Prelims

GREEN WEALTH

CONTEMPORARY STUDIES IN ECONOMIC AND FINANCIAL ANALYSIS

Series Editor: Simon Grima

CONTEMPORARY STUDIES IN ECONOMIC AND FINANCIAL ANALYSIS - VOLUME 117

GREEN WEALTH: NAVIGATING TOWARDS A SUSTAINABLE FUTURE

EDITED BY

SIMON GRIMA

University of Malta, Malta

DIMITRIOS MADITINOS

Democritus University of Thrace, Greece

GRAȚIELA-GEORGIANA NOJA

West University of Timișoara, Romania

JELENA STANKEVIČIENĖ

Vilnius University, Lithuania

MALGORZATA TARCZYNSKA-LUNIEWSKA

University of Szczecin, Poland

ELEFTHERIOS I. THALASSINOS

University of Piraeus, Greece

and

KESRA NERMEND

University of Szczecin, Poland

United Kingdom – North America – Japan – India – Malaysia – China

Emerald Publishing Limited

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First edition 2025

Editorial matter and selection © 2025 Simon Grima, Dimitrios Maditinos, Grațiela-Georgiana Noja, Jelena Stankevičienė, Malgorzata Tarczynska-Luniewska, Eleftherios I. Thalassinos and Kesra Nermend.

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ISBN: 978-1-83662-219-2 (Print)

ISBN: 978-1-83662-218-5 (Online)

ISBN: 978-1-83662-220-8 (Epub)

ISSN: 1569-3759 (Series)

Simon Grima is the Deputy Dean of the Faculty of Economics, Management and Accountancy, Associate Professor and the Head of the Department of Insurance and Risk Management. Simon is also a Professor at the University of Latvia, Faculty of Business, Management and Economics a visiting Professor at UNICATT Milan and an affiliate professor at Haxhi Zeka University, Kosovo.. He served as the President of the Malta Association of Risk Management (MARM) and was President of the Malta Association of Compliance Officers (MACO) between 2013 and 2015, and between 2016 and 2018 respectively. He is again the current president of MARM since 2023. Moreover, he is the co-chair of the Scientific Education Committee of the Federation of European Risk Managers (FERMA) and is a member of the Strategic Risk Leaders Association (SRLA) previously the Public Risk Management Association (PRIMO). His research focus is on Governance, Regulations and Internal Controls and has over 30 years of experience varied between Financial Services, academia and public entities. He has acted as co-chair and is a member of the scientific program committee on some international conferences and is a chief editor, editor and review editor of some Journals and Book Series. He has been awarded outstanding reviewer for Journal of Financial Regulation and Compliance in the 2017 and 2022 and the outstanding author contribution for the Book Series Contemporary Studies in Economic and Financial Analysis Emerald Literati Awards in 2024. Moreover, Simon acts as an Independent Director for Financial Services Firms, sits on Risk, Compliance, Procurement, Investment and Audit Committees and carries out duties as a Compliance Officer, Internal Auditor and Risk Manager.

Dimitrios Maditinos holds a degree with specialisation in Business Administration and Informatics from Lund University in Sweden and a PhD degree in Finance and Financial Modelling from Greenwich University in London, UK. Currently, he is Professor in Business Administration and Informatics at International Hellenic University. Formerly, starting in 1985, he went through all the academic levels (from lecturer till full professor) working at Technological Educational Institute of Kavala and then at Eastern Macedonia and Thrace Institute of Technology. He has been teaching courses related to business, informatics, and e-business in both undergraduate and postgraduate levels. His research interests are in financial modelling, performance measurement, investors behaviour, e-business and e-commerce, applications and internet use, digital business, innovation, management information systems, SCM, and business digitalisation, with 4 volumes, 65 papers published in International Scientific Journals, and more than 90 papers presented in international conferences. Moreover, he serves as Scientific Board Member in many International Scientific Journals like Qualitative Research in Finance Markets, and European Research Studies Journal, among others, and as a Reviewer in International Journals like Industrial Management & Data System, Management Research Review (MRR), Cyberpsychology, Behavior, and Social Networking, Journal of Enterprise Information Management, Journal of Accounting, Auditing and Performance Evaluation, Baltic Journal of Management.

Grațiela-Georgiana Noja, PhD Habil., is the Vice-Dean of the Faculty of Economics and Business Administration, West University of Timisoara, Romania, in charge of scientific research activities, and a Professor at the same faculty, Department of Marketing and International Economic Relations. She is also a Doctoral Adviser in the field of Economics within the Doctoral School of Economics and Business Administration. She completed her studies with the highest honours at the West University of Timisoara and developed over 15 national and international projects throughout the years as a manager, project assistant, expert, researcher, task responsible, and trainer. She has around 40 publications indexed in the Web of Science Core Collection and a couple dozen other publications in relevant international journals/books/collective volumes. She is an Active Member of the International Strategic Management Association and has a wide membership in various educational organisations, research networks, scientific and review committees of top-tier journals, and international conferences. Her main research and teaching activities are developed within the economics and international business framework, with a keen focus on European economic integration, international migration, digital transformation, and sustainable economic development.

