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A systematic literature review towards a conceptual framework for integrating sustainability performance into business

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Abstract

Several publications approach the subject of corporate sustainability performance, considering this background, the present research conducts a systematic literature review based on 261 papers towards a conceptual framework for integrating sustainability performance into business. Moreover, it aims at structuring the literature on corporate sustainability performance to highlight its main contributions and gaps. Data analysis initiates with a descriptive statistics of the sample, including yearly distribution, main journals, and most cited papers. It is followed by the delimitation of each sustainability performance approach of measurement, management and reporting and the cross analysis among them. Finally, a conceptual framework is proposed to address the integration of sustainability performance into business. This framework is composed by three levels. The first represents the principles for corporate sustainability to guide decision-making driven by collective values. The second level includes the core sustainable business elements, which are processes and practices, capabilities, offerings and contributions to sustainable development. At the third level, the context factors represent the internal and external aspects that affect the previous levels.

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... In recent years, there has been significant interest in the adoption and use of the United Nations Sustainable Development Goals (UN SDGs) as a means to shape organizational responsibilities and practice (Hopper, 2019;Lodhia et al., 2022;Martinuzzi and Schönherr, 2019;Morioka and de Carvalho, 2016;Powell and McGuigan, 2024;Thoradeniya et al., 2021). However, measuring and managing the UN SDGs is difficult at an organizational level, because the targets defined by the UN were designed to suit a national/political level of analysis and are difficult to relate to the individual performance of entities (Lodhia et al., 2022). ...
... This has led to a "wicked problem" in how organizations can or potentially should engage with the SDGs to accomplish them, resulting in severe gaps between the potentially transformative aspirations of the UN sustainable development agenda and its ultimate realization (Del Río Castro et al., 2021;Mansell et al., 2020;Schönherr and Martinuzzi, 2019). Specifically, the nature of the way that some organizations operate hinders their ability to map the SDGs to their current activities (Walsh et al., 2020), or incorporate them into organizational strategy and control systems Montiel et al., 2021;Morioka and de Carvalho, 2016;Walsh et al., 2020). This is compounded by doubts over the veracity of the information used to measure, manage and report on achieving the UN SDGs, especially because non-financial information is unregulated and non-standardized (KPMG, 2018;Lodhia et al., 2022;Mansell et al., 2020). ...
... To accomplish these results, it is necessary to translate the country-level SDGs into concrete actions for companies (Mansell et al., 2020;Montiel et al., 2021), using MCS, that are able to measure sustainability performance (Morioka and de Carvalho, 2016). However, this, besides being a challenging issue in its own right, constitutes a difficult task in establishing management solutions that integrate sustainability into core business strategy in a systematic way (Gond et al., 2012;Morioka and de Carvalho, 2016;Parisi, 2013). ...
Article
Purpose The purpose of this paper is to examine the technical, social and moral aspects of accounting through the implementation of a novel balanced scorecard (BSC) that addresses the United Nations Sustainable Development Goal (UN SDG) 6 – Clean Water and Sanitation – within the Portuguese water utilities sector. Design/methodology/approach A novel research design is adopted, using actor network theory (ANT) as a broad approach to frame the study. ANT emphasizes the importance of ever-evolving networks of relationships and how concepts such as the BSC are just as important in structuring social practice. A set of expert interviews was conducted with stakeholders in the water utilities sector in Portugal, which led to the iterative development of a context-relevant BSC proposal and associated indicators. Findings A novel BSC architecture to achieve UN SDG 6 is proposed through a unique engagement between professionals and academics. The BSC, and the specific definition of indicators for an entire sector (water), contribute to bridging business processes with the common good to improve life and planetary conditions. Ultimately, the study discusses how the technical aspects of accounting can be enhanced to achieve social and moral imperatives. The paper also reflects on the limitations of broadening existing technical practices. Originality/value There is a burgeoning literature on how organizations are engaging with the UN SDG agenda. However, there is a dearth of studies on how management control systems are currently addressing, or can potentially contribute to measuring and managing specific UN SDGs such as Clean Water and Sanitation. This study makes a unique contribution to the literature by developing a novel BSC solution to SDG 6 measurement and management using a novel practitioner-led approach. Ultimately, our study highlights how accounting can be broadened to enhance technical practices while also serving a moral and social purpose.
... As shown in Fig. 8, the proposed framework is built on three foundational pillars: the principles governing green financial markets, the integration of green finance into sustainable infrastructure, and the contextual factors influencing its effectiveness. Building on the foundational work of Morioka and de Carvalho [23], this tripartite framework is specially tailored for the infrastructure sector. This adaptation provides a comprehensive understanding of how green finance facilitates the achievement of sustainability goals in infrastructure projects. ...
... First, similar to other review studies employing PRISMA methodology, the main drawbacks of this paper stem from the research method and the scope of the field examined. A key methodological challenge, as noted by Morioka and de Carvalho [23], arises from the inherent trade-off between the breadth of study base and the depth of analysis achievable within the chosen samples. In addition, this paper describes the whole population of papers on financing sustainable infrastructure based on a selected sample of studies. ...
Article
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Financing and investing in sustainable infrastructure play a pivotal role in achieving the United Nations Sustainable Development Goals, particularly considering their multifaceted benefits to the environment, society, and economy. This systematic literature review applies the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology to explore the financing and investment aspects of sustainable infrastructure. With support of a comprehensive collection of 4,308 publications dated from 2009 to 2023, we analyse various types of sustainable infrastructure and their investment and financing strategies by employing bibliometric analysis on 74 most closely related journal articles in a network approach setting. Results show the growing significance of green finance as a central research theme and a prevailing trend within this domain. Drawing upon these findings, we propose a conceptual framework for the integration of green finance into sustainable infrastructure development, offering insights to policy makers and guide future research agendas aimed at advancing green finance in infrastructure sectors.
... Organisations that engage in sustainable performance management can identify the training needs of managers so that they can become leaders who are committed to sustainability and thus achieve organisational goals in relation to responsible production or consumption; climate action; clean water and sanitation; the enhancement of the sustainability of cities and communities; and promoting good health and wellbeing (Montiel et al., 2021). When it is implemented correctly, sustainable performance management provides managers with insights into how to develop the appropriate green competencies among employees and motivate them to act in environmentally responsible ways in order to drive environmental performance (Dumont et al., 2017;Morioka & de Carvalho, 2016). ...
... Finally, a manager who engages in sustainable performance management is able to gain a thorough understanding of whether their organisation is attaining its goals through HR, particularly goals related to climate action, as exemplified by Morioka and de Carvalho (2016). Moreover, the indicators provide managers with insights into the effectiveness of their organisation's environmental sustainability strategies, including its HRM strategy. ...
Chapter
This study investigates how GHRM facilitates sustainable performance management. Specifically, the study investigates the role of specific GHRM activities on responsible production/consumption, climate action, clear water/sanitation, and sustainable cities. Drawing on secondary literature, the ability, motivation, and opportunity (AMO) model of HRM and the United Nations sustainability development goals (SDG) framework, the study suggests that GHRM can bolster sustainable performance management and thus lead to the attainment of responsible production/consumption, climate action, clear water/sanitation, and sustainable cities. The study extends the GHRM literature by uncovering how the SDG framework and the AMO model can interact to facilitate the development and deployment of green skills and bolster the attainment of the environmental dimension of SDGs through green leadership. The practical implications of the findings were discussed.
... Vários estudos relevantes sobre relatórios de sustentabilidade foram conduzidos por especialistas ao redor do mundo, abordando os fatores e níveis de adoção, bem como os efeitos positivos e negativos gerados por eles (Abhayawansa;Adams, 2021;Unerman, 2018;Unerman, 2020;Izzo et al., 2020;Lloret, 2016;Morioka;de Carvalho, 2016;Nicolò et al., 2022;Thijssens et al., 2016). ...
... Vários estudos relevantes sobre relatórios de sustentabilidade foram conduzidos por especialistas ao redor do mundo, abordando os fatores e níveis de adoção, bem como os efeitos positivos e negativos gerados por eles (Abhayawansa;Adams, 2021;Unerman, 2018;Unerman, 2020;Izzo et al., 2020;Lloret, 2016;Morioka;de Carvalho, 2016;Nicolò et al., 2022;Thijssens et al., 2016). ...
Article
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Neste artigo, realizamos uma pesquisa com o objetivo de analisar, avaliar e compreender de maneira abrangente os múltiplos aspectos relacionados à dimensão Ambiental (ambiental), Social (social) e Governança (governança corporativa) em empresas sediadas na região da América Latina. Quanto ao método, classifica-se como um estudo documental, qualitativo e descritivo. A coleta foi realizada no relatório avanços e desafios da gestão corporativa em aspectos de ESG na América Latina de 5.200 empresas sediadas em 52 países. Para garantir a robustez das informações coletadas, foram utilizadas várias fontes de dados, incluindo relatórios anuais, relatórios integrados, relatórios de sustentabilidade e informações disponíveis online. Destaca-se que os relatórios analisados abrangem o período de julho de 2019 a junho de 2020. A análise abrangente dos dados, conduzida por meio da técnicas de análise proporcionou insights importantes sobre a divulgação de práticas sustentáveis nas empresas da norma denominada N100. Um resultado notável revelado por esse estudo foi que o Relatório GRI (Global Reporting Iniciative) foi amplamente utilizado, com uma impressionante taxa de adoção de 95% entre as empresas. Essa alta taxa de uso ressalta a crescente importância da divulgação por meio de relatórios de sustentabilidade como uma prática essencial para as empresas. Esses resultados demonstram o reconhecimento generalizado da necessidade de comunicar de forma transparente os impactos sociais e ambientais, ressaltando o compromisso das organizações em direção a uma abordagem mais sustentável. Palavras-Chave: Responsabilidade social corporativa (RSC), Relatórios de environmental social and governance (ESG), América Latina. Abstract: In this research study, we carried out an extensive and detailed investigation with the goal to analyze, evaluate and comprehend in a vast way the multiple aspects related to the Environment (environment), Social (social) and Governance (corporate governance) in companies based in the Latin America region. In terms of the method it is classified as a documentary study, qualitative and descriptive. The data collection was carried out in the report “Advances and challenges in the corporate management in aspects of ESG in Latin America in the period of September 2021 from 5.200 companies based in 52 countries. To secure the strength of the information collected, various sources were used, including annual reports, integrated reporting, sustainability reports and information available online. It’s emphasized that the reports analyzed cover the period from July 2019 to June 2020. Extensive data analysis, conducted through content analysis techniques, provided significant insights about the diffusion of sustainable practices in N100 companies. A remarkable result revealed by this study was that the GRI Report was widely used, with an impressive 95% donation fee among the 2.668 verified companies. This high usage rate emphasizes the growing value of exposure through sustainability reports as an essential practice for companies. It exhibits the widespread recognition of the need to communicate transparently about the social and environmental impacts, reinforcing the organizations’ commitment towards a more sustainable approach. Keywords: Corporate social responsibility (CSR), Environmental reports, social and governance (ESG), Latin America.
