as a tool of sustainable development. Therefore, the Kano model and cluster analysis are used to evaluate the attitudes of Slovak small and medium-sized enterprises towards innovation, and the aim of this paper is to evaluate innovation as a tool of sustainability in enterprises in Slovakia. Methods: This article’s main research method is the Kano model and cluster analysis. Conclusions: The findings of this paper reveal how small and medium-sized enterprises in Slovakia perceive innovation as a tool for sustainable development. Based on the results, we can state the positive attitude of small and medium-sized enterprises towards innovations supporting sustainable development, focusing on frugal innovations characterized by cost reduction, as well as innovation targeting functions, standards, laws, and performance optimization. They perceive these innovations as attractive and their implementation in corporate structures as a basic function for sustainable development through innovation.