Jelena Stankevičienė is a Professor at the Department of Finance at Vilnius University (Lithuania). Her main research topics include sustainable green finance, green economy, circular economy, financial management for value creation, risk management, knowledge transfer, higher education management, multi-criteria decision methods. She is an Author of more than 100 scientific publications, most of them indexed in Web of Science, Scopus, EBSCO, Emerald, and other databases. She is a Co-author of three monographs. Throughout her career, she has been involved in EU development and Lithuanian projects and gained solid knowledge and experience in developing international activities. From her positions as a dean of the Faculty of Business Management, she shows both academic and practical experiences within the field of management and social responsibilities. Since 2008, she has been Editor-in-Chief of periodical peer-reviewed scientific journals, abstracted by international databases (including CA WoS Q2 and Scopus) and a Chairwoman and a Member of scientific and organising committees of different international conferences. Currently, she is an Editor-in-Chief of journal Ekonomika. https://www.journals.vu.lt/ekonomika

Malgorzata Tarczynska-Luniewska works at the Department of Econometrics and Statistics at the Institute of Economics and Finance, University of Szczecin. She specialises in quantitative methods, capital markets, finance, and economic and financial analysis. Her scientific interests include issues related to sustainable development and ESG problems. She has participated in many scientific and educational projects for over 20 years. She has also been a Member of research or expert teams for the economic environment. She is the author of numerous publications, including articles and chapters in monographs of a scientific and didactic nature. She is on behalf of the Ministry and a Member of the evaluation team of scientific units. She is the Subject Editor of the journal Wiadomości Statystyczne. The Polish Statistician. She is a Member of many professional associations and organisations of national and international scope. https://orcid.org/0000-0002-7338-1989

Eleftherios I. Thalassinos, PhD (UIC, Chicago, USA, 1983), DHC Degrees in Economics (Danubius University of Galati, Romania, 2013; University of Craiova, Romania, 2015; and Rostov State University of Economics, Russia, 2018), MBA, (De-Paul U Chicago, USA, 1979), BA, (U of Athens, Greece, 1976), is a Jean Monnet Chair Professor experienced in European Economic Integration and International Finance. He is the Editor-in-Chief of ERSJ, IJEBA, and IJFIRM and Chair of ICABE. He is Guest Editor in the Book Series Contemporary Studies in Economic and Financial Analysis published by Emerald, Contributions to Management Sciences by Springer, Business, Technology, and Finance by Nova, JRFM, RESOURCES, RISKS, and SUSTAINABILITY by MDPI. He is a Member of the Editorial Boards of several journals. His professional experience includes quantitative analysis, technical and financial analysis, banking, business consulting, project evaluations, international business, international finance, and maritime economics. He has a long track of publications in several journals, collective volumes, and chapter books. Among them a publication as a chapter book in the World Scientific Handbook in Financial Economics Series Vol. 5 dedicated to the memory of Late Milton Miller, Nobel prize winner in Economics in 1990. Parallel to his academic career, he has performed as Bank Director for 12 years, Ministerial Advisor for 6 years, Public Servant for 4 years, and independent consultant for a long time.

Kesra Nermend is a Professor at the University of Szczecin along with the Head of the Department of Decision Support Methods and Cognitive Neuroscience; the Director of the Institute of Management, University of Szczecin; the Director of the Center for Transfer and Technology at the University of Szczecin; and the President of the Center for Research and Development for the University of Szczecin. His research interests are primarily shaped by issues surrounding the application of quantitative methods and IT tools in the analysis of the socio-economic processes, with particular emphasis on multi-criteria methods, multi-dimensional data analysis, cognitive neuroscience techniques in the study of social behaviour, and consumer preferences modelling in business decision-making process in management. Additionally, he has published more than 130 publications (including many monographs published in SPRINGER and articles in journals from the Philadelphia list), mainly using quantitative methods and tools to analyse economic problems and decision support.

Emilia Mary Bălan is a Scientific Researcher at the Institute for Advanced Environmental Research (ICAM) and the Institute for World Economy (IEM). She holds a PhD in Economics from the West University of Timisoara and is a graduate of Politehnica University of Bucharest, where she earned a bachelor’s degree from the Faculty of Engineering and Management of Technological Systems (now the Faculty of Industrial Engineering and Robotics). Since 2005, she has also developed expertise in the agriculture market. From 2019 onwards, her main areas of specialisation have been bioeconomy, circular economy, renewable energy, and environmental protection.

