Institutional dynamics and corporate innovation: A pathway to sustainable development
Ahsan Akbar,
Muhammad Usman,
Teng Lin
Abstract:Modern corporate success is primarily reliant on a perfect balance of institutional effectiveness, innovation, and sustainability. Therefore, the primary goal of this research is to evaluate the impact of institutional frameworks on corporate innovation in developing countries. To achieve the said objective, we use firm and country data from multiple sources, and the final dataset consists of 24,166 observations from 41 developing countries during 2014–2018. For the analysis, we employ ordered probit and instr… Show more
This study aims to synthesize knowledge on the interconnections between the rule of law and environmental sustainability by reviewing existing literature across various contexts. The topic is timely and highly relevant, particularly in the context of climate change, global environmental challenges, and ongoing discourse about the role of the rule of law in promoting sustainable development. We utilized the PRISMA framework for literature search and selection, organizing it into two main themes: one investigating the direct effects of the rule of law on environmental policies and regulations, while another examining its mediated role related to financial development, foreign direct investment, trade openness, equitable resource distribution, human development, and innovation's influence on environmental quality. This review underscores the significance of clear frameworks, fair accountability mechanisms, and stakeholder engagement in preventing institutional collapse and ensuring effective environmental sustainability. A major gap identified in the existing literature is the limited exploration of specific components of both concepts, such as fundamental rights, the justice system, biodiversity, and waste management. These areas present avenues for future research. This review offers insights for policymakers to advance global environmental objectives through a better understanding of the role played by the rule of law in promoting environmental sustainability.
This study aims to synthesize knowledge on the interconnections between the rule of law and environmental sustainability by reviewing existing literature across various contexts. The topic is timely and highly relevant, particularly in the context of climate change, global environmental challenges, and ongoing discourse about the role of the rule of law in promoting sustainable development. We utilized the PRISMA framework for literature search and selection, organizing it into two main themes: one investigating the direct effects of the rule of law on environmental policies and regulations, while another examining its mediated role related to financial development, foreign direct investment, trade openness, equitable resource distribution, human development, and innovation's influence on environmental quality. This review underscores the significance of clear frameworks, fair accountability mechanisms, and stakeholder engagement in preventing institutional collapse and ensuring effective environmental sustainability. A major gap identified in the existing literature is the limited exploration of specific components of both concepts, such as fundamental rights, the justice system, biodiversity, and waste management. These areas present avenues for future research. This review offers insights for policymakers to advance global environmental objectives through a better understanding of the role played by the rule of law in promoting environmental sustainability.
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