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Special Issues
Corporate Sustainability and Firm Performance: Models, Practices and Policy Perspective
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Corporate Sustainability and Firm Performance: Models, Practices and Policy Perspective

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".

Deadline for manuscript submissions: 30 April 2024 | Viewed by 2329

Special Issue Editors

Dr. Rakesh Gupta

E-Mail Website
Guest Editor
Department of Accounting Finance and Economics, Griffith Business School, Griffith University, Brisbane, QLD 4111, Australia
Interests: emerging markets; portfolio construction; asset allocation; market integration; volatility transmission
Special Issues, Collections and Topics in MDPI journals
Dr. Shallini Taneja

E-Mail Website
Guest Editor
Center for Sustainable Development (CSD), FORE School of Management, New Delhi 110016, India
Interests: corporate social responsibility; ESG; corporate social responsibility; sustainable development

Special Issue Information

Dear Colleagues,

The world has experienced many socioeconomic and environmental challenges over the past few decades. Since the 1980s, various efforts have been made to address these challenges. The most remarkable one is the Brundtland report on ‘Our Common Future’. The report focused on the need to prioritize sustainable development in the present context to ensure that current and future generations can meet their demands. In the year 2015, the United Nations (UN) presented 17 Sustainable Development Goals (SDG) to be achieved—the Agenda 2030. The goals were set following a wide-scale consultation with various stakeholders such as governments, private firms, and academic institutions, among others. Companies are facing immense pressure to pay increasing attention to environmental, social, and governance (ESG) issues while creating value for their key stakeholders. As a result, businesses are incorporating sustainable business practices into their business models as their key stakeholders expect them to be responsible corporate citizens that create less harm to the environment. Corporate social responsibility (CSR) through community development initiatives is the primary step to build a relationship with the communities around them. To counter these challenges and building a cordial relationship, organizations are on a journey for new and improved sustainable practices to become more competitive and sensitive and create innovative business excellence frameworks in the long run. 

This Special Issue aims to contribute to informing action toward achieving corporate sustainability through innovative and solution-oriented research articles, review articles and case studies that elaborate on the linkages between sustainability and the firm performance for achieving business excellence. We call for original research on the crossroads of corporate social responsibility, ESG reporting, social performance, stakeholder management, innovative social models, and firm performance. We intend to provide new avenues to reflect and reimagine the challenges, opportunities, and sustainable outcomes of business practices in the light of the UNSDGs. Theoretical and empirical contributions, either qualitative or quantitative, are therefore welcome. 

Potential topics include but are not limited to the following: 

  • Innovative CSR and sustainability practices;
  • CSR practices and firm performance;
  • Sustainable business practices and models;
  • Barriers to adoption of sustainable business practices;
  • Drivers of sustainable business practices;
  • Sustainable business practices and firm performance;
  • Sustainable business practices and competitive advantage;
  • CSR, sustainability, and SDG’s;
  • Corporate governance for sustainable development;
  • ESG reporting and assessment;
  • ESG investing and performance;
  • Stakeholders management and sustainability. 

Submitted manuscripts should not have been published previously or be under consideration for publication elsewhere. All manuscripts are thoroughly refereed through a single-blind peer-review process. Submitted papers should be well formatted as per the Journal’s guidelines. 

Dr. Rakesh Gupta
Dr. Shallini Taneja
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • CSR disclosure
  • sustainability reporting
  • ESG
  • sustainable development
  • social performance

Published Papers (2 papers)

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Research

17 pages, 546 KiB  
Article
Corporate Social Responsibility: Impact on Firm Performance for an Emerging Economy
by Neeraj Singhal, Pinku Paul, Sunil Giri and Shallini Taneja
J. Risk Financial Manag. 2024, 17(4), 171; https://doi.org/10.3390/jrfm17040171 - 22 Apr 2024
Viewed by 437
Abstract
Corporate Social Responsibility (CSR) was usually referred to as a concept where companies initiate voluntary action towards social and environmental concerns in the context of business operations related to the stakeholders of the company prior to the CSR Act 2013 in India. Post-2013, [...] Read more.
Corporate Social Responsibility (CSR) was usually referred to as a concept where companies initiate voluntary action towards social and environmental concerns in the context of business operations related to the stakeholders of the company prior to the CSR Act 2013 in India. Post-2013, the voluntary initiative was replaced by regulatory guidelines to address social and environmental concerns. The CSR applicability–investment gap was used as a base concept in this study with instrumental theory; the study offers a strategic perspective of CSR and how organizations emphasized maximizing stakeholders’ value. In order to further investigate the effect of CSR on corporate financial performance (CFP) through the measure of shareholders’ value, i.e., the return on equity (ROE), the study used the sample from the National Stock Exchange (NSE)-Nifty-100 indexed companies of Emerging Economy—India for a span of fourteen years (2009–2023). The vast majority of research in this domain is conducted in developed countries; the research gap is filled by this study by considering India and drawing samples from multiple industries. The empirical model was developed by using panel data regression, where the dependent variable was ROE, and the independent variables were earning per share (EPS), log total income (LTI), CSR applicability/profit after tax (CRSAPPPAT), and CSR investment/profit after tax (CSRIPAT). The findings also highlighted the CSR applicability and investment of the firms during pre- and post-Sustainable Development Goal (SDG) periods. The same was also analyzed for the firms committed to CSR and not committed to CSR. The results indicated that there is no significant impact of the CSR/ESG initiatives (applicability and investment) on the ROE of the firms. The performance could be better if the companies minimize the CSR/ESG promise–performance gap through effective communication with stakeholders. Full article
(This article belongs to the Special Issue Corporate Sustainability and Firm Performance: Models, Practices and Policy Perspective)
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19 pages, 320 KiB  
Article
Unveiling the Nexus: Exploring the Impact of Corporate Governance on the Financial Performance of Acquiring Companies in the Indian Context
by Debi Prasad Satapathy, Tarun Kumar Soni and Pramod Kumar Patjoshi
J. Risk Financial Manag. 2024, 17(1), 13; https://doi.org/10.3390/jrfm17010013 - 27 Dec 2023
Viewed by 1360
Abstract
This study investigates the effect of corporate governance characteristics on the financial performance of 124 listed Indian companies that have undergone mergers and acquisitions between 2014 and 2020. It employs several performance measures, such as short-term capital market performance, long-term capital market performance, [...] Read more.
This study investigates the effect of corporate governance characteristics on the financial performance of 124 listed Indian companies that have undergone mergers and acquisitions between 2014 and 2020. It employs several performance measures, such as short-term capital market performance, long-term capital market performance, accounting- and market-based measures, and firm-level control factors. The study finds board size to be a positive and significant factor affecting short-term market performance. Furthermore, it also documents weak linkages with other corporate governance variables, such as board independence and CEO duality. Regarding control variables, leverage, company age, price-to-book ratio, and research and development expenses significantly impact acquiring companies’ financial returns. The findings add to our understanding of corporate governance’s impact on performance in cases such as mergers and acquisitions. Full article
(This article belongs to the Special Issue Corporate Sustainability and Firm Performance: Models, Practices and Policy Perspective)
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