Qerkin Berisha is a Professor at the University of Prishtina Faculty of Law, teaching Civil Law, Civil Law Clinics, and EU Commercial Law. He has over 20 years of experience in academic institutions, public administration, civil society, and legal consultancy. He has held senior positions in the Civil Service, including roles in the Strategic Planning Office of the Office of the Prime Minister of Kosovo and leading the Legal Department in the Ministry of Finance. He has extensive experience supporting Kosovo’s central government institutions and ministries in drafting legislation, developing policies, and strategic planning, including harmonising Kosovo legislation with the EU Acquis. He has authored and co-authored several publications in the legal field.

Simona Biriescu, PhD, is an Associate Professor at the West University of Timișoara (Romania), Faculty of Economics and Business Administration, Department of Business Information Systems. In 2002, she obtained a Doctorate in Management. She received a diploma and a prestigious certificate in France, Diplome d’Etudes Superieures Specialisees and Certificat d’aptitude a l’Administration des Entreprises, at the Universite de Nice – Sophia Antipolis, Institut d’Administration des Entreprises, 1996. She also obtained a Trainer’s Diploma and Trainer’s Certificate in Education at Babeș-Bolyai University, Teaching, Cluj Napoca, 2007. She is a Member of the undergraduate and master’s commissions, doctoral theses and Member of the final commission of the National Olympiad of Informatics for students held at ‘Dănărea de Jos’ University in Galati, 2013. She is currently a Member of the Regional Science Association (ARSR) of A.S.E. Bucharest since 2002, a Member of RSAI International since 2003, and a Member of ERECO P.G.V. Grenoble, France, since 2005.

Alexandra-Codruța Bîzoi is a Lecturer at the West University of Timisoara (Romania), Faculty of Economics and Business Administration, Management Department. She defended her doctoral thesis in the Finance Department and received the Magna Cum Laude appreciation for her thesis. Her research interests are behavioural tax compliance, business ethics, and supply chain management. She holds courses for both bachelor and master students in the Romanian and French lines of study. She also worked in Project Management, and thanks to the fact she is fluent in English, French, German, Italian, and Spanish, she coordinated the Faculty’s International Relations Office.

Cristian-Gabriel Bîzoi is an Associate Professor at the West University of Timisoara (Romania), Faculty of Economics and Business Administration, Management Department. He also coordinates the Center of Long-Life-Learning and Distance Learning and participated in implementing and developing the Moodle e-learning platform at the university level for several years, which helped a smooth transition towards online learning during the pandemic. His research interests lie in supply chain management, risk management, business ethics, project management, and innovation management. He holds courses for both bachelor’s and master’s students. He has worked for the local Regional Development Agency, evaluating European-funded projects.

Bentje Böer currently works as a Consultant for the OECD and World Bank, where she focuses on real economy impacts of climate-related financial policies and effects on emerging economies. She is also a Research Analyst for AidData at William and Mary, contributing to development policy analysis for UN and governmental agencies. Previously, she worked with the German Finance Agency on Green Finance on sustainability reporting by sovereign issuers. She holds a BSc in Economics from Bonn University and an MA in International Relations from Johns Hopkins School of Advanced International Studies.

Monica Boldea, PhD, is a Lecturer at the Faculty of Economics and Business Administration, West University of Timisoara, Romania. She is a highly experienced professional specialising in both modern languages and economics. After graduating from the West University of Timisoara, she pursued a 3-year post-graduate specialisation in Diplomacy and Foreign Relations. Being committed to continuous professional development, she furthered her academic endeavour by undergoing continuous training in the field of economics with doctoral studies, followed by a post-doctoral programme with the Romanian Academy in Bucharest. Thus, her main research focuses on regional development issues, the influence of culture and institutions on economic development, as well as issues of globalisation, human capital, and international migration. Currently, she conducts tailored training sessions for students in Economics, catering to their need for foreign language skills while debating case studies in the field of their immediate interest. Her engagement as a Lecturer, being detail-oriented and passionate about her work, as well as her involvement and participation at countless national and international conferences, highlights her dedication to advancing in the field through commitment and collaboration.

Alberto Bongiorno is a Master of Science (MSc) student in the field of Business & Consulting at the Department of Economics, University of Messina. His focus is dedicated to the study of environmental sustainability and environmental management at the local level, with the aim of identifying potential solutions for a sustainable future.

Anna Broughel is a Lecturer in Sustainable Energy Transition Policy and a Faculty Co-lead of the Technology and Innovations focus area at Johns Hopkins University School of Advanced International Studies (SAIS). Prior to her current position, she served as the Director at the Clean Energy Leadership Institute, an Energy Economist and Statistician at Tetra Tech, and an ORISE Fellow at the Solar Energy Technologies Office within the US Department of Energy. Since 2020, she has been elected as the VP of communications and has been serving on the executive council of the United States Association for Energy Economics. She holds an MA in International Economics from the University of Konstanz and a PhD in Economics and Policy, conferred by the State University of New York in association with Syracuse University, where she was a Fulbright Scholar. She completed her post-doctoral training at the University of St. Gallen in Switzerland and the University of Maryland, College Park.

