Proceedings of the International Conference on Business Excellence Feed

<title>Proceedings of the International Conference on Business Excellence Feed</title>

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<title>Proceedings of the International Conference on Business Excellence Feed</title>

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<![CDATA[ Global Risks Related to Involuntary Migration ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0307</guid>

<![CDATA[ The aim of the research is to analyse the topic of involuntary migration to identify relevant global risks that may be associated. The Global Risks Report 2024 place involuntary migration in top 10 risks over the next decade. Understanding how systems are interconnected is important for policy makers to choose the right strategy and to set investment priorities, including for the purpose of increasing resilience. To analyse the interference relationship between global risks associated with involuntary migration we proposed a new analytical tool “GRiNLoc-GpESTE (Global, Regional, National, Local - Geopolitical, Economic, Societal, Technological, Environmental).” The main factors leading to involuntary migration are related to internal or inter-state conflicts; natural disasters and extreme weather events, including the impact of climate change; man-made disasters; and lack of opportunities for economic advancement. Our analytical process highlighted that the phenomenon of involuntary migration needs to be addressed more carefully in the next decade from an interconnected perspective because of the risks associated with critical changes in the earth systems, lack of economic opportunities, illicit economic activity, and the cyber insecurity. Given that concurrent shocks, deeply interconnected risks, and eroding resilience can result in the development of polycrisis or cascading crises, we consider that addressing the risks associated with involuntary migration requires early identification of solutions to increase resilience at local, national, regional, and global levels, analysed from a cross-cutting perspective, interconnected with global risks. We appreciate that the strategic decision should be based on modern analytical techniques, including multirisk analysis. ]]>

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<![CDATA[ Measure of Network Effect on Social Media Platforms ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0306</guid>

<![CDATA[ Social media platform dramatically changed the world in the last 2 decades. From limited communication possibilities, the individuals found themselves in the posture of connecting with others at only few clicks distance. Those platforms rely on large networks of people and their operators benefit from their effect. The paper examines how network effects impact the financial performance of social media organizations, analyses the strength of these effects on various platforms, and suggests a methodology for calculating the money generated by each user. This comprehensive method seeks to analyze the correlation between user base expansion and income production, providing valuable insights into the strategic importance of network effects in the digital economy. ]]>

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<![CDATA[ The Economic and Socio-Cultural Impact of the Beauty Industry in the European Union ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0304</guid>

<![CDATA[ In recent years, the beauty industry has grown a lot and is now a big part of the economy in the European Union. This paper looks at how the beauty industry affects society and the economy. It talks about jobs, new ideas, consumer happiness, and economic growth. First, the paper gives an overview of the European beauty industry, including its size, structure, and main trends. Then, it discusses how the industry creates jobs, both directly and indirectly, in manufacturing, distribution, retail, and beauty services. The paper also talks about how the industry is good for innovation, such as developing new products, using technology, and making new marketing plans. Beyond the economy, it looks at how the beauty industry affects how people feel. It talks about how taking care of oneself can help people feel better about themselves and more confident. The paper also explores how the beauty industry influences culture and social norms, like fashion, beauty standards, and how people see beauty in society. Finally, the paper looks at the beauty industry’s contribution to the EU economy. It talks about how the industry helps with GDP, taxes, and investment from other countries. The paper also mentions how the industry supports new ideas, entrepreneurship, and economic growth in different regions ]]>

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<![CDATA[ Digitalization trends and expectations in Ukraine from a European perspective ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0303</guid>

<![CDATA[ This paper examines the comprehensive digital transformation initiatives undertaken by the Government of Ukraine between 2020 and 2025, focusing on policy frameworks, infrastructure development, and strategic planning in various sectors. Through legislative measures and infrastructure projects, Ukraine has positioned itself as a leader in digital innovation, with a particular emphasis on artificial intelligence (AI) integration. The adoption of AI technologies across education, economics, cybersecurity, defense, public administration, and legal regulation demonstrates a concerted effort to modernize and optimize key aspects of governance and economic activity. Furthermore, Ukraine’s collaboration with European institutions and participation in initiatives such as the European Open Science Cloud (EOSC) and the Digital Europe program highlight its commitment to aligning with European standards and fostering international cooperation. The paper also discusses the role of international support, particularly from the European Union and USAID, in bolstering Ukraine’s digital resilience and innovation ecosystem. Through strategic partnerships and domestic initiatives, Ukraine aims to harness the potential of digital technologies for economic growth, societal advancement, and resilience against emerging threats. ]]>

