Sustainability and Corporate Governance: Theoretical Development and Perspectives

Abstract

<p>Sustainability in the management field has several benefits including improvements in food quality competitiveness, responsibility and trust. Additionally, has been related not only to improving the image of organizations but also to increasing their value. However, this concept is multifaceted and diverse, and sometimes an incongruity appears when business leaders just want to increase their sales. Consequently, corporate governance has emerged as a topic connected to the establishment of agreements and the implementation of improvements in three dimensions: environmental, social and economic. This essay intends to explore the benefits, challenges and opportunities of sustainability and corporate governance to demonstrate the desirability of incorporating these topics into organizational management. Additionally, different models of sustainable governance are described to identify their elements and the similarities among them. We conclude that collaboration is key in all models and that it is necessary to broaden theoretical development to enable the implementation of best practices of corporate governance and to ensure sustainability.</p>

Making Organizations Sustainable Through Employee Participation: An Analysis of Factors and Their Interactions

“…Formal rules and norms are instrumental to implement sustainability in organizations [69], [101]- [103]. In order to implement and control sustainability strategies and initiatives, for instance, large companies behave responsibly to establish formal rules and norms to manage relationships with their supply chain actors [104], [105].…”

The Role of Corporate Governance in Achieving SDGs among Malaysian Companies

“…It also shows that companies are expected to reduce conflicts between stakeholders (Price, 2019). This commitment could be achieved through corporate governance practices, as the board is concern with protecting the stakeholder rights and ensuring the implementation of sustainability goals as a means to increase market value (Jaimes-Valdez & Jacobo-Hernandez, 2016). Environmental and social reporting are now some of the wide-ranging forms of voluntary reporting research that have employed the principles of stakeholder theory, highlighting that stakeholders must be provided with enough details if they are to make informed decisions (Mitchell et al, 2016).…”

Analysing the Governance Factors for Sustainability in Organisations and Their Inter-Relations

“…Among the organisation's system elements, governance has been recognised as instrumental implementing sustainability in organisations (Jaimes-Valdez and Jacobo-Hernandez, 2016;Patterson et al, 2017;Sila and Cek, 2017;Arslan and Alqatan, 2020). The majority of research on governance for sustainability in organisation has been carried on companies, under the aegis of corporate social responsibility (CSR) (see Aras and Crowther, 2008;Petrini and Pozzebon, 2010), with limited work in other types of organisations, such as civil society and PSOs (Fuente et al, 2017).…”