Hategan Camelia-Daniela is a Doctor in Accounting, with over 30 years of experience in the field of accounting and auditing, being a Teacher, and now a Full Professor at the West University of Timisoara, Romania. She is also PhD Supervisor in the field of Accounting. She has a deep knowledge of accounting information and the analysis of financial indicators reported by companies and has extensive experience as a researcher in publishing articles and participating in academic international conferences. The written articles were published in international journals indexed in several databases, namely, Clarivate Web of Science and Scopus. Also professionally, she is a financial auditor with over 20 years of experience and was a trainer within the professional body of auditors in Romania.

Giuseppe Caristi is a Full Professor on Mathematical Methods of Economy, Finance, and Actuarial Science. He is a Member of the Doctoral School in Public Administration Science. He is Editor-in-Chief of International Journal Mathematical Analysis and International Journal of Contemporary Mathematical Sciences. He is Author of over 180 scientific publications in international journals and 5 monographs on Mathematics for Economics, Optimisation Theory, Nonlinear Analysis, and Mathematical Models for Applied Sciences.

Laura Mariana Cismaș is a Professor of Economics at the Department of Marketing, International Business and Economics, Faculty of Economics and Business Administration, from the West University of Timisoara. Her teaching experience with the West University of Timisoara and in the field of scientific research regarding macroeconomics, microeconomics, regional economics, European macroeconomics, and European economic policies goes back more than 32 years. She is a Member of prestigious professional and scientific associations and international journals’ editorial staff. She was also a Member of RSAI, ERSA, and PGV research projects.

Pelau Corina, PhD, is Professor and Coordinator at the Bucharest University of Economic Studies, UNESCO Department for Business Administration. She holds a PhD degree in Marketing (2008) from the Bucharest University of Economic Studies, Romania; a master degree in ‘International Business’ (2006) from the Friedrich Alexander University Erlangen Nürnberg, Germany; a bachelor degree in Business Administration (2004) from the Bucharest University of Economic Studies; and a bachelor degree in Mathematics (2009) from the Western University of Timisoara, Romania. Her main research field is consumer research, with focus on the relation between consumers and artificial intelligence, neuroscientific approaches of consumer behaviour and sustainable consumption. Her research has been published by several indexed journals. Her research work has been rewarded with the Best Paper in an Economic Journal Award by AFER (Association of Economic Faculties in Romania) in 2018, the Opera Omnia Award for Excellence in Scientific Research by the Bucharest University of Economic Studies (2019). She is Member of the Association for Consumer Research (since 2015) and Member of the European Marketing Academy (since 2018). Starting with 2021, she is part of the Executive Committee of the European Marketing Academy as National Representative for Romania and Co-coordinator of the Climber Community Interest Group at EMAC.

Florin Costea is currently a Postdoctoral researcher at the West University of Timisoara and a Member of the research team of a Research project funded by Romania’s National Recovery and Resilience Plan (PNRR) – Pillar III, Component C9, Investment I8. His doctoral research focused on the relationship between public sector governance and entrepreneurship. His research results were disseminated at international conferences, and he published articles in journals indexed in international databases, including three papers in journals indexed Clarivate – Web of Science, with an impact factor. He is also the head of Finance in the Romanian corporate headquarters of a multinational company.

Carlotta D’Alessandro is a PhD Candidate specialising in Sustainability and Circular Economy at the Department of Economics, University of Messina. Her research is dedicated to addressing critical issues in sustainability and promoting circular economy practices, working towards a more sustainable and circular future.

Rad Dana, PhD, is Associate Professor in the Faculty of Educational Sciences, Psychology, and Social Sciences at Aurel Vlaicu University of Arad, Romania. She is Head of Center of Research Development and Innovation in Psychology. She holds a double specialisation in Psychology (PhD in Applied Cognitive Psychology) and Systems Engineering (PhD student in Systems Engineering). She was Research Scientist in more than 20 European Union funded projects. Her research interests include applied cognitive sciences, cognitive systems engineering, organisational psychology, and psychoinformatics. She is Coauthor of 20 books and more than 175 international conferences and journal papers. She is registered as Autonomous Psychologist with the right to practice freely in the specialisations: clinical psychology, educational psychology, school and vocational counselling, and work and organisational psychology.

