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Sustainable Corporate Governance and Social Responsibility

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (25 October 2023) | Viewed by 7579

Special Issue Editor


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Guest Editor
Business and Environmental Technology Economics Lab, Department of Environmental Engineering, Democritus University of Thrace, 671 00 Xanthi, Greece
Interests: corporate environmental management; corporate sustainability; corporate social responsibility; business circular economy models; environmental economics
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Corporate sustainability is a responsible business strategy to protect the financial, economic, environmental and social systems. Today, firms are held responsible not only for their financial operation but for the satisfaction of many stakeholder groups in a range of financial and non-financial issues related to the protection of the natural environment and social justice. All these concepts are now included under the concept of environmental, social and governance information (ESG).

The main aim of this Special Issue is to examine the linkage between corporate sustainability, corporate social responsibility, corporate governance and ESG. More specifically, we are interested in addressing the following main research questions:

  • How could corporate sustainability reporting (economic, environmental, social and corporate governance information) eliminate risks for stakeholders (e.g., banking sector, stoke change, investors)?
  • How can corporate sustainability management practices affect the sustainability performance of business organizations and the decisions of stakeholders?
  • How can corporate governance assist modern societies in protecting their operation?

The Special Issue also examines the linkages and integration of different aspects of corporate sustainability and stakeholder management, corporate governance and corporate social responsibility and SDGs.

In this Special Issue, original research articles and reviews are welcome. Research areas may include (but are not limited to) the following:

  • Corporate sustainability performance and corporate governance
  • Corporate Social Responsibility and SDGs
  • Corporate sustainability and ESG
  • Corporate Governance and Corporate sustainability
  • ISO 26000 and ESG
  • CSR and stakeholders
  • Corporate sustainability and stakeholder theory
  • ESG rating systems and corporate sustainability reporting
  • GRI, SASBs, Integrative Reporting and ESG information

Dr. Ioannis Nikolaou
Guest Editor

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. Sustainability is an international peer-reviewed open access semimonthly 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 2400 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

  • corporate sustainability
  • corporate social responsibility
  • corporate governance
  • ESG

Published Papers (3 papers)

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Research

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17 pages, 607 KiB  
Article
Greenwashing in Corporate Social Responsibility: A Dual-Faceted Analysis of Its Impact on Employee Trust and Identification
by Honglei Mu and Youngchan Lee
Sustainability 2023, 15(22), 15693; https://doi.org/10.3390/su152215693 - 07 Nov 2023
Cited by 2 | Viewed by 4695
Abstract
Corporate social responsibility (CSR) has emerged as a pivotal area of focus, with an increasing number of companies prioritizing its integration into their operational strategies. Nonetheless, because of the dual factors of corporate legitimacy and the pressure exerted by stakeholders, some companies use [...] Read more.
Corporate social responsibility (CSR) has emerged as a pivotal area of focus, with an increasing number of companies prioritizing its integration into their operational strategies. Nonetheless, because of the dual factors of corporate legitimacy and the pressure exerted by stakeholders, some companies use their CSR disclosures to screen positive impressions and good images, known as greenwashing. Existing literature delves deeply into the consequences of greenwashing from both consumers’ and companies’ perspectives; however, the consequences on employees remain largely unexplored. Another consideration is that greenwashing in CSR research has almost exclusively relied on a catchall CSR construct despite CSR being manifested in philanthropic CSR, business-process CSR, social alliance CSR, and value-chain CSR facets. Therefore, the purpose of this study is to explore the consequences of greenwashing in CSR on employees and to examine whether and how greenwashing across various CSR facets results in different employee responses. Partial least squares structural equation modeling (PLS-SEM) was used to analyze the structural relationships posited in our conceptual framework. By analyzing 304 employees whose companies had experience implementing CSR in China, this study found that greenwashing in primary-stakeholder-oriented CSR was negatively related to trust, and greenwashing in secondary-stakeholder-oriented CSR had a negative and significant impact on employee–company identification. Interestingly, each type of CSR greenwashing had no bearing on the other’s trust and identification. Furthermore, greenwashing in both CSR types indirectly decreases employee loyalty through the respective mediators of trust and identification. Theoretical and managerial implications are provided. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Social Responsibility)
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17 pages, 402 KiB  
Article
The Impact of a De Facto CEO on Environmental, Social, and Governance Activities and Firm Value: Evidence from Korea
by Kil-Joo Baek and Young-Jun Yeo
Sustainability 2023, 15(21), 15308; https://doi.org/10.3390/su152115308 - 26 Oct 2023
Viewed by 788
Abstract
This study analyzes the influence of CEO types on corporate governance, focusing on de facto (substantial) CEOs. We examine how substantial CEOs impact environmental, social, and governance (ESG) activities (Hypothesis 1) and corporate value (Hypothesis 2). Data were collected from KIS-VALUE and DART [...] Read more.
This study analyzes the influence of CEO types on corporate governance, focusing on de facto (substantial) CEOs. We examine how substantial CEOs impact environmental, social, and governance (ESG) activities (Hypothesis 1) and corporate value (Hypothesis 2). Data were collected from KIS-VALUE and DART (Electronic Disclosure System) from the Financial Supervisory Service, defining substantial CEOs as the highest remuneration recipients who exceed the pay of the company’s representative director. The results support Hypothesis 1, showing that companies with substantial CEOs are more likely to engage in ESG activities, potentially to improve public image while concealing self-serving behaviors. Hypothesis 2 is validated, indicating lower corporate value in companies with substantial CEOs, owing to the prioritization of personal interests over long-term profit maximization. Despite the limitations of exploring governance relationships beyond remuneration data, this study offers key contributions. It expands the research on corporate governance and ESG activities by identifying substantial CEOs through objective remuneration data. Additionally, it highlights the importance of an independent board for transparent governance and positive corporate value. Lastly, the empirical evidence shows the negative impact of misdirected ESG activities on corporate value. Using remuneration as an indicator, this study illuminates substantial CEOs’ influences on corporate value and ESG activities, providing insights for future research in this area. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Social Responsibility)
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Review

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20 pages, 317 KiB  
Review
A Drivers Framework of Organizational SDG Engagement
by Björn Mestdagh, Luc Van Liedekerke and Olivier Sempiga
Sustainability 2024, 16(1), 460; https://doi.org/10.3390/su16010460 - 04 Jan 2024
Viewed by 1417
Abstract
This paper constitutes a theoretical reflection on organizational engagement with the Sustainable Development Goals (SDGs). Despite the widespread adoption of such engagements, a precise definition and positioning of organizational SDG engagement are lacking in the literature. This gap also extends to the underlying [...] Read more.
This paper constitutes a theoretical reflection on organizational engagement with the Sustainable Development Goals (SDGs). Despite the widespread adoption of such engagements, a precise definition and positioning of organizational SDG engagement are lacking in the literature. This gap also extends to the underlying motivations driving organizations to actively engage with the SDGs. To address these, this study aims to achieve two key objectives. Firstly, it seeks to establish a foundational understanding by defining and delineating the concept of organizational SDG engagement, recognizing its distinctiveness from Corporate Sustainability (CS) and Corporate Social Responsibility (CSR). Secondly, leveraging existing literature on CS and CSR, we propose a comprehensive driver framework for organizational SDG engagement. This framework underscores morality, efficiency, and legitimacy as primary drivers. The overarching goal of this reflective paper is, therefore, to enhance the theoretical comprehension of organizational SDG engagement by applying and integrating existing literature into the conceptual framework. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Social Responsibility)
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