... It is argued that businesses cannot improve their performance without measuring sustainability, i.e., "you cannot manage what you do not measure" (Morioka & Carvalho, 2016). Therefore, SE's SPM has become an essential focus, which includes the integration of sustainable practices in their standard operations, ensuring transparency and responsibility (Bocken & Short, 2021;Sikdar, 2003) for various stakeholders, leading to: RQ 2 : How can a composite social enterprise sustainability performance sustainability index be developed? ...
Article
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Social enterprises (SEs) are instrumental in achieving the Sustainable Development Goals (SDGs) by addressing persistent social, environmental, and economic challenges. However, the lack of validated frameworks to measure SE sustainability limits their ability to measure and strengthen their sustainable performance, which further hinders the capacity to drive transformative change as intended by the SDGs. Hence, this study aims to develop and validate a multidimensional scale for measuring the sustainability performance of SEs, enabling them to realise their potential and enhance their contributions to the SDGs. This study utilized (Churchill, 1979) three-phase methodology to develop and validate sustainability performance measurement scale for SEs. Phase 1 identified sustainability-related items through a literature review and qualitative analysis, finalized by an expert panel. Phase 2 refined these items using exploratory factor analysis (EFA) on 149 SEs (sample 1) data. Phase 3 validated the structure with confirmatory factor analysis (CFA) on data from 435 SEs (sample 2). The final scale included 36 items across five dimensions: social, economic, environmental, political, and governance, subject to the validity and reliability of the newly developed scale. Reliability was confirmed, with Cronbach's alpha exceeding 0.7 for all dimensions. Convergent validity was supported by AVE scores above 50 %, while HTMT ratios below 0.85 established discriminant validity. This research significantly contributes to the literature on SE sustainability by providing a validated performance measurement tool, which enables SEs to optimize their operations, strengthen their impact, and contribute more effectively to the SDGs.
... The results of the hypothesis test indicate that the business performance has a signifi cant eff ect on business sustainability. Improvisation capability signifi cantly impacts innovation capability, as demonstrated by research (Morioka and de Carvalho, 2016), which indicates that enhancing sustainability performance can improve business sustainability. This involves integrating sustainability into business practices, which supports the development of Small and Medium Medical (SMM) companies and provides them with a competitive edge. ...
Article
The purpose of this study is to investigate how small and medium-sized medical (SMM) businesses might improve their performance and long-term viability by utilizing innovation, improvisation, and creativity. The research employed a purposive sample of 403 managers and owners of small- and medium-sized health clinics, medical equipment suppliers, and diagnostic laboratories across the country, using a quantitative approach. The data were analyzed using structural equation modeling with a multi-group analysis. The results indicate that spirituality significantly and positively moderates the relationships between creativity, improvisation, business performance, and innovation capability. Furthermore, creativity has a positive influence on business performance, improvisation, and innovation. Improvisational skills are shown to greatly affect both innovation capacity and business performance. Additionally, innovation competence in SMM businesses positively influences business performance, which in turn enhances sustainability. Since the data were gathered only in Indonesia, future studies are encouraged to replicate this research in other countries to validate the proposed theoretical model. These insights provide a fresh understanding of the connections between spirituality, creativity, improvisation, innovation, business performance, and sustainability, enriching existing literature and offering a foundation for future research on SMM enterprises.
... Our study protocols were rigorously constructed based on high-impact review articles (Islam 2021;Morioka and de Carvalho 2016) and the structured Population, Intervention, Comparison, Outcome (PICO) strategy (Carpenter and Wilson 2022). This methodology enables a comprehensive examination of existing evidence, allowing us to explore entrepreneurship strategies and interventions relevant to our research. ...
Article
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Small and medium enterprises (SMEs) are the effective economic engines of most developing countries. Unfortunately, due to resource constraints, the failure rate of SMEs is relatively high, prompting scholars and practitioners to explore potential solutions. Here, the collaboration between SMEs and non-government organizations (NGOs), supported and guided by governments , can play a strategic role in overcoming resource constraints and promoting sustainable growth. Islamic NGOs can provide Sharia-based financial support, capacity building, and mentorship to SMEs, especially those owned by Muslim entrepreneurs. Therefore, the goal of this study is to establish a conceptual framework for strategic collaboration between SMEs, conventional NGOs, Islamic NGOs, and governments, with the aim of promoting sustainable growth. A rigorous PICO-based SLR identified 112 relevant articles. In-depth analysis using thematic and content approaches, alongside the ADO framework, ensured a robust foundation for the proposed conceptual model. The implementation of methodical procedures further enhanced the rigor of the analysis, ensuring both reliability and validity. The study has devised a strategic collaboration paradigm for the sustainable growth of SMEs, considering the functions of both conventional and Islamic NGOs. This paradigm encompasses innovative financial options, technology transfer, and innovation, value sharing in the supply chain, capacity building and skill development, as well as stakeholder engagement. The results also highlight how important it is for government regulations and policies to be effective from a Helix viewpoint in order to guarantee the long-term success of SMEs. Additionally, the obtained model has the potential to advance SDG 13 (climate action) and SDG 17 (partnerships for the goals) by fostering cross-sector collaborations among SMEs and other important stakeholders.
... Through the provision of training and collaboration with professionals who specialize in innovation and creative training, firms may provide the groundwork for innovation in business management. Meetings like this also have a major impact on networking inside the industry, which boosts the flow of new ideas and developments (Morioka & Carvalho, 2016). Improved resilience and the ability to recover from future crises can be achieved with this. ...
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In today's volatile and cutthroat business environment, companies must overcome a myriad of economic, financial, and social challenges in order to provide consumers with exceptional value. A company's ability to sustain service quality and the elements that contribute to its improvement is crucial, since businesses in this sector face higher levels of vulnerability and competition than other sectors. Looking at things from several aspects, this research shows how company performance and associated issues are viewed from a broad perspective, which has real-world consequences for everyone involved. The researchers drew on previous research that had already shown how many creative techniques and aspects affected company success. Both academics and practitioners can benefit from the study's recommendations and suggestions.
... However, WoS is widely regarded as the standard and most extensively used tool to generate citation data for scientific research, including over 12,000 high-impact academic journals worldwide (Bagdi et al. 2023;Meho and Yang 2007). Further, in most other systematic reviews in BMA domains, both Scopus and WoS databases are widely used for bibliometric and systematic literature evaluation due to comprehensive citation indexes, availability of high-quality papers, and the wide range of publications (Chaudhuri et al. 2023;Christofi et al. 2017;Kumar Kar and Harichandan 2022;Morioka and de Carvalho 2016;Zhang et al. 2020). Therefore, both Scopus and WoS databases were used in this study since this inclusion minimizes the exclusion of related MSD articles in the considered sample. ...
Article
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Modern slavery is a serious social issue, and the International Labour Organization estimates 49.6 million modern slavery victims worldwide. Consequently, globally, numerous reporting legislations have been introduced to eradicate modern slavery enforcing organizations’ modern slavery disclosure (MSD) practices. These enforcements require organizations to be transparent, and accountable for modern slavery risks in their operations and supply chains, making them crucial in the global fight against modern slavery. The purpose of this study is to review the research on the MSD practice that has gained substantial attention with growing interests of governments, industries, and policymakers. Using PRISMA protocol approach, this study reviews 48 MSD research published throughout 2016–2023 in Scopus and Web of Science databases. Furthermore, a bibliometric analysis strategy complemented with thematic content analysis was used to offer comprehensive future research agendas. The findings cover significant elements in the MSD literature, including countries, journals, authors, articles, and topics. Additionally, employing bibliographic coupling of the research articles derived 4 MSD knowledge clusters: (1) modern slavery reporting legislations: social washing through symbolic compliance, (2) modern slavery nature, perceptions, and dynamics on current regulations, (3) UK Modern Slavery Act effectiveness and determinants, (4) exploration of transparency and normativity of MSDs. This study contributes to the existing MSD literature by reflecting on the evolution of modern slavery reporting legislation and corresponding firms’ responses in the form of highlighting the primary thrust areas of MSD research. This novel review of MSD research provides strong support for identifying emerging paradigms in the MSD literature who are new to the field. Further this study offers implications for policymakers highlighting the importance of establishing oversight bodies, auditing processes, and penalties for non-compliance to ensure effective MSD practice. The study sample was limited to the Scopus and WoS databases-listed journal articles omitting other grey literature, to ensure the reliability of the results.
... The theory synthesis approach used in this study offers several advantages over a systematic literature review (Morioka & de Carvalho, 2016) or a grounded theory approach (Lumsdon & McGrath, 2011) which have also been used to develop frameworks. A theory synthesis approach enables a depth of analysis by exploring the connections between different theories and frameworks to draw new insights, an integration of both academic and practitioner perspectives, and a deep contextual understanding. ...