Cuc Lavinia Denisia, PhD, is Full Professor at Department of Economic Disciplines, Faculty of Economics at Aurel Vlaicu University of Arad, Romania. She is the Author or Co-author of 3 books and has published over 35 articles in scientific journals indexed in international databases or at international conferences. Her main research interests are management, financial accounting, managerial accounting, controlling, and financial analysis. She is qualified in coordinating PhD students in Management since 2023 when she was accepted into the Interdisciplinary Doctoral School of Aurel Vlaicu University of Arad. She holds several administrative positions in the department council, the Faculty council, various commissions at the Faculty or University level.

Szentesi Silviu Gabriel, PhD, is a Full Professor at the Department of Economic Disciplines, School of Economic Studies at Aurel Vlaicu University of Arad, Romania. He is the Author or Co-author of 21 books and has published over 40 articles in scientific journals indexed in international databases or at international conferences. Since 2018 habilitated in Communication Sciences at the University of Paul Valery Montpellier 3 France and since 2022 habilitated in Management at the West University of Timișoara where is active in teaching German language Marketing, Econometrics, and Business Communication and Negotiation. His main research interests are management, environmental management, marketing research, and communication. He has been qualified in coordinating PhD students in Management since 2023 when he joined the Interdisciplinary Doctoral School of Aurel Vlaicu University of Arad. Also professionally, he is a Trainer for Entrepreneurship and Marketing from the German Forum in Romania.

Andrea Gînguță is a Teaching Assistant at the Faculty of Economics and Business Administration, West University of Timisoara, Romania, Department of Management and Entrepreneurship, and a PhD student in the accounting field at the same faculty. Having a bachelor’s degree in finance and a master’s degree in management (diagnosis, assessment, and business consulting) at the Faculty of Economics and Business Administration, her research is currently focused on artificial intelligence and technological innovation, business performance, ethics, and sustainable business development.

Irina-Maria Grecu is a Teaching Assistant and PhD student in Economics at the West University of Timisoara, Romania, Faculty of Economics and Business Administration. She holds a master’s in Management and European Integration and a BA in Economics and International Business at the West University of Timisoara, where she graduated with the highest honours. Her main research activities are focused on the process of international labour migration in EU-27, especially in Romania, on the values of the employee of the future and on the digitalised and globalised era labour market outcomes.

Virginija Grybaitė, is an associate professor at the Department of Business Technologies and Entrepreneurship at Vilnius Gediminas Technical University. She has authored or co-authored over 30 publications in scientific journals, alongside contributing to six educational and methodological books. Her research interests are entrepreneurship, sharing economy, digital economy, green economy, and sustainable development.

Alina Ionașcu is a Doctoral Candidate at the West University of Timisoara, Romania, researching the nexus of globalisation and European economic integration. Her academic journey, enriched by a master’s in European studies and an ongoing master’s in business law, equips her with diverse perspectives on these themes. Her experience extends to an Erasmus exchange in Lille, France, and a Student Evaluator in an Economic Studies role at the Romanian Agency for Quality Assurance in Higher Education. This blend of education and experience underpins her commitment to exploring the theoretical underpinnings of globalisation and integration, as evidenced in the systematic and bibliometric analysis of relevant scientific literature.

Giuseppe Ioppolo, PhD, is Civil Engineer and is a Full Professor in Environmental Management and Sustainability at the University of Messina, Department of Economics. He is the Scientific Coordinator of Lean & Quality Solutions LAB. He is Author of about 150 publications, with Scopus H-Index 35; his main research topics are urban metabolism and sustainable urban development, circular economy assessment, decision support system models, sustainability indicators development. He is Chair and Board Member on International Conferences on Sustainability and Industrial Ecology as ISIE, ISDRS, and WSF Conferences; he is Section Editor-in-Chief of Sustainability MDPI. He was Visiting Professor at Tsinghua University (China), UCSB (USA), Tokyo University (Japan), Aachen University (German), Szczecin University (Poland), CML-IE Leiden University (Netherlands). PI and Co-PI in PRIN and PRIN-PNRR currently running scientific projects.

Alexandru Jivan performed as an Economist, Chief Economist, and Head of Office, in economic and administrative units and also in the research field (e.g. as a Researcher within the Institute of Economic Forecasting, Bucharest). As a Teacher – focused mainly on the issues of productivity, efficiency and especially on service economy – since 1999 he was full professor in the West University of Timișoara. He is also a PhD Coordinator within the Doctoral School of Economics and Business Administration (Economics field) and Former Director of this Doctoral School. He was Member in diverse scientific organisations – exemplifying just the former membership of the Commission for Titles Certifying in the Romanian Education Ministry, and the former honorary membership of the Services World Forum (1994). He also was a Member of the editorial teams, or scientific committees, of several journals and scientific events, organiser, reviewer for scientific journals and events. He published more than 10 books, 10 university courses, more than 150 articles and papers in reviews and volumes, having more than 25 researching participations in scientific contracts (director/coordinator in 5 contracts).

