IDEAS home Printed from https://ideas.repec.org/a/wly/sustdv/v34y2026i2p1734-1754.html

Benefit Corporations and B‐Corps: A State‐of‐the‐Art Review Through Bibliometric and Content Analyses

Author

Listed:
  • Laura Ferraro
  • Franco Ernesto Rubino
  • Giovanna Crocco
  • Eleonora De Luca

Abstract

Sustainable practices and shareholder value often come into conflict, yet Benefit Corporations (BCs) and B‐Corps combine these goals into a single core mission. While previous literature reviews exist, this study offers a current, cross‐disciplinary perspective, highlighting the strengths and critical aspects of BCs and B‐Corps through bibliometric and manual content analyses. A dataset of 114 peer‐reviewed articles from the Scopus and Web of Science databases, published between 2006 and 2024, was identified. The bibliometric analysis revealed that research is geographically concentrated, with the United States and Italy leading due to their first‐mover status in the BC legislation and B‐Corp movements. This, in turn, has concentrated authorship and affiliations within these two countries. Content analysis identified four main themes related to BCs and B‐Corps: (i) mission, governance, and financial performance; (ii) stakeholder engagement; (iii) sustainable business models versus greenwashing; (iv) contributions to the Sustainable Development Goals. By synthesizing fragmented insights into a validated framework, this research advances understanding in this niche area and exposes the main gaps in existing literature. It also suggests clear directions for future research and offers practical guidance for BC and B‐Corp leaders, investors, and policymakers on governance, transparency, and performance metrics that promote both profit and positive societal impact.