Article
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Current sustainability efforts, often focused solely on reporting, have not had the expected impact. This conceptual paper proposes a framework based on ethical sustainability governance and incorporates a theory of change (ToC) (Organizational Research Services [ORS], 2004), that seeks to show how organizations can move beyond reporting and embrace ethical governance to achieve sustainable outcomes for people and the planet. Unlike frameworks like ESG (environmental, social, and governance), which emphasize external metrics, our framework prioritizes ethical governance and internal drivers for measurable outcomes. The framework also integrates a ToC which informs the framework’s design by outlining the desired long-term outcomes, necessary preconditions for implementation, specific interventions, and methods for measuring progress. Drawing inspiration from diverse theories such as the triple bottom line (TBL), corporate governance, purpose-led organizations, the theory of planned behavior (TPB), dynamic capabilities theory (DCT), and stakeholder theory, our framework establishes four interconnected pillars: environmental, social, cultural, and technological. It emphasizes that ethical governance needs to be the cornerstone of good sustainability-focused action (Ehrenfeld, 2005). Finally, it emphasizes actionable implementation to increase the likelihood of tangible progress toward sustainability goals. By guiding organizations in implementing ethical governance there is a higher chance that sustainability-focused action plans can enable positive outcomes
... This approach aligns with the growing recognition of the importance of ESG factors in business decision-making and the need for a multi-dimensional assessment of corporate sustainability (Friede et al., 2015;Bagh et al., 2017). The proposed methodology provides a structured framework for companies to evaluate their ESG performance, identify areas for improvement, and develop targeted strategies to enhance their sustainability practices (Eccles et al., 2014;Morioka & de Carvalho, 2016). ...
Article
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The growing importance of global competition force companies not merely to sustain productivity and financial growth and plan for long-term competitiveness. Therefore, Environmental, Social, and Governance (ESG) principles, which guide companies in incorporating sustainability into their business practices, play a pivotal role in navigating the complexities of sustainable operations. Effective ESG performance evaluation is crucial in resolving business concerns. Accordingly, this research aims to analyze the most suitable approach to materializing and addressing ESG issues in corporate strategies. The proposed research methodology combines qualitative and quantitative analyses, including interviews, thematic analysis, and the analytical hierarchy process (AHP). The findings reveal that the Integrated Approach is the most effective strategy, with a weight of 24.1%, comprehensively balancing environmental, social, and governance priorities. The Stakeholder-Based Approach is also considered important, with a weight of 23.8%, emphasizing stakeholder engagement and collaboration. Meanwhile, the Compliance-Based Approach and the Opportunity-Based Approach exhibit lower effectiveness. This research contributes to a profound understanding of ESG performance evaluation, implementation strategies, and the role of sustainability in driving long-term business success while positively contributing to the environment and society. The limitations of the research and directions for future research are also discussed.
... Recently, the activities of organizations such as the United Nations League, UNESCO, and the EU reveal that sensitivity towards the environment is increasing on a global scale. To ensure sustainable business performance, green business ethics, and green financing practices should be prioritized, and for this purpose, sustainable use of natural resources, reduction in waste, development of recycling-oriented policies, effective use of energy, protection of the biosphere and development of carbon neutral organizations, changes in attitudes and lifestyles [70]. Activities aimed at achieving this need to be supported. ...
Article
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The purpose of this research is to understand the relationship between green business ethics, green finance, and sustainable business performance, and to evaluate the role of corporate social responsibility (CSR) in this relationship. The impact of the damage inflicted on nature’s functioning order is being felt much more strongly today. In light of these realities, companies must emphasize sustainability principles not just out of financial concerns but as a result of corporate social responsibility. In this context, focusing on the role of corporate social responsibility in sustainable business performance is the main goal of this research. Quantitative research methods, specifically the cross-sectional survey method, were employed for data collection and analysis. For this purpose, a convenience sampling method was used to select 427 white-collar employees working in industries operating in Türkiye as the sample for this study. The data collected through surveys were analyzed using the AMOS 24 statistical program. The findings underscore that green business ethics and green finance have a significant impact on corporate social responsibility and sustainable business performance. Additionally, it was determined that corporate social responsibility plays an intermediary role in shaping sustainable business performance. These findings are expected to provide an important foundation that can guide both employees and managers in developing awareness about green policies and sustainability, emphasizing the importance of green policies in working life.
... Additionally, these factors have been previously introduced, demonstrating consistency and validity in contexts similar to the studied here (Lu et al. 2016;Morioka and de Carvalho 2016;Parisi 2013). ...
Article
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The purpose of this paper is to examine the effect of Knowledge Management (KM) as a platform to enable sustainability in firms’ operations and to provide recommendations for managers to integrate sustainable operations into their business strategies. The urgency to create and implement sustainable operations in local and global firms is also argued. The conceptual framework underlying the prevalent effect of KM on sustainable practices is based on the hypothesis that KM contributes to the achievement of more suitable operations. To test this hypothesis, a model of structural equation was developed with data collected from 345 small and medium size enterprises (SMEs). Generally, the empirical evidence supported the hypothesis, indicating that KM represents an important alternative to the challenge of implementing sustainability in firms’ operations. Thus, the results of this study suggest that managers need to improve their firms’ practices, by implementing KM, as they will enable a better understanding and awareness regarding the global dangerous impacts from unsustainable operations mainly focused on sales and cost reduction. For this reason, the paper provides evidence that KM offers an alternative impulse on the quest for more sustainable operations.
... Recently, the activities of organizations such as the United Nations League, UNESCO and the EU reveal that sensitivity towards the environment is increasing on a global scale. To ensure 13 sustainable business performance, green business ethics and green financing practices should be prioritized, and for this purpose, sustainable use of natural resources, reduction of waste, development of recycling-oriented policies, effective use of energy, protection of the biosphere and development of carbon neutral organizations, changes in attitudes and lifestyles (Haseeb et al., 2019;Morioka and Carvalho, 2016). Activities aimed at achieving this need to be supported. ...
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Full-text available
The purpose of this research is to understand the relationship between green business ethics, green finance, and sustainable business performance, and to evaluate the role of corporate social responsibility (CSR) in this relationship. The impact of the damage inflicted on nature's functioning order is being felt much more strongly today. In light of these realities, companies are required to place greater emphasis on sustainability principles not just out of financial concerns but as a result of corporate social responsibility. In this context, focusing on the role of corporate social responsibility in sustainable business performance is the main goal of this research. Quantitative research methods, specifically the cross-sectional survey method, were employed for data collection and analysis. For this purpose, a convenience sampling method was used to select 427 white-collar employees working in industries operating in Türkiye as the sample for this study. The data collected through surveys were analyzed using the AMOS 24 statistical program. The findings underscore that green business ethics and green finance have a significant impact on corporate social responsibility and sustainable business performance. Additionally, it was determined that corporate social responsibility plays an intermediary role in shaping sustainable business performance. These findings are expected to provide an important foundation that can guide both employees and managers in developing awareness about green policies and sustainability, emphasizing the importance of green policies in the working life.
... According to Huer-tas-Valdivia et al., the Web of Science is the database with the most bibliographic data because it contains sufficient data for bibliometric analysis, is accessible, is the most relevant in science, and its datasets are more consistent, detailed, and standardized than others [16]. Others believe that Scopus contains a high-quality database and is becoming increasingly important as the number of publications increases, which is why Morioka et al. believe it is the largest database of peer-reviewed journals [22,23]. ...
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This paper establishes a comprehensive framework for evaluating the social life cycle of public services through a thorough examination of existing literature published from 2013 to 2022. The central research question is to determine how insights from this literature review can contribute to the advancement of social life cycle assessment (S-LCA) methodologies within the public sector. Methods: To address this question, we conducted a mixed-methods analysis of data sourced from the Web of Science and Scopus databases. The quantitative analysis determined the total number of S-LCA and SO-LCA papers published by main journals, and main authors. The qualitative analysis highlighted the different themes and research objectives addressed in the work relating to the S-LCA of products/services and organizations. Our findings indicate that a total of 222 papers on S-LCA were published across 94 journals. However, there is a noticeable gap in research specifically targeting public services, with most studies concentrating on products, services, and organizations. Despite the absence of direct scientific data, our study identified 17 actors, 74 impact subcategories, and 178 indicators that are potentially relevant to the S-LCA of public services. Given the unique characteristics of public services, it is imperative to develop tailored stakeholder categories, subcategories, and performance indicators for each service type. This approach will facilitate more accurate assessments of the social impacts of public services, thereby aiding both the scientific community and S-LCA practitioners in their evaluations.
... The number of articles included in the extraction phase can vary greatly from one study to another. Indeed, this number can be as low as 18 (Mohamed Shaffril et al., 2019), or as high as 172 (D'Eusanio et al., 2019).Following the process utilised byMorioka and de Carvalho (2016) as well as Wright et al. ...
Article
Purpose Even though extant research highlights the crucial role some stakeholders play in helping corporations understand, manage and mitigate the occurrence of modern slavery in their supply chains and operations, there is a fundamental lack of understanding of all the relevant stakeholder groups and the specific roles they play. By adopting a stakeholder theory approach, this study aims to identify all the key stakeholders and their associated roles towards supporting corporations’ modern slavery monitoring, detection and disclosure activities. Design/methodology/approach A systematic literature review was conducted by following the PRISMA guidelines. Relevant literature included scholarly work focusing on the identification of key stakeholders and the roles they play in enabling corporations’ modern slavery monitoring, detection and disclosure activities. Findings Nine stakeholder groups and their roles were identified, such as governments, workers, IGOs, NGOs and suppliers. Examples of performed activities include conducting audits, providing training, monitoring occurrences of modern slavery, enforcing regulations, reporting on labour issues and evaluating corporations’ modern slavery reports. Practical implications A comprehensive understanding of key stakeholders and their roles enables better collaboration towards achieving transparency within corporations’ supply chains and operations. Other stakeholders can leverage these findings to enhance modern slavery reporting activities. Social implications Clarity regarding key stakeholders and their roles may improve quality and quantity of reported modern slavery information, enhancing corporations’ public accountability. Originality/value This study adopts a stakeholder theory approach to provide a comprehensive understanding of key stakeholders and their roles in enhancing corporations’ modern slavery reporting activities.