Mark Kantšukov is a Lecturer in Finance at the School of Economics and Business Administration, University of Tartu, where he teaches a range of finance-related courses in both bachelor’s and master’s programmes. He is also a Guest Lecturer at the Estonian Business School in Tallinn. His academic interests include business valuation, corporate finance, financial markets, behavioural finance, and green finance. He serves as a Member of the Nasdaq Tallinn Listing and Surveillance Committee and the evaluation committee of the Estonian Association of Appraisers. He holds a PhD in Economics from the University of Tartu.

Aleksandra Klich, PhD, is Legal Advisor; Graduate of the Faculty of Law and Administration, University of Szczecin and l’Université d’été du droit continental, Paris – Sorbonne. She is Member of the Regional Chamber of Legal Advisors in Szczecin. She serves as the Head of the Law Clinic of the Faculty of Law of the Faculties of Law of the USA and is a Board Member of the European Network for Clinical Legal Education (ENCLE). As a Trainer, she conducts trainings and workshops on civil procedure, consumer rights, medical law, patients’ rights, data protection, and RODO. She is Member of the Council of the University Legal Clinics Foundation. As a Legal Advisor, she specialises in medical law, with a particular focus on patients’ rights and the pursuit of civil law claims by patients and medical professionals. She serves as Vice Chair of the Provincial Commission for Adjudication of Medical Events in Szczecin for the second term for 2018–2023.

Konstantinos I. Liapis is a Professor of Accounting & Business Administration at the Panteion University of Social and Political Sciences, Department of Economic and Regional Development. His areas of interest in science include accounting, managerial accounting, mergers & acquisitions, banking and finance, business economics, and operation research. He has more than 100 contributions to international academic conferences and other publications; he has written several books and papers in scientific journals. His work has received more than 500 citations. He held high-ranking positions in the business and banking sectors, worked as an accountant and business consultant for more than 30 years, also taught undergraduate and graduate courses at several other universities. He is a Member of the Advisory Council and Editorial Board of the European Research Studies Journal and International Journal of Economics and Business Administration.

Oana-Ramona Lobonț, PhD habil., is a Professor at the Finance Department from the Faculty of Economics and Business Administration, West University of Timisoara, with over 21 years of experience in socio-economic research. The main areas of interest include, among others, public economics, energy economics, institutional economics, political economics, governance, health economics, environmental and climate change, and societal impact and policy on the other. Her research in these fields has been published in 10 books and over 70 papers indexed in Web of Science academic journals, from which 10 Highly Cited Papers.

Agnieszka Majewska is Associate Professor in the Institute of Economics and Finance (Department of Sustainable Finance and Capital Markets) at the University of Szczecin. Her research interest includes the use of quantitative methods on the financial market, quantitative analysis of companies, sustainable finance, financial inclusion, risk management, capital market analysis, derivatives and financial engineering, and investing in the capital market. She is the Author of several books and more than 100 scientific articles. She has carried out a number of research projects and expertise. She is the Reviewer of many scientific articles, bachelor’s and master’s theses, and dissertations.

Sebastian Majewski is Associate Professor of Economics at the University of Szczecin, Deputy Director of the Institute of Economics and Finance at the University of Szczecin, and Vice President of the Polish Association of Neurology Program (PSPN). His economics interests of are focused on financial markets, quantitative methods for supporting stock exchange investment (especially portfolio analysis), financial engineering, behavioural finance, and sports finance. He is the Author of more than 100 scientific articles, books, and chapters. He is an External Expert for courts, investment funds, and financial companies in cases concerning financial instruments, strategies, and financial assets valuations.

Nicoleta-Claudia Moldovan, PhD habil., is a Professor at the Finance Department from the Faculty of Economics and Business Administration, West University of Timisoara. She is a PhD Advisor in Economics, Finance specialisation, and also holds a postdoctoral degree in Economics. She has 29 years of experience in research and teaching in higher education. Her research mainly addresses public policies, good governance, fiscal policies, entrepreneurship, and economic competitiveness, with more than 20 papers in journals indexed by Clarivate – Web of Science, with an impact factor, including one highly cited paper. She is an Evaluator in the Finance domain in the Romanian Agency for Quality Assurance in Higher Education and is the Director of the Accreditation Department.

Miruna Lucia Năchescu, PhD, is the Chief of Staff for the Rector Office and Associate Professor at the West University of Timisoara, the Economics and Business Administration Faculty, Department of Finance, where she has also completed her studies (an undergraduate programme in Accounting and Informational Management Systems, a master’s programme in Capital Markets, a PhD in Finance, and a post-doctoral programme in Corporate Governance). She is teaching and doing research in the field of economics, focused on the financial international markets and financial management of entities but also the proper development of various sectors and public policies for sustainable economic development. She has worked as CFO of several small companies and in fiscal consultancy, is a Member of CECCAR, and has published papers in journals indexed in the Web of Science Collection and other relevant international journals, books, or conference volumes. She was involved in more than 15 projects as a manager, trainer, expert coordinator, researcher, etc. She provides the management of all support activities related to the Rector’s Office events and public relations, therefore, has specialised in diplomacy and protocol, and has gained lots of experience in organising academic and cultural events for the last 10 years.