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<![CDATA[ Navigating Risk: Strategies for Managing High-Risk Clients in the Insurance Industry ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0305</guid>

<![CDATA[ The insurance sector’s long-term success depends heavily on effective risk assessment and management. This study explores the complexities of risk profiling within the insurance industry, focusing on identifying and managing high-risk clients. By examining various methodologies and factors influencing risk, this research highlights the challenges in evaluating high-risk clients and proposes strategies for effective risk management. Accurate risk profiling is essential for insurers and policyholders, aiming to enhance resilience and stability within insurance operations. ]]>

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<![CDATA[ Improving the activity of the Romanian customs authority with immediate effects on combating fiscal and customs misdemeanors ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0302</guid>

<![CDATA[ The Romanian Customs Authority (AVR) is a structure that contributes to the health of society and the development of the economy. The main activity refers to the control of the flow of goods and people in and out of the respective country. To make the AVR activity more efficient, it is necessary to carry out a quality assessment of its functioning and activity using the legislation, the European regulations and the norms in force. This research uses qualitative evaluation and empirical experience to develop proposals for improving acuity. Among the main activities imposed are the establishment of two directions, the Customs Administration Direction, and the Operational Customs Control Direction. The limitations of this research refer to the fact that the entire evaluation was carried out at the level of Romania. The research can be extended to other countries of the European Union. ]]>

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<![CDATA[ Retraction ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0301</guid>

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<![CDATA[ The Shifting Landscape: A Holistic View of Migration in Poland, Hungary, and Romania ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0298</guid>

<![CDATA[ This comprehensive study delves into the multifaceted dynamics of migration in Eastern Europe, focusing on Poland, Hungary, and Romania. The analysis covers various dimensions, including economic growth, social impacts, and the nuanced interplay between migration and regional development. The paper highlights the diverse experiences of these countries, emphasizing the need for tailored and context-specific policies to address challenges and maximize opportunities. With a keen eye on repatriation trends, the study underscores the pivotal role of inclusive policies and socio-economic frameworks in shaping a sustainable and dynamic future for Eastern Europe. By recognizing migration as a catalyst for both source and destination countries, the research contributes to a deeper understanding of its implications on the socioeconomic dynamics of the region. The conclusions drawn emphasize the importance of embracing diversity, fostering inclusive growth, and promoting social cohesion to cultivate a prosperous and resilient Eastern European landscape. ]]>

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<![CDATA[ Exploring the Impact of Digital Platforms on Publishing: A Bibliometric Analysis ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0299</guid>

<![CDATA[ Platformization is a phenomenon arising from the process of digitalization and affects businesses of all types throughout the world. While platformization closely relates to digital business models, it also influences the traditional models to some extent, concerning the marketing and distribution functions. This paper focuses on the implications of the new media on the generation, dissemination, and reception of content in publishing. Specifically, the study examines the effects and implications of the platformization processes, and the role played by digital ecosystems in the value chain of the publishing business and the structures of the book market. For the current study, the research carries out a network analysis of scholarly literature on the integration of digital platforms in publishing using VOSviewer. It declared to provide an understanding of the field’s conceptual directions, determine key articles, and depict the developmental process of this phenomenon. The paper contributes to the understanding of the primary discourses; the literature review reveals the research gaps and potential development. The contribution of this research shall be useful for both theorists and practitioners in the field. It can help practitioners analyze the current processes in the publishing industry’s transition to digital formats and inform policy decisions. It can also help small and medium companies within creative industries that possess characteristics that are akin to publishing and other businesses clustered within the book market niche category. Given that current trends and potential directions for development and innovation in today’s rapidly developing digital environment are traced and practical recommendations and further research questions are outlined in this study, it helps to get a detailed understanding of how platformization in the context of the publishing industry is addressed in the academic literature. ]]>

