DOES SUSTAINABILITY IMPACT COMPANY PERFORMANCE? THE CASE OF LISTED COMPANIES ON THE BUCHAREST STOCK EXCHANGE

Society became more and more concerned about the consequences of their actions on future generations. As a result, it emerged concepts such as corporate social responsibility, shared value, sustainability etc. What all these concepts have in common is to create a balance with mutual benefits between the business community on one side and the environmental and social concerns. For a company to be successful, it should provide a supportive element for the environment, create opportunities for the community to develop, create a connection between societal and business progress. For companies that seek long-term performance either they are SME's or MNC's the old paradigm in which their contribution to society was reduced to paying wages, taxes, making investments and having as the main objective making profit for the shareholders. This business concept, supported by Milton Friedman changed, because nowadays the society's needs developed, are more diverse, and a company must focus its attention not only to those who provide capital (investors) but also to the stakeholders (clients, suppliers, community, etc.). The combined efforts of these stakeholders provide results (performance) for the company.