Mihaela Neamțu, PhD habil., is Professor of Mathematics at the Faculty of Economics and Business Administration, West University of Timisoara, Romania. The main direction of the research field is related to the study of dynamical systems from economy, computer science, biology, and medicine described by nonlinear differential equations with time delay. The ability to manage research teams is proved by the tenure as Director in two national research projects and the Management Committee Membership in COST Action 2016–2020. Throughout the students’ academic journey, she assisted and guided them enabling real access to the labour market. In this way, she participated as subject matter expert in 10 projects. Alongside the above listed grants, I would like to highlight my membership in 11 multi-annual CNCSIS/UEFSCDI research projects, in 1 international Brancusi research project and in 3 ERASMUS+ projects as researcher. The autonomy of the research activity is reflected by the outcome materialised in 6 books, over 110 articles in ISI and BDI journals. She reviewed articles submitted to BDI and ISI journals. It is worth mentioning the amount of 670 citations in ISI and BDI journals. Also, she is Editor-in-Chief at Timișoara Journal of Economics and Business.

Laura Olteanu, PhD, is a Lecturer at the Babeș Bolyai University Cluj Napoca (Romania), Faculty of Economic Sciences and Business Administration, Department of Business Administration. Her main areas of research and teaching activities are marketing, consumer behaviour, and marketing research. She obtained the scientific title of Doctor of Economics at the Academy of Economic Studies Bucharest (ASE). She was part of the university senate for two terms, during which she was a Member of the Commission for academic development projects, relations with the business environment and forecasts of the UBB Senate, and a Member of the Commission for Intercultural Dialogue of the UBB Senate. Within the research activity, she stands out with three specialised books as the sole author, in the field in which he works, as well as numerous specialised articles.

Being concerned with social rights, she is part of the Commission for Equal Opportunities between women and men, as a Titular Member within the National Agency for Equal Opportunities between women and men.

Foteini I. Pagkalou She is a PhD candidate at the Panteion University of Social and Political Sciences in the field of Corporate Governance, Corporate Social Responsibility, and Corporate Information. She is a full-time Teacher in secondary education and holds two postgraduate titles – in Applied Economics and Management and in Leadership and Management in Education, and two undergraduate titles – in Public Administration and a degree in Mechanical Engineering. She is seconded to the Panteion University and provides tutorials in business economics and accounting. Her scientific interests include corporate responsibility, operations research, strategic marketing, total quality management, and management accounting. Part of her research work has been published in the Journal of Risk and Financial Management and Springer.

Maria-Izabela Purdescu is a dedicated and passionate undergraduate student who is currently studying at the Faculty of Economics and Business Administration, West University of Timisoara, Romania. She has chosen to major in Economics and International Business and has shown a great interest in various topics related to these fields. She is particularly interested in the world economy and is always eager to learn more about the latest trends and developments in this area. She has also developed a keen interest in sustainable economic development, international trade, data analysis, and international investment, which she believes are essential aspects of the modern global economy.

Anna Spoz, PhD, is Assistant Professor at the Department of Finance and Accountancy at the John Paul II Catholic University of Lublin, Poland. Her research and teaching scope focus on finance, particularly corporate finance, accounting, and tax and sustainable finance. She is Author and Co-author of numerous publications on finance, accounting, reporting, and management. She is Reviewer of international publications. She combines teaching and scholarly activities with work in the business.

Andrei Cristian Spulbăr is an accomplished Romanian professional specialising in economic sciences and regional development. Born on 31 March 1998, in Craiova, Romania, he has made significant strides in both his academic and professional journey. He holds a master’s degree in Economic Sciences from the University of Craiova, focusing on Finance and Business Administration, and is currently pursuing a doctoral degree in Finance. His professional experience includes roles at Hewlett Packard Enterprise, Ernst & Young, and currently, the South-West Oltenia Regional Development Agency. His research endeavours are extensive, with contributions to economic journals on topics like cybercrime’s global effects, financial education, and market volatility, particularly in the context of emerging markets and economic crises. He is fluent in English and possesses basic French skills, enhancing his ability to contribute to and collaborate on international economic discussions.