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<![CDATA[ The spillover effect between central and eastern European financial markets ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0297</guid>

<![CDATA[ This paper investigates the return and volatility spillovers between EUR/RON, EUR/HUF and EUR/PLN exchange rates and S&P500 index, but also the spillover effect between the capital markets of these three countries and this index, using the methodologies of (Diebold & Yılmaz, 2012). The paper provides both a brief description of several scientific researches conducted by numerous authors in the field of literature, and a series of empirical and econometric results that support theoretical demonstrations. The main results highlight that the spread of volatilities (spillover) intensifies during periods of economic crisis, and the main transmitter of spillover on the foreign exchange market, both in terms of returns and volatilities, is the stock market index S&P500. This paper contributes to the field of spillover studies by analyzing the connection between Romanian currency and the geographic countries neighbors. ]]>

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<![CDATA[ Digital Frontiers: Assessing the Influence and Ethical Challenges of AI in Online Marketing ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0300</guid>

<![CDATA[ In the current digital age, online marketing is a key factor in the success of companies, influencing the relationships among businesses. Artificial intelligence (AI) is leading the way in this evolution, fundamentally changing the tactics and structure of online marketing. This paper examines the major effects and ethical concerns related to incorporating AI in online marketing strategies. Starting with a summary of AI’s development and its crucial position in present-day marketing, the research emphasizes its revolutionary functions such as making decisions based on data, providing customized user experiences, and automating processes. By developing AI algorithms, marketers can analyse bigger datasets, determine patterns, and predict trends, introducing the world into a new era of marketing innovation. A central focus of AI in online marketing is its ability to deliver highly personalized experiences to consumers, driven by the analysis of users’ behaviour, preferences and historical data. This personalized approach improves user engagement and drives conversion rates. AI also empowers marketers with real-time data processing and analysis, offering valuable insights into consumer behaviour, market trends, and campaign performance. Of course, besides its transformative potential, the integration of AI in online marketing presents significant ethical considerations. Issues such as data privacy, algorithmic tendency, and transparency necessitate careful consideration to ensure responsible and ethical AI usage in marketing practices. Going through a comprehensive exploration of AI’s impact and ethical implications in online marketing, this paper aims to provide valuable insights into the evolving landscape of digital marketing and the ethical considerations essential for navigating this dynamic zone. ]]>

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<![CDATA[ Globalization and the global trending dimensions of the labor market in a challenging context: Aspects and insights ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0296</guid>

<![CDATA[ This paper presents, describes and analyzes globalization and the global trending dimensions of the labor market and business in a challenging context. The research method started with an initial literature review then it focused on data analysis, interpretation and description, the research focus as well on creating frameworks illustrated in the part of analysis to analyze and illustrate some results and ideas. The research question is “how could globalization lead the labor market to a challenging context with and within the global trending dimensions? The results showed that globalization structured the labor market and economies and extended their global dimensions by facing facts such as skills, inflation, trade options, different economic sectors and societies, wage effects and even immigration. However, it always faces the question of employment and unemployment that affect the economy and the global society since it divided the world between developed and developing economies. In conclusion, globalization has led the labor market to a challenging context with global trending dimensions, negotiations and political adjustments are important to balance social and economic needs in order to avoid a global crisis, the labor market and its trends are important for both economic and social development. ]]>

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<![CDATA[ Unleashing the potential: harnessing generative artificial intelligence for empowering model training ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0294</guid>