... Hahn and Kühnen (2013) have discussed about themes around regulation, governance, quality of reporting and perception of the stakeholders. In the recent years, Morioka and de Carvalho (2016) conducted a literature analysis of 261 papers and integrated the literature on sustainability performance in a conceptual frame work. Gulenko (2018) provided an overview of potential consequences of CSR reporting and suggested that mandatory CSR reporting alters the reporting behavior of companies. ...
... Moreover, according to Huertas-Valdivia et al., the Web of Science is the database that has the most common source of bibliographic data because it contains sufficient data which are suitable for bibliometric analysis, it is accessible; it is most important in science and its records are more consistent, detailed, and standardized than others [15]. While others believe that Scopus contains a high-quality database and is becoming relevant given the increasing number of publications [21], this is why Morioka et al., think it is the largest database of peerreviewed journals [22]. ...
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Background: This study aims to develop a research framework for the Social Life Cycle Assessment (S-LCA) of public services by conducting a systematic review of existing literature from 2013 to 2022. The research question focuses on how the results of the literature review can inform the advancement of S-LCA for public services. Methods: To answer this question, a qualitative and quantitative analysis of data from the Web of Science and Scopus databases was carried out. The quantitative analysis determined the total number of S-LCA and SO-LCA papers published by main journals, and main authors. The qualitative analysis highlighted the different themes and research objectives addressed in the work relating to the S-LCA of products/services and organizations. Results: The results show that 222 papers dealing with S-LCA were published in 94 journals and revealed a scarcity of work on public services, with most papers focusing on products/services and organizations. While there is a lack of direct scientific data, the study identified 17 actors, 74 impact sub-categories, and 178 indicators that could be considered for the S-LCA of public services. Conclusions: Due to the diverse nature of public services, it is crucial to develop specific stakeholder categories, sub-categories, and performance indicators for each public service. This will support the scientific community and S-LCA practitioners in applying assessing the social impacts of public services.
... Li et al., 2023), sustainability in non-governmental organizations (Asogwa et al., 2021), and sustainability reporting and firm performance (Khan, 2022;Nyantakyi et al., 2023;Rahi et al., 2023). Some researchers added content analysis (Jain & Tripathi, 2023;Wahyuningrum et al., 2023), systematic review (Asogwa et al., 2021;Bartolacci et al., 2020;Igwe et al., 2023;Morioka & de Carvalho, 2016;Nasreen et al., 2023;Vysochan et al., 2021) and meta-analysis (Khan, 2022) in their methodology. ...
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What is the past, present and future trajectories of sustainability and firm performance? The study identified seminal works, current and future trends relevant to sustainability and firm performance. The research employed bibliometric analysis tools such as co-citation, bibliographic coupling, and co-occurrence analysis combined with enrichment tools. Utilizing a dataset that spanned from 1998 to 2023, it used Biblioshiny and analyzed 735 articles from Scopus. The research results showed a growth rate of 23 percent and an average of 37 citations per article. The research established stakeholder theory and theory of the firm as foundational pillar and latest developments focused on finance, corporate social responsibility, environmental assessment, and sustainability. Emerging trends involved sustainability performance, disclosures, internal factors, sustainability and firm performance, corporate social responsibility and governance, sustainability reporting and stakeholder engagement, and costs. Researchers and practitioners can utilize these findings to direct their work and contribute to the ongoing discourse in sustainability and firm performance research.
... Despite its advantages such as objectivity, qualitative and quantitative assessment, and data management, its application in business research is still developing (Donthu et al., 2021;Naciti et al., 2021;White and Borgholthaus, 2022). Previously, several studies have conducted systematic literature reviews and bibliometric analyses of sustainable finance but with limitations including narrow scope (Morioka and de Carvalho, 2016;Apostoaie, 2020), focus on a single journal or region (Ferreira et al., 2016;Lucarelli et al. 2020)), and overlooking contemporary research (Kumar et al., 2022). Moreover, all of these studies used single database to extract the data. ...
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Purpose This study aims to highlight the key aspects of sustainable finance using bibliometric analysis of the relevant literature extracted from two separate databases, Scopus and Dimensions.ai. The present study contributes towards the achievement of sustainable development by providing directions to align financial decision making with different sustainability aspects. Design/Methodology/Approach We conducted bibliometric analysis for 1,220 articles from Scopus and 1,437 publications from Dimensions.ai. The most frequently occurring terms in sustainable finance research are explored and visualised using the VOSviewer. Findings Bibliometric findings revealed a dynamic evolution of research focus over time. The social component dominated from 2012 to 2016, however a shift to environmental and climate change considerations is noticed from 2016 to 2020. Recent studies (2020-2022) exhibited heightened attention to green finance and renewable energy. Overlay visualizations highlighted similar trends in both the databases, indicating a contemporary emphasis on green finance. Implications Theoretical: This study enriches theoretical discourse by mapping the trajectory of sustainable finance research, contributing to a deeper understanding of its evolution. Practical: Insights from this study guide researchers and practitioners in identifying trends, this can help the integration of green finance principles into corporate strategies. Social: Findings also raise awareness among stakeholders, and help facilitate socially responsible corporate cultures and informed policymaking. Originality/Value The originality of this study lies in its comprehensive bibliometric analysis of sustainable finance research in management studies, drawing data from two major databases and spanning over three decades. Keywords: Sustainable Finance, Green Finance, Responsible Investing, Impact Investing, ESG Investing, Bibliometric Analysis.
... To conduct a systematic literature review on Islamic economics for sustainable development, a comprehensive search strategy is essential to ensure the identification of relevant studies and literature (Mensah, 2019;Morioka & de Carvalho, 2016). Firstly, databases such as PubMed, Scopus, Web of Science, and Google Scholar will be systematically searched using a combination of keywords and controlled vocabulary terms related to Islamic economics, sustainable development, and related concepts. ...
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This study explores the convergence of Islamic economics and sustainable development, with the objective of clarifying the correlation between Islamic economic principles and the achievement of sustainable development objectives. The study examines the impact of Islamic economic principles, including equality, social justice, and ethical conduct, on sustainable development results, using a thorough examination of existing literature and empirical research. The findings provide valuable theoretical insights and practical implications for policymakers, practitioners, and scholars who are interested in utilizing Islamic economics to achieve sustainable development. Methodological thoughts emphasize the significance of interdisciplinary collaboration and rigorous research procedures in furthering knowledge and practice in this subject. This research provides unique insights into the potential of Islamic economics in achieving inclusive economic growth, social equality, and environmental sustainability by combining theoretical frameworks, empirical evidence, and methodological concerns. The primary objective of this study is to provide information that can be used to make policies based on facts and to encourage discussion among all involved in order to fully realize the transformative power of Islamic economics in accomplishing sustainable development goals. Research Highlights: This research explores the intersection of Islamic economics and sustainable development, aiming to elucidate the relationship between Islamic economic principles and the attainment of sustainable development goals. Through a comprehensive review of existing literature and empirical analysis, the study investigates how Islamic economic principles, such as equity, social justice, and ethical conduct, contribute to sustainable development outcomes. The findings reveal both theoretical insights and practical implications for policymakers, practitioners, and scholars interested in leveraging Islamic economics for sustainable development. Methodological reflections underscore the importance of interdisciplinary collaboration and rigorous research methodologies in advancing knowledge and practice in this field. By synthesizing theoretical frameworks, empirical evidence, and methodological considerations, this research offers valuable insights into the potential of Islamic economics as a tool for promoting inclusive economic growth, social equity, and environmental sustainability.
... After we removed the duplicates, 98 hits remained, which were read completely and subjected to content analysis. Compared to systematic literature analyses with a relatively similar context, the number of papers found appeared to be appropriate (for example, compare Morioka and de Carvalho 2016;Aarseth et al. 2017;Lim et al. 2019;Velte 2022). The authors individually read all of the abstracts and, if needed, the entire article to screen them for relevance. ...
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The escalating demands from legislative authorities and stakeholders for companies to adopt corporate sustainability measures underscore the growing importance of strategic sustainability management. Despite the efforts made by companies in this domain, the strategic management of sustainability in family businesses remains an under-researched area. To address this gap, we conducted a systematic literature review covering the period from 2006 to 2022, on the topic of strategic sustainability management in family businesses. Our investigation encompasses a content analysis of 98 relevant studies. Our research question is: “What aspects are taken into account by family businesses in their corporate sustainability strategies?” We tackle this issue through a methodological triangulation of qualitative and quantitative methods. Our results yield three clusters of strategies for corporate sustainability in family businesses: (1) Family values and succession planning; Stakeholder relations and communication; (2) Risk taking, Inventions, and Technologies; and (3) Entrepreneurship and Intrapreneurship. In addition, we systematically present a range of descriptive indicators, including the research methodologies applied and the geographic focus of the published literature. This research contributes significant insights for scholars and practitioners alike, providing valuable guidance in this field. Moreover, our study paves the way for further investigations into the strategies that influence sustainability within the context of family businesses. By shedding light on this critical area, we aim to foster a more sustainable and informed approach to corporate practices among family-owned enterprises.
... Jan et al. (2021aJan et al. ( , 2021b suggest that corporate sustainability integrates three main aspects-economic, social, and environmental-to attain perfection. Morioka and de Carvalho (2016) indicate that Corporate Sustainability combines and aligns corporate operations concerning economic, social, and environmental aspects to attain sustainable development. The awareness of stakeholders has driven organizations to incorporate sustainability into their internal policies and strategies. ...