Petru Ştefea is a Professor at the Faculty of Economics and Business Administration, West University of Timisoara, Romania. He pursues research and teaching activities on topics related to financial analysis, economic analysis, financial output analysis, structural funding, investment finance, and efficiency. During his academic career, he was also the Vice-Rector of the West University of Timisoara (between 2008 and 2016), Dean of the Faculty of Economics and Business Administration at the West University of Timisoara, a Member of CECCAR as an expert accountant since 2001, and a Member of ANEVAR as a company assessor since 1997. He has a wide expertise in national and international projects and comprehensive membership in various educational and professional organisations and research centres.

Katarzyna Szopik-Depczyńska, PhD, DSc, is Associate Professor in Management and Quality Sciences in the University of Szczecin, Institute of Management. She is the Author of about 170 publications, including Q1 and Q2 journals such as journal of cleaner production, business strategy and the environment, sustainable cities and society, land use policy, ecological indicators, sustainability. Her Scopus H-Index is 15. Her main research topics are innovation management, R&D, sustainability, CSR, logistics, and transportation issues. She is Section Co-Editor of Sustainability journal (MDPI). She was a Visiting Professor at the University of Messina (Italy). She attended various national and international congresses (also as invited speaker), and she was involved as Member of the scientific committees of several international conferences. She has also an experience in the field of cooperation with local government institutions. She was also a Guest Editor of Special Issues in Sustainability journal. She is a Reviewer for Q1 journals such as Environmental Innovation and Societal Transition (IF 8.41), Journal of Cleaner Production (IF: 7.246), Science of the Total Environment (IF: 6.551), Environmental Science and Policy (IF: 4.767), Land Use Policy (IF: 3.682), Transportation Research. Part A: Policy and Practice (IF: 3.992), Sustainability (IF: 2.576), JCMS: Journal of Common Market Studies (IF: 2.089), and many more.

Alexandra-Mădălina Ţăran is a Teaching Assistant Ph.D. at the Faculty of Economics and Business Administration, West University of Timisoara, Romania, in the finance field, studying different aspects related to the relationship between public governance, climate change, and health systems. She has around 12 publications indexed in the Web of Science Core Collection and other publications in relevant international journals/books/collective volumes. Her research mainly addresses the public economic field, namely public policies, welfare, climate change and good governance, with interdisciplinary research directions that focus on health economics, digitalization, wellbeing, sustainability, and economic growth.

Cristian Tudorescu is a Graduate of the Bachelor in Finance and Banking programme, which is organised within the Finance Department at the Faculty of Economics and Business Administration, West University of Timisoara. His bachelor thesis research focused on understanding the intricate dynamics between the environment and the economy to develop more informed policies to promote sustainable development.

Sorana Vătavu, PhD, is Associate Professor within the Finance Department at the Faculty of Economics and Business Administration from the West University of Timisoara. She has extensively developed numerous research studies, attested by more than 20 publications indexed in the Clarivate – Web of Science Core Collection and more than 20 articles and papers in international journals and books or conference proceedings. Her main research and teaching activities are developed within the finance field, with a focus on corporate finance and corporate social responsibility strategies, better public governance, but also on welfare and sustainable development in terms of the economic and social areas.

Cristina Georgiana Zeldea is a Scientific Researcher at the Institute for Economic Forecasting – Romanian Academy since August 2022. Between January 2018 and August 2022, she was Assistant Researcher at the Institute for World Economy. She graduated from the Faculty of International Business and Economics in 2017, within Bucharest University of Economic Studies, and holds an MSc degree in International Financial Risk Management. She holds a PhD degree in the field of risk in financial markets.

Magdalena Zioło is Professor at the University of Szczecin, Poland. Her research and teaching scope focus on finance, banking, and sustainability. She has extensive experience gained in financial institutions. She has received scholarships from the Dekaban-Liddle Foundation (University of Glasgow, Scotland) and Impakt Asia Erasmus + (Ulan Bator, Mongolia). She is a Member of Polish Accreditation Commission, Member of the Financial Sciences Committee of PAS (the Polish Academy of Sciences), Member of the Advisory Scientific Committee of the Financial Ombudsman, Expert of the National Centre for Research and Development, Expert of the National Science Centre and the National Agency for Academic Exchange, Expert of the Accreditation Agency of Curacao. She was a Member of State Quality Council, Kosovo Accreditation Agency and Visiting Professor of the University of Prishtina (Kosovo). She is Principal Investigator in the research projects funded by National Science Center, Poland, in the field sustainable finance. She is the author and editor of numerous books, mostly about financing sustainable development.

Part of this work was supported by a grant from the Romanian Ministry of Research, Innovation, and Digitalisation, the project with the title ‘Economics and Policy Options for Climate Change Risk and Global Environmental Governance’ (CF 193/28.11.2022, Funding Contract no. 760078/23.05.2023), within Romania’s National Recovery and Resilience Plan (PNRR) – Pillar III, Component C9, Investment I8 (PNRR/2022/C9/MCID/I8) – Development of a programme to attract highly specialised human resources from abroad in research, development and innovation activities.