Vol. 11, Issue 2, 2026

Summary

Board Diversity and Corporate Performance: A Romanian Case Study

  • Page: 176
  • Authors: Răzvan SZILAGYI
  • Abstract: We analyse the influence of Corporate Governance, as measured by diversity in terms of age, gender, and independence, on the financial performance of the Romanian corporates. Romanian directors have an average age of 52 years and the average age range within the boards is 25 years. Analysis confirms that age, both as a board characteristic and as a measure of separation, has a non-linear influence on financial performance. Performance is obtained when directors are in their early 50s and the age dispersion is moderate. The boards are generally not gender diversified, with the average weight of female directors at 15%. Analysis links gender diversification with lower performance, while where diversification occurs, a non-linear correlation is observed. In this case, performance is associated with moderate gender diversity. Independent directors occupy on average 51% of the board seats. We found that a higher number of independent directors has a negative influence on performance and that introducing one or two independent directors has a consistent positive result. The results for Romanian companies are generally consistent with the literature review.
  • JEL Classification: G34 – Corporate Governance
  • Keywords: corporate governance, board independence, age and gender diversity.
  • DOI: 10.24818/mer/2026.02-01
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The Impact of Strategic Use of Generative Artificial Intelligence on Firm Performance

  • Page: 193
  • Authors: Mahmood Fawzi HAMEED
    Abstract: This study investigates the impact of the strategic use of generative artificial intelligence on firm performance from a strategic management perspective. As organisations increasingly operate in dynamic and uncertain environments, generative AI has emerged as a critical tool with the potential to support strategic decision-making and enhance organisational outcomes. Drawing on strategic management and digital transformation literature, this study argues that generative AI creates value not merely through technological adoption, but through its purposeful and strategic integration into organisational processes. Using a quantitative research design, data were collected from managerial-level respondents across firms operating in management- and economics-related sectors. The proposed research model was tested using partial least squares structural equation modelling (PLS-SEM). The empirical results indicate that the strategic use of generative artificial intelligence has a positive and statistically significant effect on firm performance. These findings suggest that organisations that align generative AI initiatives with their strategic objectives are better positioned to improve decision quality, enhance responsiveness to environmental changes, and achieve superior performance outcomes. The study contributes to the strategic management literature by extending existing research on artificial intelligence beyond operational efficiency and highlighting the strategic value of generative AI. It also provides practical insights for managers seeking to leverage advanced digital technologies as strategic resources in order to
  • achieve sustainable performance advantages.
  • JEL Classification: O33, M15, L25
  • Keywords: Generative Artificial Intelligence; Strategic Management; Firm Performance; Digital Transformation; Decision-Making
  • DOI: 10.24818/mer/2026.02-02
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Global Value Chain Participation and Food Security in Sub-Saharan Africa: A Sector Analysis

  • Page: 205
  • Authors: Kouakou Martinien KOFFI, Yapo Kambo Paul Rodrigue ALLE, Kwami Ossadzifo WONYRA
  • Abstract: This article analyses the effect of participation in global value chains on food security in the region, with a focus on a sectoral analysis of value chains. Using panel data from 26 countries in sub-Saharan Africa over the period 2008-2022 and a dynamic model estimated by the two-stage GMM method, the results obtained reveal that overall participation in value chains, both upstream and downstream, has a positive and significant effect on food security as a whole. However, they do not guarantee the stability of the food supply. In contrast, sectoral value chains reduce the average protein supply, reduce the variability of per capita food supply, decrease the share of energy intake from cereals, roots, and tubers, as well as agricultural value added per worker. Based on these results, the authorities should promote trade policies aimed at strengthening integration into regional value chains while emphasising local processing of products to improve the stability of food supply.
  • JEL Classification: C33, F15, Q18J
  • Keywords: Participation in value chains, food security, dynamic panel
  • DOI: 10.24818/mer/2026.02-03
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Sustainable Urban Mobility – Insights into Research Trends and Managerial Integration