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This study examines the association between internal corporate governance (board size, outside directors, Shariah board size, and training of Shariah board members) and the sustainability practices of Islamic financial institutions (IFIs). The sample includes 59 IFIs listed in Africa, Europe, Asia, the Middle East, and North America over the period 2017–2021. We examine the relationship between internal corporate governance (board size, outside directors, Shariah board size, and training of Shariah board members) and sustainability practices using the ordinary least squares (OLS) method. Overall, our findings suggest that larger boards of directors and Shariah boards achieve greater sustainability. We also find a positive relationship between the training of Shariah board members and sustainability practices. Additionally, outside directors have an insignificant impact on sustainability practices. This study provides useful insights for managers and policymakers to better understand which internal governance mechanisms, especially board size, Shariah board size, and the training of Shariah board members, can best encourage a company to improve sustainable development practices.
... This finding aligns with other research that has found that company size has a considerable on sustainability performance [103][104][105], while other research has reported that, while size is an important factor, neither age nor industry sector is a determinant of performance in either ESG or CSR [106,107]. The reason for this is not fully established, though there are studies which suggest that the economies of scale that derive from size could be a significant factor in reducing environmental impact, while organisation age does not affect attitudes towards sustainability [108]. To explore RQ1 (the relationship between DT factors and innovation in sustainability), the results for H1 to H6 are discussed as follows: o Digital competence. ...
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Over the past two decades, environmental sustainability has become a key corporate and organisational issue. Today, firms are increasingly turning to existing and emerging digital technologies to help ensure that they meet the medium and long-term needs and expectations of customers and other stakeholders with respect to sustainability performance. This raises the important question of which digitisation factors most significantly impact environmental sustainability performance, as well as the mediating factor of sustainability innovation balance (the ability of a firm to balance the exploration of new innovations with the exploitation of existing innovations). A comprehensive survey instrument was developed and refined through expert feedback and a pilot study, leading to data collection from 374 professionals in the Freight and Logistics industry in Saudi Arabia, all of whom held senior positions in areas such as business development, IT, and Environmental, Social, and Governance (ESG) departments. This data was then analysed using structural equation modelling (SEM). The results of this analysis showed that the key factors impacting sustainability performance were digital competence, strategy alignment, digital adaptability, innovation exploitation and innovation exploration. These findings contribute to the current literature by expanding our understanding of the real-world drivers of sustainability performance. In practical terms, the study will help managers improve sustainability performance by enhancing resource efficiency, streamlining, and supply chain management, as well as improving employee engagement and training, fostering a culture of sustainability within the organisation.
... Sustainability performance is increasingly becoming a hot topic in the field of service industry [63,64]. Sustainability performance includes national economic growth, global environmental protection and social responsibility [65][66][67]. The research examining whether women entrepreneurship have contributed to achieving sustainability performance. ...
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The research fills the policy research gap for the women entrepreneurship and sustainability performance for examining key successful factors. Previous women entrepreneurship research fails to offer policy recommendations. The research purpose is to investigate these factors affect women entrepreneurship capabilities and sustainability performance by using SEM analysis and making policy recommendation. This research employs online and mail survey and obtains 175 women entrepreneur sample. The study finds that family support and motivation have positive effect on women entrepreneurship capabilities and sustainability performance. Barriers have no effect on performance. Hopefully, the research can provide the guidance to contribute to women’s entrepreneurship opportunities for achieving SDGs. Policy recommendation and managerial implication are discussed in the article.
... First, using the Triple Bottom line (TBl) of Elkington's (1997) sustainability performance index we contribute to the literature by providing contemporary evidence on all the dimensions of sustainable performance in Ugandan Power companies. This extends the findings of prior studies that view sustainability on either a single or two dimensions, particularly in developing countries like Uganda with limited well-structured databases (Morioka & de Carvalho, 2016;Tondolo et al., 2021). As such, this study uses perception-based approaches to evaluate all the dimensions of sustainable performance (economic, social, and environmental performance), while incorporating the perspectives of managers through self-administered questionnaires. ...
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This study examines the relationship between human capital and Sustainable Performance (SP) with the mediating role of management control systems in power companies in Uganda. The study is based on a cross-sectional research design in which pre-specified hypotheses are tested on a sample of 105 power companies in Uganda. The primary data was collected using a questionnaire from the managers of power companies. The data were analyzed using SPSS and Smart PLS. The study finds that the relationship between human capital and sustainable performance is fully mediated by MCS. The findings highlight that MCSs serve as a bridge that connects human capital to sustainable performance, thus unifying the RBV (resource-centered) perspective with the stakeholder theory (stakeholder-centered). This study complements perception-based research that provides insights into all dimensions of SP based on the triple-bottom-line approach. This study provides undiscovered empirical evidence of the mediating role of MCS on the relationship between human capital and SP and provides actionable insights for power company managers to heighten their control mechanisms and align human capital strategies to effectively drive sustainable performance outcomes. This study provides evidence-based policy recommendations for power companies to create a supportive environment where employees effectively use MCS to utilize their competencies, knowledge, and experience to meet sustainable performance goals.
... Sometimes, when companies attempt to introduce SBPs, they are confronted with ethical dilemmas and trade-offs. There are inherent trade-offs in striving for sustainability goals (Haffar & Searcy, 2017;Morioka & Carvalho, 2016). Companies often face situations where they must choose one option and forgo another, typically losing a benefit or opportunity. ...
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Sustainability has emerged as a crucial aspect in today’s business world. This study explores sustainable business practices (SBPs) in the U.S., highlighting the concept, trends, benefits, and challenges, with a focus on the construction and food industries. It argues that despite the costs and hurdles, the benefits of SBPs often outweigh these challenges. The study emphasizes the need for a strategic approach to sustainability that perceives SBPs beyond just enhancing reputation, complying with regulations, or as short-term operational improvements. It also discusses the implications of these practices and suggests directions for future research.
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This study investigates the intricate relationship between Agile Project Management Practices (APMP) and Sustainable Project Performance (SPP) within contemporary project management contexts. Drawing on principles of adaptability, iterative development, and stakeholder collaboration inherent in Agile methodologies, the research seeks to discern how these practices contribute to the achievement of sustainable project performance in project outcomes. Through a comprehensive review of existing literature, the study aims to uncover the theoretical underpinnings that connect Agile practices with sustainable project performance, considering economic, social, and environmental dimensions. Methodologically, the research employs a quantitative analysis by project practitioners. By examining real-world projects and synthesizing data from IT industry, the study aims to provide practical insights for organizations seeking to align Agile practices with sustainability goals. The findings of this research hold the potential to inform project management strategies, enhance organizational adaptability, and contribute to the broader discourse on effective methodologies for achieving sustainable project outcomes in an ever-evolving global landscape. Keywords: Agile Project Management, Sustainable Project Performance, Agile Value Creation, Innovation Capabilities, Sustainability in Project Management.
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Purpose Achieving sustainability and sustainable performance has emerged as a critical area of focus for both academic research and practice. However, this pursuit faces challenges, particularly concerning the inadequacy of supply chain information. To address this issue, our study employs the organizational information processing theory to explore how adopting blockchain technology enables firms to learn from and collaborate with their supply chain partners, ultimately facilitating their sustainable performance even in the presence of organizational inertia. Design/methodology/approach Underpinned by the organizational information processing theory and drawing data from 220 manufacturing firms in China, we use structural equation modeling to test our conceptual model. Findings Our results demonstrate that blockchain technology adoption can significantly enhance sustainable performance. Furthermore, supply chain learning acts as a mediator between blockchain technology adoption and sustainable performance, while organizational inertia plays a negative moderating role between blockchain technology adoption and supply chain learning. Originality/value These findings extend the existing literature on blockchain technology adoption and supply chain management, offering novel insights into the pivotal role of blockchain in fostering supply chain learning and achieving sustainable performance. Our study provides valuable practical implications for managers seeking to leverage blockchain technology to enhance sustainability and facilitate organizational learning.
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O gerenciamento de projetos tem se consolidado como uma metodologia essencial para a gestão de empreendimentos em diversas áreas, incluindo a construção civil. Este estudo teve como objetivo avaliar o alinhamento entre a formação profissional do engenheiro civil e as demandas do mercado de trabalho em termos de gestão de projetos, cinco anos após a identificação de uma lacuna nesse alinhamento em 2018. A metodologia consistiu na análise das grades curriculares de cursos de graduação em engenharia civil no Brasil, com foco na inclusão de disciplinas de gestão de projetos. Os resultados indicam que a lacuna identificada diminuiu significativamente, a concentração regional relativa da oferta dessa disciplina foi ligeiramente reduzida e que a concentração em Instituições de Ensino Superior (IES) privadas não é mais predominante.
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The world business community is moving very strongly towards the Net Zero goal on the sustainable business journey. Vietnamese businesses cannot stand out of this race. Facing the requirements of green development and sustainable development, the business community needs to redefine its success, which now does not just lie in financial numbers, but businesses need to connect their long-term success and growth to bring sustainable benefits to the community, society and the environment. Standards of revenue, profit, shareholder benefits or financial numbers are no longer the only measure of business success, but have now expanded the ability to adapt, withstand and recover. before unprecedented formulas in money. Only when balancing the three-legged crown: economy - society - environment can businesses succeed in today's era. This study was conducted to evaluate the factors affecting the process of preparing and publishing sustainable development reports of businesses, on that basis to clarify the role of auditing in this process, from It provides recommendations to improve the quality of published information, and promote the sustainable development of businesses.
