THE DIGITAL TRANSFORMATIONS AMPLIFIED BY THE NOVEL CORONAVIRUS ARE POSITIVELY IMPACTING THE TRANSITION TO GREEN ECONOMY? CASE STUDY OF ENTITIES LISTED AT BSE

Abstract

In order to be able to carry out their activity and at the same time comply with the restriction measures imposed by the governments of the world with the aim of limiting the spread of the novel coronavirus, economic entities tested their resilience and adaptability, using much more the digital technology. Whether they were prepared for this purpose or not, it seems that the pandemic caused by the novel coronavirus has amplified the digitization process. In this context, the purpose of our study is to identify whether digital transformations have impacted sustainability and the transition to a green economy. Our sample consists of the entities listed at the Bucharest Stock Exchange (BSE) that published their annual reports in the period 2019-2021. Thus, with the help of the NVivo program, we extracted the keywords found in the European Green Deal. Then, with the help of the RapidMiner program, we were able to analyze the annual reports published in the three years to identify, based on the selected keywords, the green initiatives undertaken by the entities from our sample. The results reflect the fact that, in pandemic times, annual reports present information more and more succinctly, and weaker financial results are embellished by focusing on the positive aspects undertaken, such as the efforts started in the sphere of sustainable development.