  • Page: 223
  • Authors: Marian-Gigi MIHU, Florina-Oana VIRLANUTA
  • Abstract: Against the backdrop of rising urban population density and intensifying territorial competition for investment, human capital, and technological resources, urban mobility transcends the operational sphere of transportation to become a strategic infrastructure for urban development. Pressures generated by congestion, pollution, logistical inefficiency, and institutional fragmentation necessitate the streamlining of mobility systems through integrated, sustainable, and digitalised solutions. Accordingly, this study analyses the evolution of scientific literature on urban mobility between 2015 and 2025, aiming to identify dominant thematic clusters and the extent to which the managerial dimension is integrated into the field’s conceptual framework. The results of the bibliometric analysis indicate a significant potential for theoretical development at the intersection of strategic management, urban mobility, and territorial competitiveness.
  • JEL Classification: M10, O33, Q56, R41
  • Keywords: urban mobility, smart mobility, urban management, VOSviewer
  • DOI: 10.24818/mer/2026.02-04
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The Performance of EU Member States in Terms of Industry 5.0

  • Page: 239
  • Authors: Adrian PETRE
  • Abstract: ABSTRACT Industry 5.0 has the role of addressing the fundamental limitations of Industry 4.0, its development positively influencing the competitiveness of a state by stimulating the technological innovation, human capital development, sustainability, and economic resilience. Thus, the main objective of this paper is to examine the situation of the European Union Member States in terms of Industry 5.0 degree of development and to propose possible development measures accordingly. The research methodology is based on building an indicator that measures aggregate performance on the three basic pillars of Industry 5.0: human-centricity, sustainability, and resilience, based on which the states are subsequently grouped into four performance clusters. The main results indicate high performances in the case of Denmark, Finland, and the Netherlands, while at the opposite pole is Bulgaria. The paper presents certain practical implications by proposing an index for measuring Industry 5.0 and highlighting which states have effective policies and development models, which can be considered as best practice. The paper also has some limitations, especially in terms of the number of the constituent variables of Industry 5.0 index.
  • JEL Classification: B21, O30
  • Keywords: EU Member States, Industry 5.0, human-centricity, sustainability, resilience.
  • DOI: 10.24818/mer/2026.02-05
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Effects of Behavioural Biases on Investment Decisions: A Systematic and Meta-Analysis

  • Page: 247
  • Authors: Louis TAKARUZA, Robert MWANYEPEDZA
  • Abstract: Traditional finance theories assume that investors behave rationally and make decisions based on complete information. However, empirical evidence indicates that investors are often influenced by behavioural biases that lead to deviations from rational decision-making. To get more insights on this phenomenon, the study investigated the effects of between behavioural biases and investment decisions by synthesising global empirical findings through a systematic and meta-analysis protocol (PRISMA-P). Using a set of inclusion and exclusion criterion, sixty-four studies were identified. The results revealed that in all studies, hindsight bias has a significant positive effect on investment decisions. It implies that investors who increase the perceived predictability of past events are likely to make better investment decisions. On the other hand, the disposition effect and mental accounting bias have shown a significant negative effect on investment decision, implying that the presence of mental accounting and the disposition effect makes investors to make unfavourable decisions. Overconfidence, herding, availability, anchoring, loss aversion, and risk aversion are statistically insignificant, implying limited explanatory power to influence investment decisions. The study further found no publication bias given the insignificant intercept of Egger regression. The Egger regression further demonstrated that hindsight bias has significant positive effect on effect sizes, indicating the presence of systematic moderator effect. Biases such as overconfidence, anchoring, herding, representative, disposition effect, availability, mental accounting, risk aversion, and regret aversion are statistically insignificant, indicating the absence of systematic moderator effect. The study concluded that investor behaviour cannot be fully explained by rational models, behavioural economics models play a pivotal role in explaining investor patterns. The study’s implications extend to policymakers, financial advisors, and investors, emphasising the importance of behavioural awareness and financial education in improving decision making.
  • JEL Classification: G11, D91
  • Keywords: behavioural biases, investment decisions, meta-analysis, systematic review
  • DOI: 10.24818/mer/2026.02-06
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Leadership and Organisational Transformation in the Context of Digitalisation and Sustainable Development

