Corporate governance integration with sustainability: a systematic literature review

• DOI: https://doi.org/10.1108/CG-03-2018-0111
• Pages: 255-269
• Date: 22 October 2018
• Published date: 22 October 2018
• Author: Sahar E-Vahdati,Norhayah Zulkifli,Zarina Zakaria
• Subject Matter: Corporate governance,Strategy

Corporate governance integration

with sustainability: a systematic

literature review

Sahar E-Vahdati, Norhayah Zulkifli and Zarina Zakaria

Abstract

Purpose –The purpose of this paper is to systematicallyreview the literature on corporate governance

and sustainability integration in identifying the main rigidity, infirmity and gaps in the current literature,

and alsoto mention future research paths.

Design/methodology/approach –A systematic literaturereview of existing international papersis used

throughquantitative and qualitative approachby selecting 27 articles publishedin Scopus.

Findings –The review suggests although integration of governance into sust ainability is interpreted

differently in a geographical area, vision, mission and leadership are the most signi ficant drivers of

sustainability framework dealing corporate governance. Despite the limitati on which is related to

the choice of number and type of keywords and journals, outcomes and the interpr etation,

generalization and application of results, sustainability frameworks suggest a number of avenues

for investors, policy makers and future market scenario which will increase the efficiency of

companies.

Research limitations/implications –This research uses limited number of reviews by the common

features of Scopus search as previous studies. This review study reflects corporate governance to

sustainabilitymodels and provides opportunities to researchersfor a more in-depth investigationinto the

theoretical advancementand joint work of sustainability and corporate governance which better inform

strategiesand implementations of governmental structures.

Originality/value –This paper undertakes a significant thorough systematic review for sustainability

integration with corporate governance literature. It gives a written work review and reference index

from1995to 2017, useful for both academics and professionals.

Keywords Leadership, Sustainability, Mission, Corporate governance, Vision, Framework

Paper type Literature review

1. Introduction

In the twentieth century, corporate sustainability is fast becoming crucial toward

mainstream corporate activity. The skills, knowledge and sophistication involved in leading

corporate sustainability is also becoming an important part of the management decision-

making process (Windolph et al., 2014), accounting practices (Gray, 2010;Schaltegger

et al.,2006

) and reporting practices (Guidry and Patten,2010), both in corporations and the

public sector (Adams et al., 2014).

Many researchers investigated on sustainability because of its fast moving pace in

corporate activities (Zairi, 2000). Some studies focused on topics related to sustainability

(Speziale and Kloviene

˙, 2014) in specific countries (Castelo Branco and Delgado, 2011;

Guan and Noronha, 2013), whereas others took a more general stance (Hahn and Ku

¨hnen,

2013). Some reviews analyzed studies pertaining to not only sustainability but different

types of sustainability-related issues as well (e.g. taking only social and/or environmental

Sahar E-Vahdati is based at

the Faculty of Business and

Accountancy,

Perpustakaan Universiti

Malaya, Kuala Lumpur,

Malaysia. NorhayahZulkifli

and Zarina Zakaria are both

based at the Department of

Accountancy, University

Malaya, Kuala Lumpur,

Malaysia.

Received 25 August 2017

Revised 8 March 2018

17 June 2018

11 August 2018

Accepted 22 August 2018

DOI 10.1108/CG-03-2018-0111 VOL. 19 NO. 2 2019,pp. 255-269, ©Emerald Publishing Limited, ISSN1472-0701 jCORPORATE GOVERNANCE jPAGE 255