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This paper critically examines the dynamic and evolving landscape of sustainable finance, exploring the complex interrelations between key investment strategies such as Socially Responsible Investing (SRI), Environmental, Social, and Governance (ESG) investing, impact investing, and thematic investing, alongside the European Union’s Corporate Sustainability Due Diligence Directive (CSDDD). Through an extensive review of 50 scholarly articles and 25 global corporate reports, the study interrogates the conceptual ambiguities and overlapping elements inherent in these frameworks, revealing notable deficiencies in the ethical principles that underpin them. At the heart of this inquiry lies the concept of the duty of care, which compels investors to consider the broader social and environmental implications of their financial decisions. While these investment approaches purport to address pressing global challenges such as climate change and resource scarcity, the findings suggest that many of them prioritise financial returns over ethical considerations, thus compromising their potential to effect genuine change. The paper advocates for a profound re-evaluation of sustainable finance practices, calling for an ethical recalibration that transcends mere profit maximisation. As part of this reappraisal, the paper proposes a revision of the Typology of Sustainable Finance, as articulated by Schoenmaker and Schramade (2018), to embed the duty of care as a foundational principle, thereby offering a more rigorous framework for understanding and implementing sustainable finance. Moreover, the paper considers the EU CSDDD as a significant regulatory advancement, highlighting its potential to reshape corporate accountability and influence sustainable investment practices. Ultimately, this work seeks to contribute to a more coherent, ethically grounded conception of sustainable finance, one that fosters an investment culture truly reflective of social and environmental responsibility.
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A economia circular tem como objetivo gerir de forma eficiente recursos finitos enquanto regenera produtos para minimizar os impactos ambientais. As instituições públicas, influentes no preço e disponibilidade de bens/serviços, representam uma oportunidade-chave para promover a circularidade e as instituições públicas de ensino superior, centradas no ensino, na pesquisa e na extensão, podem liderar o avanço das práticas circulares, mas enfrentam barreiras. Este estudo avalia sua adaptabilidade às práticas circulares, examinando a incorporação de princípios da economia circular e identificando ajustes necessários. Ao realizar um estudo de caso dentro de uma instituição pública de ensino superior, analisamos dados, incluindo o Plano de Desenvolvimento Institucional e regulamentos de compras de 2019 a 2023, avaliando aspectos organizacionais e individuais, metas e resultados alcançados nas compras públicas da instituição.
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Pazarlama Alanında Yapay Zeka ile İlgili Yapılan Yayınların Bibliyometrik Analiz ile incelenmesini içermektedir.
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Environmental sustainability is currently of paramount importance worldwide. In this context, digitalisation has emerged as a transformative force in the business world, and small and medium‐sized enterprises (SMEs) need to adapt to sustainability and digitalisation without neglecting performance. The objective of the study is to establish the connection between the positive financial outcomes resulting from digital capabilities and the ability of SMEs to become environmentally sustainable. Additionally, a theoretical framework has been developed to explain the results from the analysis of a reflexive structural equation model using data collected from 975 Spanish SMEs. The results indicate that investing in digitalisation allows companies to become more environmentally responsible and achieve qualitative growth in terms of reputation. Furthermore, digitalisation promotes quantitative growth through improved efficiency, cost savings, enhanced product quality and increased customer satisfaction. Lastly, the study model demonstrates that profitable companies are more likely to be sustainable.
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Developing solutions to sustainability challenges requires cooperation among various stakeholders, including organizations that compete at the same time. Prior studies investigate the barriers, drivers, outcomes and tensions of coopetition among sustainable entrepreneurs. In this paper, we consider the coopetition both among sustainable entrepreneurs and between sustainable entrepreneurs and incumbents. Based on interviews with 23 key stakeholders from the New Zealand alternative protein industry, our findings confirm that value alignment plays an important role in determining firms' openness to coopetition and misalignment can hinder coopetitive relationships. However, value misalignment can be mitigated in situations where sustainable entrepreneurs demonstrate high sustainability orientation, allowing for coopetition between sustainable entrepreneurs and incumbents. Finally, coopetition with incumbents enables sustainable entrepreneurs to support sustainable development. Overall, these findings suggest that coopetition is an important yet complex strategy for sustainable entrepreneurs. The findings provide several contributions to the literature regarding sustainable entrepreneurship and coopetition.
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For many organizations, digital transformation and sustainability are often viewed as separate paradigms. Recent research has explored the potential impacts of digital initiatives and sustainable solutions and recognized the interrelationship between digital transformation and sustainability. To shed light on the convergence of digital transformation and sustainability, this chapter conducted a comparative literature review to identify key dimensions of digital transformation and sustainability frameworks. Among the identified dimensions, six dimensions, including Strategy and Vision, Innovation, Technology, People, Organization, and Ecosystem and Partnership, were identified as the common themes. They also lay out a solid foundation for further exploring the 'digital sustainability paradigm'.
Article
Purpose This literature review aims to present the thematic and intellectual structure of sustainability in banking literature. Design/methodology/approach A systematic literature review and manual content analysis of 158 studies from the Web of Science and Scopus databases has been conducted. Findings The study reveals three major themes: conceptualization of sustainability, measurement of sustainability performance and communication of sustainability. The review provides future research directions regarding the quality of reporting, the contribution of sustainable banking toward achieving sustainable development goals, the use of primary data for analyzing sustainable banking initiatives and distinctions in the concepts of sustainability in banking. Originality/value Since the beginning of the century, the literature on sustainability in banking has been prolific but heterogeneous and fragmented. Reviews have been restricted to niche areas. This review addresses the lack of a unifying paradigm for sustainability in banking literature.
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Purpose The purpose of this study is to explore green innovation and its role in driving competitiveness in Ecuadorian manufacturing firms, focusing on structural equation modelings, which account for more than 90% of the productive units and aggregate national income. The manufacturing sector in Ecuador reports variable growth since the start of the COVID pandemic, drawing more attention from practitioners, regulators and scholars alike, due to its distinctive footprint on people, profit and planet, particularly in the context of developing economies. Design/methodology/approach A model with two second-order constructs is developed and tested in a sample of 325 managers from manufacturing firms in Ecuador, using quantitative and cross-section methods. Findings After obtaining adjusted and validated metrics, a structural equation model is presented, where the main hypothesis is confirmed, supporting the positive impact of green innovation on competitiveness. Practical implications The research provides evidence on how manufacturing firms favoring green innovation in their long-term planning can unlock and sustain competitiveness. Policymakers could then offer incentives for firms to embed sustainable practices, with potential ripple effects along the supply chain, aggregating up competitiveness to industry and national levels. Originality/value The study aims to bridge the existing knowledge gap on the interplay of green innovation and competitiveness, claiming that the former significantly influences the latter, in an emerging market context, with incremental gains for all stakeholders, as posited by stakeholder theory.
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Corporate Sustainability has garnered increasing attention within the business community, as corporates communicate to influence its stakeholders for building sustainable relationships. There has been a surge in research exploring its connection to firm performance but, existing studies lack a cohesive and concentrated approach. This study employs scientometric and bibliometric methods to analyse scientific production which signals a scarcity of research from developing countries, indicating a need for greater investigation. Focussing on specific subfields of Corporate Sustainability and Firm Performance, we analyze and narrow down the scope of our study to a focussed sample. Employing use of structured methods and PRISMA Protocol, this scientifically rigorous study, points towards identification of research themes linking sustainability practices to firm performance for achieving business excellence. It goes beyond mapping of literature, thereby establishing linkages to Sustainable Development Goals (SDGs). Our analysis reveals clusters centered on Environmental Performance, Firm Performance, Corporate Sustainability Reporting, Corporate Social Performance and Green Supply Chain Management with significant citations related to various SDGs. We make use of time series analysis to determine the future trends of research in the field. This scientometric and bibliometric analysis study contributes to a more focused understanding of the linkages between corporate sustainability and firm performance, emphasizing the need for cohesive research approaches to address the complexities of sustainable business practices and their implications for financial performance and the economy.
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Purpose Researchers and practitioners have recently been interested in corporate sustainability performance (CSP). However, knowledge on measuring CSP is limited. Many CSP-measurements are eclectic, without guidance for contextual applications. This paper aims to develop a conceptual framework that categorizes, explains and evaluates measurements based on their accuracy and precision and provides a guideline for their context-specific application. Design/methodology/approach The authors conducted a systematic literature review of an initial sample of 1,415 papers. Findings The final sample of 74 papers suggested four measurement categories: isolated indicators, indicator frameworks, Sustainability Balanced Scorecards (SBSC) and Sustainability Performance Measurement Systems (SPMS). The analysis reveals that isolated indicators are inaccurate and imprecise, limiting their application to organizations with delimited, specific measurements of parts of CSP due to the risk of a GIGO-effect (i.e. low-quality input will always produce low-quality output). CSP-indicator frameworks are imprecise but accurate, making them applicable to organizations that handle a more significant amount of CSP data. They have a risk of greensplashing, i.e. many indicators not connected to the industry, organization or strategy. In contrast, SBSCs are precise but inaccurate and valuable for organizations desiring a comprehensive strategic management tool with limited capacity to handle sustainability issues. They pose a risk of the streetlight effect, where organisations do not measure relevant indicators but what is easy to measure. Originality/value The ideal CSP-measurement was identified as SPMSs, which are both precise and accurate. SPMSs are useful for organizations with complex, comprehensive, connected and tailored indicators but are methodologically challenging.
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Sustainability is not a new topic, but it is on the agenda, particularly as it is increasingly discussed in forums, conferences, articles and academic dissertations. The number of scientific journals in the environmental, social and sustainability fields is growing all the time, as are specialised courses in the area. It is therefore clear that the topic of sustainability is not only important for companies and citizens, but also for the planet we live on, particularly the parts that make it up. The aim of this study is to find out whether Portuguese companies are active in the field of sustainability and whether they publicise it and, if so, how. The aim is to ascertain what sustainability actions, measures or strategies are undertaken by companies. Also, if sustainability information is produced, what formats or means of communicating information are used, including quantitative and qualitative information. Finally, we want to find out whether the companies are concerned about minimising the social and environmental impacts that their business activity can have on the environment. A sample of 16 Portuguese companies listed on the PSI of the Portuguese Stock Exchange as at 3rd April 2024 was selected to achieve the research objectives. The study is based on a quantitative and qualitative approach. The technique used was a double investigation: on the one hand, their annual reports and websites were analysed, and, on the other hand, a questionnaire was sent out via email which was answered using the google forms platform. The results show that companies use sustainability strategically in the medium and long term, and therefore consider the impacts of their activities on the environment, which is why the majority also believe it to be an essential issue in the eyes of the stakeholders who interact with them. It was concluded that sustainability is a relevant issue for this sample, given that companies produce more internal information than external information, and disclose sustainability information in autonomous reports or together with the annual report and accounts, rather than in so-called sustainability reports. It should also be noted that most of the information produced is more qualitative than quantitative. In this case, it needs a standard to ensure comparability. However, more studies are needed to prove the capacity for understanding, reporting and practising sustainability actions outside this sample and in other parts of the world.