  • Page: 262
  • Authors: Andreea-Mihaela IONICA
  • Abstract: The contemporary organisational environment is increasingly shaped by the dual pressures of digitalisation and sustainable development, both of which require profound organisational transformation. Within this context, leadership capabilities play a critical role in guiding organisations through complex and multidimensional change processes. This study investigates the influence of leadership capabilities on organisational transformation, considering the roles of digital transformation and sustainability orientation. The research adopts a quantitative approach based on a cross-sectional survey conducted among managerial and non-managerial employees from organisations operating in Romania across mixed industries. Data were analysed using SPSS, employing reliability analysis, exploratory factor analysis, correlation analysis, and multiple regression. The findings indicate that leadership capabilities significantly influence both digital transformation and sustainability orientation, while digital transformation and sustainability orientation positively affect organisational transformation outcomes. The study contributes to the literature by integrating leadership, digitalisation, and sustainability perspectives into a unified empirical framework. The results offer theoretical and managerial implications, emphasising the importance of leadership competencies in navigating the interconnected challenges of digital and sustainable transitions.
  • JEL Classification: M10, M12, M14, O33
  • Keywords: Leadership capabilities; organisational transformation; digital transformation; sustainability orientation; digitalisation; sustainable development.
  • DOI: 10.24818/mer/2026.02-07
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The Role of Innovative Leadership in Enhancing Outstanding Human Resources Performance

  • Page: 275
  • Authors: Rania BOUDJEBIEUR, Ghozlan TELILANI
  • Abstract: This research aims to explore the role of innovative leadership in enhancing the outstanding human resources performance. To address this objective, descriptive and analytical methods were employed. Data was collected via an electronic questionnaire distributed to a sample of employees at BNP Paribas Bank across various branches in Algeria. A total of 190 valid responses were obtained and analysed using SPSS. The findings reveal that innovative leadership contributes significantly to improving the outstanding performance of human resources in several dimensions, including creativity and innovation, efficiency and productivity, professional and collaborative behaviour, as well as continuous learning and development behaviour. Moreover, innovative leadership emerges as a strategic driver for banks aspiring to strengthen their human capital and enhance competitiveness. Based on these results, several recommendations were proposed. These include developing leaders’ innovation skills, implementing supportive human resource practices, and fostering a culture that encourages experimentation, collaboration, and ongoing professional development.
  • JEL Classification: O30, M1, M12
  • Keywords: Creativity and innovation, Efficiency and productivity, innovative leadership, learning and continuous development behaviour, outstanding performance, professional and collaborative behaviour.
  • DOI: 10.24818/mer/2026.02-08
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Militants and Mitigants: A Scoping Review of Graduate Employability Discourse in Africa

  • Page: 295
  • Authors: Ishmael Obaeko IWARA
  • Abstract: This study investigates the factors militating against graduate employability in Africa and maps corresponding mitigation strategies to inform curriculum reforms and sustainable labour market integration aligned with SDG 8 (Decent Work and Economic Growth) and the African Union Agenda 2063. Following the Arksey and O’Malley (2005) five-step scoping review framework and the PRISMA-ScR guidelines (Tricco et al., 2018), a systematic search across six databases (PubMed, ProQuest, Sabinet, EBSCOhost, Google Scholar, and library assist) was conducted. Of the 381 initially identified publications, 49 published publications between 2015 and 2025 met the inclusion criteria. Qualitative data synthesis was conducted using ATLAS-ti v8 open coding software. Four principal deterrents to graduate employability were identified across Africa’s regions: skills mismatch (grounded in 13 sources), inadequate graduate competence (12), systemic failure including corruption and poor governance (9), and negative self-perception (3). These challenges persisted consistently across pre- and post- COVID-19 contexts, suggesting structural, rather than temporal causality. The study advances a continental framework linking colonial educational legacies, institutional dysfunction, and individual-level psychological barriers to graduate unemployment. It contributes to theoretical debates on human capital development, calls to decolonial education, and designing of sustainable labour market policies in the Global South. The findings call for urgent higher education curriculum reforms in African institutions, including the phasing out of redundant programmes, integration of experiential and entrepreneurial learning, strengthening university–industry partnerships, and scalable government investment in agriculture and technology sectors as viable graduate-absorbing economic pillars.
  • JEL Classification: 01;125
  • Keywords: Africa’s economy; entrepreneurial university; graduate employability; youth unemployment.
  • DOI: 10.24818/mer/2026.02-09
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From EU Funding to AI adoption: The Role of Digitalisation in Enhancing Business Performance in Europe