<![CDATA[ Recent strides in generative artificial intelligence, particularly large language models, have been propelled by foundation models – learning algorithms trained on extensive and diverse datasets encompassing various subjects. This technology, inspired by the complexity of the human brain, unveils a new frontier in generative Artificial Intelligence (AI), showing its potential in creativity by generating innovative content based on absorbed data and user prompts. It is forecasted that the conversational AI and virtual assistant segment is experiencing the highest growth rate within the contact center industry, projected to fuel a 24% increase in the market during 2024. In spite of all remarkable performances, the incipient stage of generative AI calls for a careful consideration, as technological and ethical challenges demand attention and awareness. This research delves into the base principle which empowers users to build personalized chatbots trained on your data. This stand-alone footprint can further exemplify the transformative potential of generative artificial intelligence, extending its reach beyond professionals to individuals and tremendously remodeling the landscape of chatbots. Text generation lies at the intersection of computational linguistics and artificial intelligence, forming a specialized area within natural language processing. It implies a thorough procedure where a model is trained to be able to recognize and interpret the context of specific input data, subsequently generating text that pertains to the input’s subject matter. We have identified gap areas that require in-depth research. For instance, a broader number of papers relies solely on architecture optimization, performance comparison or application-specific studies. Therefore, this paper gives a bird’s eye view of the effective algorithm flow of a traditional generative model, using Long Short-Term Memory networks – part of the recurrent neural networks part family. The purpose of the current study focuses to enrich the existing body of knowledge on how a response generation-based model operates, therefore paving the way for chatbots development and deployment. ]]>

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<![CDATA[ The Impact of Non-Reimbursable European Funds in Romania on Gross Domestic Product ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0293</guid>

<![CDATA[ The paper represents an analysis of the access to non-reimbursable European funds in Romania, at the level of January 2024. The analysis is carried out at the territorial level, in all 41 counties in Romania, to which the Municipality of Bucharest is added. In order to determine the efficiency of the use of these funds, a correlation was made between the level of the Gross Domestic Product (GDP), as the main macroeconomic aggregate that measures the level of development and the value of the non-reimbursable European funds accessed by Romania in January 2024. The correlation shows a direct and strong link between the two variables, at each county level. ]]>

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<![CDATA[ Quality, Performance, Excellence: The Harmonious Organizational Triad ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0295</guid>

<![CDATA[ The main purpose of this paper is to introduce a conceptual model of the triad Quality - Performance - Excellence (QPE); call it the Harmonious Organizational Triad. The method is qualitative, based on literature survey (secondary research), analyzing the interdependencies between these pairs of concepts (quality-performance, quality-excellence, and performance-excellence) within organizations. In this regard, an analysis of the existing literature on the concepts of quality, performance and excellence was carried out, highlighting relevant theories, models, and approaches to studying these concepts. Several studies exploring the interactions between quality and performance, quality and excellence, and performance and excellence were identified. The objective was to identify how each two concepts (i.e., quality and performance; quality and excellence; performance and excellence) are interconnected in an organizational context. Based on the literature analysis and the relationships identified between the concepts, a conceptual triadic model (QPE Triad) was developed. The QPE Triad illustrates the connections between the three concepts and their interdependencies. The implications are important for both scholars and practitioners – managers of organizations active in various industries – either goods manufacturing or service providers. ]]>

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<![CDATA[ How to Warranty the Sustainability of a Company’s Digital Transformation Base on the Case of Chi Forest ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0288</guid>

<![CDATA[ As earnings decrease and deflation occurs, companies are facing more competition. Digital transformation has emerged as a crucial strategy for companies to pursue new avenues of growth. Existing studies have explored the definition of digital transformation, the relationship between digital transformation and sustainability, and the impact of digital strategies on businesses. The study aims to investigate the drivers and processes of digital transformation towards sustainability and introduces a qualitative approach of single case study to explain the mechanisms involved. So how did we realize the research in this study? Firstly, we selected Chi Forest, a prominent beverage company, as our research subject. We then adopt an interpretivist research methodology to examine the steps behind the sustainable phenomenon of digital transformation at Chi Forest as well as the driving factors. This provides key recommendations for companies that when undergoing digital transformation, it is important to give more consideration to the steps of transformation and improve the sustainability of the transformation results. The highlight of this study is that we extend the existing steps of digital transformation by describing different transformation processes. More importantly, our study offers a comprehensive and a multi-perspective research reflection the literature on the application of digital transformation strategies, adding value to the existing research. ]]>

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<![CDATA[ Challenges of the Circular Economy: Inequality and Economic Behavior ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0070</guid>

