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Sustainable business practices and financial performance during pre- and post-SDG adoption periods: a systematic review

Author

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  • Siti Nurain Muhmad
  • Rusnah Muhamad

Abstract

The increasing awareness about sustainable development has led to growing literature in this research area. Since the adoption of Sustainable Development Goals (SDGs), companies have started to focus on the environment, people, and planet with the belief that it will lead to better financial performance. Thus, the relationship between sustainability practices and financial performance of companies has attracted much attention among researchers. This study identified the trends and issues highlighted in previous studies concerning the relationship between these two variables. Content analysis was adopted in this study to examine the literature comprising a total of 56 articles indexed in Web of Science (WoS) and Scopus. About 96% of the publications reported a positive relationship between sustainability practices and the financial performance of companies. This research area should be explored in all countries, especially developing countries, to facilitate the understanding of sustainability practices and their impact on financial performance.

Suggested Citation

  • Siti Nurain Muhmad & Rusnah Muhamad, 2021. "Sustainable business practices and financial performance during pre- and post-SDG adoption periods: a systematic review," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 11(4), pages 291-309, October.
    • Handle: RePEc:taf:jsustf:v:11:y:2021:i:4:p:291-309
    DOI: 10.1080/20430795.2020.1727724
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    Citations

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    Cited by:

    1. Javier Martínez-Falcó & Bartolomé Marco-Lajara & Eduardo Sánchez-García & Luis A. Millan-Tudela, 2023. "Sustainable Development Goals in the Business Sphere: A Bibliometric Review," Sustainability, MDPI, vol. 15(6), pages 1-20, March.
    2. Sara Picas & Pedro Reis & António Pinto & José Luís Abrantes, 2021. "Does Tax, Financial, and Government Incentives Impact Long-Term Portuguese SMEs’ Sustainable Company Performance?," Sustainability, MDPI, vol. 13(21), pages 1-16, October.
    3. Hidaya Al Lawati & Khaled Hussainey, 2022. "Does Sustainable Development Goals Disclosure Affect Corporate Financial Performance?," Sustainability, MDPI, vol. 14(13), pages 1-14, June.
    4. Isidro Pena & Silvia M. Andrade & Rosa M. Munoz & Isabel Martínez, 2023. "A grouping of the Sustainable Development Goals (SDGs) and their influence on business results: An analysis for Spanish companies," Oeconomia Copernicana, Institute of Economic Research, vol. 14(2), pages 551-583, June.
    5. Bellostas, Ana & del Río, Cristina & González-Álvarez, Karen & López-Arceiz, Francisco J., 2024. "Innovations for sustainability in the roll-out of the Sustainable Development Goals," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    6. £ukasz Ma³ys, 2023. "The approach to supply chain cooperation in the implementation of sustainable development initiatives and company’s economic performance," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(1), pages 255-286, March.
    7. María Garrido-Ruso & Beatriz Aibar-Guzmán & Albertina Paula Monteiro, 2022. "Businesses’ Role in the Fulfillment of the 2030 Agenda: A Bibliometric Analysis," Sustainability, MDPI, vol. 14(14), pages 1-35, July.

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