  • Page: 315
  • Authors: Zamfir DENISA, Baciu SILVIU-GABRIEL
  • Abstract: The rapid development of artificial intelligence (AI) in today’s business environment, as well as the opportunities offered by European digitalisation projects, have opened new directions for implementing modern solutions, helping companies to innovate, optimise, increase efficiency, and enhance their competitiveness. This paper provides an integrated overview of the main European initiatives regarding digitalisation and AI, while connecting funding programs with relevant literature on the adoption of AI in the business environment. The paper’s contribution is demonstrated by clarifying the relationship between European funding and innovation strategies that indirectly influence the adoption of AI in companies’ operational processes, while also offering a synthesised perspective on the factors driving companies’ digital transformation.
  • JEL Classification: M21, O33, R11
  • Keywords: AI adoption, business performance, EU digitalisation, European funding.
  • DOI: 10.24818/mer/2026.02-10
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From Adoption to Mastery: A Conceptual Framework for AI Integration in Academic Research

  • Page: 326
  • Authors: Bogdan NICA
  • Abstract: By 2025, over 80% of academic researchers report using generative artificial intelligence tools (Wiley, 2025; HEPI, 2025; UNESCO, 2025), yet the translation of this adoption into mature, methodologically grounded research practice has proceeded markedly slower. McKinsey’s State of AI 2025 (n = 1,993 organisations) captures the structural manifestation at the cross-sectoral level: 88% of organisations use AI, but only 1% describe deployments as mature. This paper conceptualises the structural gap between adoption and mastery – the adoption-mastery gap – as a distinct object of study in research management. The paper conducts a scoping review applying the PRISMA Extension for Scoping Reviews (PRISMA-ScR; Tricco et al., 2018), aligned with the PRISMA 2020 reporting framework (Page et al., 2021), on a curated analytical corpus of 66 sources complemented by 18 foundational theoretical and methodological anchors (88 total bibliography entries). Sources were identified through triangulated multi-agent retrieval across three independent generative search interfaces, anchored in The Lens database with verification through Crossref records and indexing status confirmed across scholarly databases (OpenAlex, The Lens, Crossref, WoS and Scopus). The paper offers four contributions: a theoretical conceptualisation of the adoption-mastery gap with the augmentation trap as its causal mechanism; a descriptive taxonomy of five mature AI-assisted research practices; a four-lever institutional framework for doctoral schools anchored in research administration literature; and a theoretical hypothesis – to be tested in subsequent empirical work – of East European structural isolation as a regional driver of the gap.
  • JEL Classification: I23, O33, M15
  • Keywords: adoption-mastery gap, augmentation trap, generative artificial intelligence, research management, scoping review
  • DOI: 10.24818/mer/2026.02-11
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Convergence between Sustainable Management and Green Marketing: A Bibliometric Analysis of Emerging Trends

  • Page: 347
  • Authors: Valentina BUTMALAI, Nicoleta CRISTACHE, Alina-Florentina SĂRACU, Andrei VIZITIU, Tiberius-Iustinian STANCIU
  • Abstract: In our contemporary world, sustainable management has become an essential pillar of central strategy of a company, especially in the context of strict regulations on ESG. This paper investigates the intersection between sustainability management and green marketing strategies, exploring how internal responsibility policies influence market competitiveness. The research uses a bibliometric analysis of metadata extracted from the international database Web of Science covering the time interval between 2022 – March 2026. The visualisation and mapping of knowledge networks are carried out using the VOSviewer software, applying keyword co-occurrence analysis techniques and cluster density visualisation.
  • JEL Classification: M14, M31, Q56, O33
  • Keywords: Sustainability Management, Green Marketing, VOSviewer, ESG, Emerging Trends.
  • DOI: 10.24818/mer/2026.02-12
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