<![CDATA[ The move towards a circular economy is a challenging journey. It has gained a lot of recognition in recent years as a sustainable alternative to traditional production and manufacturing of goods, mainly due to its potential for minimisation of waste and promotion of resource efficiency through reusability and recycling. Nevertheless, this transition it’s also met with sufficient challenges that are linked with inequality in society as well as consumer behavior. Although the circular economy model is based on the principle of extending reusability of products and materials, its implementation is often difficult in practice. In low-income communities, in particular, the access to sustainable materials or practices is proven to be difficult and it’s often linked with disparities in resource distribution. As well as inequality, consumer behavior also plays a major role in the success of implementing sustainable initiatives which are supporting the transition to a circular economy. Behavior is shaped by choices, cultural norms, economic incentives and individual preferences, which have a significant influence on how sustainable consumers are or have the potential of being. This article considers inequality and consumer behavior and underscores some of the challenges to fully transition to a circular economy. This study also seeks to identify the barriers to transition to circular economy practices and opportunities to overcome them. Through developing inclusive policies, promoting sustainable consumption, and empowering stakeholders across society, we can navigate towards a more equitable and resilient future. ]]>

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<![CDATA[ Capitalism and Governance – a Macroeconomic Overview of “Everyone’s Interest” ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0059</guid>

<![CDATA[ The macroeconomic mode of economic growth, the backward-pyramidal evolution from the capitalist structure, the emergence of the free enterprise, and the corporate form of business organizations in our system of free markets are all examined in this research. This study aims to provide insight into the particularities of the many aspects of the governance process. This study focuses on privately held businesses that are publicly held by shareholders or social part owners. It also examines the state-corporate relationship and its effects on geo-social, political, and economic spheres. ]]>

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<![CDATA[ Professional Skills of Future Accountants Working in a Digitized Environment Dominated by ERP Systems or Artificial Intelligence ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0107</guid>

<![CDATA[ The massive evolution of the digitization concept in recent years has also gained momentum among accounting professionals, as a result of the massive use of IT systems called ERP (Enterprise Resource Planning) systems. Thus, their entire activity is focused on the processing of financial-accounting data with the help of ERP (Enterprise Resource Planning) systems. The modular structure of ERP (Enterprise Resource Planning) systems can be integrated for other departments within an organization, but in this article the financial-accounting module of the ERP (Enterprise Resource Planning) system will be discussed, in order to identify the main skills of future accountants. Artificial Intelligence, and learning algorithms in particular, offer exciting opportunities to help professionals such as accountants improve their skills, the way they deliver services and the way they create value. The research method used for this article is quantitative, based on the bibliometric analysis of the digitization of the accounting profession, focusing primarily on what skills future accountants should develop. The sample of articles used for the analysis was selected from the Web of Science platform, then to be analyzed using the VOS viewer application. The results obtained indicate a significant increase in the analysis capacity of the future accountants, greatly reducing the part of manual data processing that they did manually in the past. The conclusion of the article demonstrates how much the activities of professional accountants have evolved as a result of the digitization of their activities, using ERP (Enterprise Resource Planning) systems or Artificial Intelligence. ]]>

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<![CDATA[ Socio-Economic Modelers of Environmental Performance: Empirical Evidence from the European Union ]]>

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<guid>https://sciendo.com/article/10.2478/picbe-2024-0228</guid>

<![CDATA[ The environment represents one of the main collective responsibilities of the current period, marked by accelerated economic development. In the context of increasingly pronounced ecological deterioration and less sustainable practices, the level of involvement of decision-makers and the population has become a great challenge. Beyond legislative mechanisms, which can help states improve their environmental performance, an important role is also played by knowing the direct and indirect factors that can act on this performance. The specialized literature approaches environmental performance from various angles, most studies being focused on analysis tools and how to measure it, and less on the factors that can shape it at the national level. In this context, our approach takes into account the synergies between the environmental performance at the level of the European Union member states (measured by the Environmental Performance Index - EPI) and the selected economic-social factors. The selected sample includes the 27 member states of the European Union, the analysis being carried out for the period 2006-2022. The research methodology is based on Bayesian network analysis through Gaussian graphical models. The obtained results show that environmental performance is closely related to economic and social factors, through positive or negative connections, the relationship being bidirectional. Our approach is thus intended to be useful in providing a series of information to support decision-makers both in the implementation of environmental policy at the European level and in the adjustment of some national regulations. ]]>

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