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This study aims to investigate the relationship between sharia governance and sustainability performance in the Indonesian Islamic banking industry. Sharia governance is measured by the sharia supervisory board (SSB) score and the individual attributes of its members (size, number of meetings, educational background, and diversity). Sustainability performance (SP) is proxied by its economic, environmental, and social dimensions, as defined by the Global Reporting Initiative (GRI) framework. Secondary data from 2010—2020 company reports are used and analyzed using manual content analysis. Panel data regression is also employed to test the hypotheses and identify which individual attributes of the SSB influence sustainability performance. The results show that the SSB has a positive and significant effect on Indonesia’s overall SP of Islamic banking. Among the individual attributes, the frequency of SSB meetings has a positive and significant effect on overall SP, while the diversity of SSB members negatively affects economic and social SP. Meanwhile, SSB member’s size and educational background do not affect overall SP. The findings are expected to enhance understanding of Islamic bank’s development and approaches to addressing sustainability-related issues of Islamic bank. This study also contributes as consideration in the improvement of standard practices or the current implementation of sharia governance in Indonesia and to promote sustainable operations through Islamic corporate governance.
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This paper analyzes the effect of systems to manage environmental aspects on environmental performance at individual polluting facilities. Regulated polluting facilities are increasingly embracing pollution minimization strategies that involve the adoption of broadly defined systems to manage environmental aspects. Despite a meaningful empirical literature, whether or not these systems lead to better environmental performance remains an open question. This study seeks to assess the possible connection between systems to manage environmental aspects and improved environmental performance. It also seeks to identify the factors determining the extent of the adopted system of management and the factors' direct effects on environmental performance. For this empirical analysis, the study examines the extent of systems to manage environmental aspects employed by and the level of wastewater discharged by U. S. chemical manufacturing facilities during 2001.
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Ce texte aborde la mesure du développement durable dans le cadre de la gestion des services d'eau et d'assainissement. Fruit de l'analyse d'un cas approfondi sur lequel les auteurs ont fait une recherche-intervention, l'article aborde à la fois la substance des indicateurs élaborés et les caractéristiques du processus de négociation. Construire un indicateur, c'est faire le choix de rendre visibles certains phénomènes et donc d'en invisibiliser d'autres, en fonction d'une logique d'action et de compromis sociaux qu'il convient de décrypter.
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Purpose: Environmental performance and propensity disclosure is important for stakeholders to estimate firms’ incentives in environmental management practices. The purpose of this article is to explore the impacts of environmental performance and propensity disclosure on financial performance using unbalanced panel data of eight heavy-pollution industries in China. Design/methodology/approach: Environmental performance and propensity exhibits mutual causality relationship with Tobin’s Q value using unit root and co-integration test of panel data. Using panel data analysis, we take the impacts of environmental performance and propensity disclosure on financial performance from 2008 to 2012. Findings: Environmental performance has a significantly negative impact on Tobin’s Q value at the significance levels of 1%, while environmental propensity has a significantly positive effect on Tobin’s Q value at the significance levels of 5%. Firm size, financial leverage and return of assets have significantly positive impacts on financial performance at the significance levels of 1%. Meanwhile the effect of corporate environmental performance and propensity on financial performance has a significantly periodic difference from 2008 to 2012. Research limitations/implications: Those results are helpful for environmental regulators to evaluate the implementing effect of voluntary environmental policy and for firms’ managers to increase market expectation and improve financial performance. Originality/value: Environmental performance is estimated by 30 environmental indicators in eight heavy-pollution industries in China. Environmental performance and propensity disclosure has a U-typed relationship with financial performance.
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Inconsistent findings have resulted from studies of the relationships among social disclosure, social performance, and economic performance of U.S. corporations. No clear tendency can be detected. The main reasons for these inconsistencies are: (a) a lack in theory, (b) inappropriate definition of key terms, and (c) deficiencies in the empirical data bases currently available. Suggestions are made as to how this situation can be improved.
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The social report is a tool with which Social Disclosure can be attempted. However, it may become merely a communication of the fulfilment of a series of requirements. From this perspective, this study seeks to verify, with reference to the Italian Mutual Banks, whether the intensity of Social Disclosure (SD) is indeed representative of social responsibility. The aim is therefore twofold: on the one hand, the intention is to estimate the intensity of SD by measuring the extent to which the social reports of a sample of 57 mutual banks comply with GRI guidelines; and on the other, to test the relationship between social-environmental and financial performance and the intensity of SD. The analysis shows that SD intensity is closely linked to the quality of social reports. Some categories, such as corporate identity, membership and community, exhibit high levels of disclosure whilst for other categories, like the environment, there is a lack of a coherent and unitary plan. Moreover, the degree of SD intensity does not appear to be completely represented into actual social-environmental performance and this confirms the shortcomings of the use of SD as a proxy for Corporate Social Performance.
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This study aims to test a new conceptual model based on the relationship between quality management (QM), environmental management maturity (EMM), adoption of external practices of green supply chain management (GSCM) (green purchasing and collaboration with customers) and green performance (GP) with data from 95 Brazilian firms with ISO 14001. To our knowledge, such links and relationships are not simultaneously identified and tested in the literature. The results indicate the validation of all of the research hypotheses. This paper highlights that an improvement in green performance will require attention to quality management, environmental management maturity, and green supply chain.
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For many water supply companies, the sustainable exploitation of water resources has always been an integral part of their business, voluntarily accepting tasks and responsibility which benefit society and the environment in general, e.g. in resource protection, environmental monitoring, and encouragement of sustainable farming practices. However, these voluntary activities are often not sufficiently recognised internally and externally due to a missing sustainability framework and a less developed communication strategy. Therefore, a comprehensive framework for the measurement and reporting of corporate responsibility (CR) in water supply was developed, comprising the environmental and sustainability issues of resource protection and water supply, social responsibility and long-term economical development. This framework was successfully applied in a Balanced Scorecard (BSC) approach and served as basis for a CR report of a German regional water and wastewater company. The CR Performance Indicator system was imbedded in the IWA framework of Performance Indicators (PI), and as such is universally applicable in water and wastewater systems.
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Corporations can respond to expectations for socially responsible processes and outcomes in organizationally integrated ways or in easily decoupled fashion. This study focused on a particular type of socially responsible organizational process: formal corporate ethics programs. Theory suggests that external pressures for social performance encourage easily decoupled processes but that top management commitments can encourage both easily decoupled and integrated processes. Analysis of survey and archival data generally supported this position. Implications for social performance research, practice, and public policy are discussed.
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In this paper we examine the status of the research concerning Corporate Social Responsibility (CSR) and sustainability in the management literature. Specifically, we investigate the special issues dedicated to CSR and sustainability published in the CSR-specific, as well as general management and international business journals since 2009. Our review indicates that the majority of the identified special issues have been publicized in the CSR-specific journals; however, few dedicated volumes in the core management journals seem to signal an increased interest in CSR topics among these journals. The variety of topics in the identified special issues can be categorized into two groups: one concentrating on the contemporary corporations as agents of change in modern societies; and the other endeavouring to explicate the infiltration of responsibility-related values through corporate organizational structures and functions. A look at the recently open calls for papers suggests that scholars will continue their efforts to shed more light on the two topics. In the concluding remarks, we highlight some promising and rarely investigated in the CSR literature subjects.
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The policies and practices of corporations are shaped by their top management groups. The attitudes and values of these executives influence significantly whether or not those policies and practices are responsive to the expectations of the broader society. This article demonstrates not only a relationship between management values and corporate social responsiveness, but also that companies with strong social responsiveness generally enjoy better financial performance than their less responsive industry counterparts.
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Corporate environmental performance (CEP) has been of fundamental interest in scholarly research during the last few decades. However, there is a great deal of disagreement pertaining to the definition, conceptualization, and adequate measurement of CEP. Our study addresses these issues and provides a methodologically rigorous and comprehensive examination of content validity and construct validity. By integrating the available literature on CEP, we derive a parsimonious definition and theoretically sound framework of the focal construct. Drawing on non-aggregated and publicly available data for a sample of 706 firm-years, we test the construct validity of this framework by means of factor analysis. Our results provide evidence for the multidimensional nature of the focal construct. By contrasting our findings with existing measurement approaches in empirical research, we emphasize several deficiencies with regard to the inferences and conclusions yielded in prior research. Future empirical and practically oriented studies can build on our findings and thus provide more stringent results.
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The significant challenge of trying to simultaneously manage social, environmental and financial performance is one of the most critical challenges in the field of corporate sustainability. This paper explores how large, complex, for-profit organizations are actually integrating this challenge into decision-making and implementing sustainability. Based on field research with interviews at Nike, Procter & Gamble, The Home Depot and Nissan North America, the study specifically investigates how managers at various levels are making the trade-offs and simultaneously managing social, environmental and financial performance. We find that, while the companies' informal systems strongly promote sustainability, their formal systems seemingly have a very traditional focus on financial performance. But, the managers operating under these paradoxical systems do not believe these systems to be in conflict, and they do not perceive a high level of tension. They recognize the financial value of stakeholder reactions to social and environmental performance, and this minimizes the magnitude of the loss in a “win-lose” scenario, or, when the value of these impacts exceeds the cost of an initiative, turns it into a “win-win” scenario.
