The Impact of Corporate Sustainability Strategies on the Financial Performance of Romanian Companies in the Context of Green Marketing
Author:Marian Siminică, Liviu Crăciun and Adina Dinu
JEL:M30, M31
DOI:
Keywords:corporate sustainability, green marketing, green highlighting, green washing, sustainability strategy, eco-communication
Abstract:
The current research paper aims at making a comprehensive analysis of the current green marketing initiatives adopted by the top performing Romanian companies, in order to understand the determinant factors that influence their green approach and to evaluate the impact of the sustainability strategies implemented on their financial performance. The research of business sustainability strategies in 31 top performing companies in Romania is conducted by analyzing their green marketing initiatives, the ability to communicate online current and past Corporate Sustainability (CS) actions (substantive action) and their future commitments towards green marketing (symbolic action). The authors also analyzed the impact of companies’ dimensions on their green performance and commitment, substantiating that the size of a company is a significant influential factor. The analysis of the impact of substantive and symbolic action on the financial performance of the companies shows that there is not a significant correlation between these indicators.