Blerta Dragusha

Understanding how financial management practices translate into firm-level financial sustainability remains an important yet insufficiently explored issue. This study examines how financial discipline and financial risk management contribute to financial sustainability through financial resilience capacity. Drawing on a resilience-based perspective, financial resilience capacity is conceptualized as the firm’s ability to absorb financial shocks and adapt to uncertainty. The study employs a quantitative, survey-based research design using firm-level data collected during 2024–2025 from 217 respondents in financial and managerial roles. Financial discipline and financial risk management are operationalized through multi-item Likert-scale proxies capturing cost control, financial policy discipline, risk identification, diversification, and strategic financial planning, while financial sustainability is measured through indicators reflecting long-term financial stability and the ability to meet financial obligations. The relationships are tested using covariance-based structural equation modeling (SEM), including mediation analysis. The results show that both financial discipline and financial risk management significantly enhance financial resilience capacity, which in turn exerts a strong positive effect on financial sustainability. Financial resilience capacity acts as the primary mechanism linking financial practices to sustainable outcomes. While financial discipline has both direct and indirect effects, the impact of financial risk management operates fully through financial resilience capacity. These findings highlight the critical role of resilience in translating financial practices into long-term financial sustainability.

This study examines the investigation of accounting factors through audited financial statements in businesses by analyzing the qualified staff and investment in technology for sustainable profit. Therefore, the main goal is to analyze whether qualified staff and investment in technology affect the sustainability of profit in businesses through the investigation of accounting factors in the audited financial statements toward a circular economy, more specifically in these financial items: total assets (TASS), and intangible assets (IASS), total liabilities (TLIA), total income (TREV), and net financial income (NFI), based on questions about which financial items businesses should take care of, as well as businesses that do not invest in technologies and skilled staff: does this hinder profit sustainability? Therefore, for this study, data are collected from the financial statements (balance sheet and income statement) of (N = 800) businesses according to their activity (manufacturing businesses = 256, service businesses = 192, and distribution businesses = 353) during the period (2020–2022). The results show that each of the variables and factors had a significant impact on sustainable profit through the circular economy in (N = 800) businesses. However, to have a sustainable profit in business, it is strongly recommended to pay attention to these findings: businesses should (a) be careful with total liabilities, (b) increase the performance of total assets, (c) increase the performance of net financial income, (d) increase the performance of total business income, and (e) increase and develop the skills of workers, as well as improve technology (equipment, machinery, etc.). With implications and limitations, it was difficult to access some of the financial statements; there are only a limited number of variables, so the same models can be analyzed for other businesses, variables, and countries.

The spread of COVID-19 has caused the interruption of education in all levels of schools, forcing them to seek urgent solutions to reconfigure traditional education programs for distance learning. The emergency restrictions related to social distancing, gathering, etc., have generated a disruption, resulting in a massive quick shift to distance and online teaching. The disruption of teaching has been highly critical and complex, especially for developing countries due to the lack of technological infrastructure, low Internet access, low level of preparation of teachers and parents to use technology, and lack of learning motivation. This paper aimed at identifying the main teaching practices, challenges, and contextual characteristics that impacted the adoption and use of online teaching solutions, during the COVID-19 outbreak, in a developing country, Albania. The paper reached this goal by providing the results of a survey involving 100 educators from different levels of public education institutions in Albania (high schools and universities). The results revealed that despite a set of challenges faced, the online teaching experience during the pandemic time brought improvements in computer teaching skills and communication with students by using several applications for interactivity.