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Although much has been written about the effects of quality management (QM) and environmental management (EM) systems on firm performance, little attention has been paid to the potential influence of QM on EM. The aim of this study is to examine the joint impact of QM and EM on firm performance, and the influence of QM on EM. The population of this study is formed by 3-, 4-, and 5-star Spanish hotels. We propose a structural model considering QM and EM as formative constructs tested using partial least squares (PLS) as the statistical tool. The results show that QM and EM affect several dimensions of firm performance positively, and also that QM implementation facilitates the development of skills for EM in the hotel industry. Our findings may help hotel managers to realise that QM and EM influence some performance variables within their industry and that a real commitment to QM will promote EM and reduce its costs.
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Construction waste management (CWM) can affect society from an economic perspective, a social perspective and an environmental perspective. It is found from existing literature that scant attention has been paid to take account of the dynamics nature of the CWM system and interactions among major variables in the system when evaluating its environmental performance. Therefore, in order to fill the research gap, we develop a model for evaluating the environmental performance of CWM by using a system dynamics approach; particular focus is given to the dynamic interrelations among major variables in the CWM system and how the dynamics interactions can influence the environmental performance of CWM. The application of the proposed model is demonstrated based on a real case from the construction industry of China. The simulation results not only provide valuable information on how to improve the environmental performance of CWM in the studied project, but also help build confidence in the dynamic model in general so that it can be adopted to simulate, evaluate, and subsequently improve the environmental performance of CWM in construction projects.
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Purpose – The purpose of this paper is to analyze whether the use of current performance tools is consistent with the specific features of social enterprises. Design/methodology/approach – In a first phase, the main performance tools are divided into strategic planning tools, reporting tools and economic optimization techniques. In a second phase, 15 criteria emerge from a literature review to characterize the specific features of social enterprises. These criteria are brought together into an analytical framework, which makes it possible to analyze the relevance of each performance tool in relation to the specific features of social enterprises. Findings – What comes out of the analysis is that the tools globally fail to account for the specific features of social enterprises. That none of them met more than half of the criteria suggests the need for new performance tools based on strong theoretical bases. Research limitations/implications – Only the main performance tools are taken into account in this study. Some tools developed specifically for social enterprises might score better if they were tested in the framework. Practical implications – Managers in social enterprises often feel helpless when having to choose or develop a performance evaluation tool. This paper allows them to test whether the tools they use are well suited to social enterprises, and provides them with useful guidelines for developing new ones. Originality/value – Literature on performance evaluation for nonprofits or social enterprises mostly remains conceptual or focusses on one single tool. The author fills the gap by studying a broad range of performance evaluation tools and comparing them.
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Sustainable development has always been the top agenda of many governments. Especially, the concept of 'Ecological Civilisation (EC)' is gaining substantial attention from China's new leaders. However, regional government officers may manipulate or change top level policy in order to suit their own interests or if they are unable to meet the varied pressures of achieving the set measures. Thus, policy makers can unwittingly cause a negative or positive impact on the firms or regional development through the implementation of EC regulations and the requirement to measure, monitor and report performance measurement (PM) information. This can potentially have significant consequences for the firms, the industry sector, and China as a whole. The aim of this research is to explore and evaluate previous work focusing on the relationship and links between regulation and PM. This research will make a significant knowledge contribution to the emerging and yet important area in EC related research. A good understanding of the linkages between PM and EC will assist policy makers to better formulate suitable regulatory control mechanisms at the field level. Moreover, they may take the PM and EC linkages into consideration when setting policy frameworks by minimizing the negative effects and take advantages of the positive consequences.
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This paper explores the relation between sustainability performance and sustainability disclosure within the Australian extractive industries. The study utilizes Ullmann's (1985) stakeholder framework, which depicts sustainability disclosure and performance as two components of management strategy for dealing with stakeholder demands. Consistent with this framework, we predict a positive performance–disclosure relation. Extending prior research that has utilized problematic environmental performance indices such as CEP indices or toxic emissions levels, we develop a sustainability performance index based on the International Finance Corporation's Measuring Sustainability Framework (2001). Using data from 339 mining and energy firms listed on the Australian Securities Exchange in 2006, we find that corporate sustainability performance is strongly associated with disclosure as expected. Sustainability disclosure is also greater for firms with a proactive communication strategy as manifested through press release activity. Finally, asset age and firm size are both positively associated with sustainability, consistent with predictions from the stakeholder framework.
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The purpose of this study is to examine the relationship between financial performance and reviews—self, Global Reporting Initiative (GRI), and third party—of corporate social responsibility (CSR) reports provided by North American firms over the period from 2006 to 2012. Using data obtained from the Compustat North America and the GRI websites, the results indicate that reviews of CSR reports are significantly related to certain short and long-term measures of financial performance. In addition, for firms in particular industries; mining, chemical, and petroleum, third party review is significantly related to financial performance. Moreover, we find that the effect of sales, leverage, and growth on financial performance is influenced by CSR reviews. Conclusions drawn from this study indicate that there is a relationship between financial performance and reviews of CSR reports.
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This study aims to explore the challenges associated with implementing supplier environmental performance measurement models in context of a global supply chain. After a thorough literature review on the topic, a case study-based research methodology is adopted to investigate the real-life perspective of the issues encountered while evaluating the supplier performance in a sustainable supply chain. An in-depth study of one of the biggest fast-moving consumer goods companies in UK is discussed and analysed in this paper. Findings of this research will pave the way for developing a robust, efficient and usable environmental performance measurement framework in a supply chain.
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Numerous empirical studies have examined how voluntary environmental adoption and financial performance are related in enterprises from industrialized countries; little attention has been paid to Taiwanese enterprises. This work empirically explores how ISO14001 environmental management systems (EMS) influences the financial performance of Taiwan Stock Exchange (TSE) and over the counter (OTC) listed adopted companies in Taiwan. Based on a sample of 369 ISO14001 certified firms and 706 non-certified firms, the regression results showed that firm age and scale influence firm decisions regarding whether to acquire ISO14001 certification. Measures of profitability, productivity and Research and Development (R and D) competence do not indicate any significant differences between ISO14001 certified and non-certified companies in terms of their financial performance. Since the institutional forces such as greening supply chain pressures have become the major driver of the moves of Taiwanese firms towards more environmentally responsible operations, the estimation results demonstrate that Taiwanese firms regard the ISO14001 standard as an acceptable means of seeking legitimacy, establishing trust and long-term relationships with a wide range of stakeholders, and deflecting the scrutiny and interest of watchdog agencies and other interested parties worldwide; thus, no significant correlation exists between environmental and financial performance.
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This study explores whether corporate sustainability is a relevant factor in multi-factor asset pricing models. It contributes to finance literature on asset pricing as well as literature that examines how sustainability impacts the capital markets by constructing a new factor that captures differences in the returns of sustainable and non-sustainable firms. Specifically, it examines whether an additional sustainability factor has explanatory power in asset pricing models that include size, book-to-market equity, and momentum factors. This research has practical implications for the performance measurement of portfolios and mutual funds that are managed in accordance with sustainability criteria by disentangling general stock-picking skills from the differences in returns between sustainable and non-sustainable stocks.
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This paper aims to empirically examine the impact of environmental management on environmental performance and firm performance in Taiwanese maritime firms. Three critical environmental management dimensions were identified based on factor analysis: environmental management practices, environmental management auditing, and environmental management investment. A structural equation modelling (SEM) was performed to examine the effects of environmental management on environmental performance and firm performance. The results indicated that environmental management had significantly positive effects on environmental performance and firm performance. However, environmental performance was not found to be related to firm performance in this study.
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This study analyses how firms act with regard to social responsibility from the perspective of Stakeholder Theory. The objective is to empirically analyse the importance of communication with stakeholders for social responsibility. This involves the establishment of a structural equation model that enables analysis of the empirical relationship between firms' degree of communication with stakeholders and the effectiveness of their corporate social responsibility, measured by corporate social performance (CSP). We adopt a Bayesian approach that enables exact inferences concerning the model's parameters and handles missing data by random imputations, thus increasing the study's reliability. The results obtained from a sample of 416 Spanish organisations show the importance of interacting and establishing channels of communication with different stakeholders in order to identify their specific demands and expectations. Indeed, communication with stakeholders helps firms to improve their CSP programmes and activities. We can thus conclude that failure to establish good communication channels could have a negative effect on social responsibility. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment
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This paper explores relationships between lean manufacturing practices, environmental management (e.g., environmental management practices and environmental performance) and business performance outcomes (e.g., market and financial performance). The hypothesized relationships of this model are tested with data collected from 309 international manufacturing firms (IMSS IV) by using AMOS. The findings suggest that prior lean manufacturing experiences are positively related to environmental management practices. Environmental management practices alone are negatively related to market and financial performance. However, improved environmental performance substantially reduces the negative impact of environmental management practices on market and financial performance. The paper provides empirical evidences with large sample size that environmental management practices become an important mediating variable to resolve the conflicts between lean manufacturing and environmental performance. Additional contextual analyses suggest that differences exist in terms of the strengths and statistical significance of some of the proposed relationships. Thus, for effective implementation of environmental management, firms need to measure environmental performance through which the impact of environmental management on other business performance outcomes is examined.
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This study aims to test a new conceptual model based on the relationship between quality management (QM), environmental management maturity (EMM), adoption of external practices of green supply chain management (GSCM) (green purchasing and collaboration with customers) and green performance (GP) with data from 95 Brazilian firms with ISO 14001. To our knowledge, such links and relationships are not simultaneously identified and tested in the literature. The results indicate the validation of all of the research hypotheses. This paper highlights that an improvement in green performance will require attention to quality management, environmental management maturity, and green supply chain.