Suggested Citation

  • Laura Ferraro & Franco Ernesto Rubino & Giovanna Crocco & Eleonora De Luca, 2026. "Benefit Corporations and B‐Corps: A State‐of‐the‐Art Review Through Bibliometric and Content Analyses," Sustainable Development, John Wiley & Sons, Ltd., vol. 34(2), pages 1734-1754, April.
    • Handle: RePEc:wly:sustdv:v:34:y:2026:i:2:p:1734-1754
    DOI: 10.1002/sd.70429
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/sd.70429
    Download Restriction: no
    File URL: https://libkey.io/10.1002/sd.70429?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Donthu, Naveen & Kumar, Satish & Mukherjee, Debmalya & Pandey, Nitesh & Lim, Weng Marc, 2021. "How to conduct a bibliometric analysis: An overview and guidelines," Journal of Business Research, Elsevier, vol. 133(C), pages 285-296.
    2. Patrizia Gazzola & Daniele Grechi & Paola Ossola & Enrica Pavione, 2019. "Certified Benefit Corporations as a new way to make sustainable business: The Italian example," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1435-1445, November.
    3. Francoise Contreras & Karla Soria-Barreto & Sergio Zuniga-Jara, 2022. "Managerial support and innovative work behaviour in B corps: Examining the effect of female employee work engagement and corporate reputation," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 12(3), pages 809-831, July.
    4. Anne-Laure P. Winkler & Jill A. Brown & David L. Finegold, 2019. "Employees as Conduits for Effective Stakeholder Engagement: An Example from B Corporations," Journal of Business Ethics, Springer, vol. 160(4), pages 913-936, December.
    5. Michelle J. Stecker, 2016. "Awash in a Sea of Confusion: Benefit Corporations, Social Enterprise, and the Fear of “Greenwashing”," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(2), pages 373-381, April.
    6. Jeffery S. McMullen & Benjamin J. Warnick, 2016. "Should We Require Every New Venture to Be a Hybrid Organization?," Journal of Management Studies, Wiley Blackwell, vol. 53(4), pages 630-662, June.
    7. N. Craig Smith & David Rönnegard, 2016. "Shareholder Primacy, Corporate Social Responsibility, and the Role of Business Schools," Journal of Business Ethics, Springer, vol. 134(3), pages 463-478, March.
    8. Grimes, Matthew G. & Gehman, Joel & Cao, Ke, 2018. "Positively deviant: Identity work through B Corporation certification," Journal of Business Venturing, Elsevier, vol. 33(2), pages 130-148.
    9. Caputo, Andrea & Pizzi, Simone & Pellegrini, Massimiliano M. & Dabić, Marina, 2021. "Digitalization and business models: Where are we going? A science map of the field," Journal of Business Research, Elsevier, vol. 123(C), pages 489-501.
    10. Constanza Bianchi & Valentina Reyes & Veronica Devenin, 2020. "Consumer motivations to purchase from benefit corporations (B Corps)," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1445-1453, May.
    11. Lorenzo Ardito & Rosa Maria Dangelico & Antonio Messeni Petruzzelli, 2021. "The link between female representation in the boards of directors and corporate social responsibility: Evidence from B corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 704-720, March.
    12. David Moher & Alessandro Liberati & Jennifer Tetzlaff & Douglas G Altman & The PRISMA Group, 2009. "Preferred Reporting Items for Systematic Reviews and Meta-Analyses: The PRISMA Statement," PLOS Medicine, Public Library of Science, vol. 6(7), pages 1-6, July.
    13. Giorgio Mion & Cristian R. Loza Adaui, 2020. "Understanding the purpose of benefit corporations: an empirical study on the Italian case," International Journal of Corporate Social Responsibility, Springer, vol. 5(1), pages 1-15, December.
    14. Maiara Marcon & Taís Provensi & Simone Sehnem & Lucila M. S. Campos & Adriane Angelica Farias Santos Lopes Queiroz, 2023. "The internalisation of the circular economy and ESG in Brazilian B Corps from the perspective of the Stakeholder Theory," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(5), pages 3513-3527, October.
    15. Moroz, Peter W. & Gamble, Edward N., 2021. "Business model innovation as a window into adaptive tensions: Five paths on the B Corp journey," Journal of Business Research, Elsevier, vol. 125(C), pages 672-683.
    16. Janine Hiller, 2013. "The Benefit Corporation and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 118(2), pages 287-301, December.
    17. Sigurdsson, Valdimar & Larsen, Nils Magne & Folwarczny, Michał & Sigurdardottir, Freyja Thoroddsen & Menon, R.G. Vishnu & Fagerstrøm, Asle, 2024. "Big business returns on B Corp? Growing with green & lean as any label is a good label," Journal of Business Research, Elsevier, vol. 170(C).
    18. United Nations UN, 2015. "Transforming our World: the 2030 Agenda for Sustainable Development," Working Papers id:7559, eSocialSciences.
    19. Alice Pennesi & Marco Giuliani, 2025. "Social Media and Sustainability Reporting: A Literature Review," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(5), pages 7314-7335, October.
    20. Giorgia Nigri & Mara Del Baldo & Armando Agulini, 2020. "Governance and accountability models in Italian certified benefit corporations," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2368-2380, September.
    21. Evropi‐Sofia Dalampira & Stefanos A. Nastis, 2020. "Mapping Sustainable Development Goals: A network analysis framework," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(1), pages 46-55, January.
    22. Chaoyuan She & Giovanna Michelon, 2023. "A governance approach to stakeholder engagement in sustainable enterprises—Evidence from B Corps," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5487-5505, December.
    23. Dilek Cetindamar, 2018. "Designed by law: Purpose, accountability, and transparency at benefit corporations," Cogent Business & Management, Taylor & Francis Journals, vol. 5(1), pages 1423787-142, January.
    24. Valerie Paelman & Philippe Van Cauwenberge & Heidi Vander Bauwhede, 2023. "Mission alignment with employees and financiers: Probing into the workings of B Corp certification," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1632-1644, July.
    25. Pasquale Latella & Stefania Veltri, 2024. "The drivers of nonfinancial disclosure quality: A systematic literature review analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(6), pages 5524-5542, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ronald Weber Kirst & Miriam Borchardt & Maurício Nunes Macedo de Carvalho & Giancarlo Medeiros Pereira, 2021. "Best of the world or better for the world? A systematic literature review on benefit corporations and certified B corporations contribution to sustainable development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1822-1839, November.
    2. Silvia Cantele & Chiara Leardini & Luca Piubello Orsini, 2023. "Impactful B Corps: A configurational approach of organizational factors leading to high sustainability performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1104-1120, May.
    3. Roberto De Luca & Maria Rosaria Sessa & Benedetta Esposito & Ornella Malandrino, 2025. "How certified benefit corporations contribute to corporate social responsibility disclosure: Empirical evidence from Italy," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 1668-1687, March.
    4. Giorgio Mion & Cristian R. Loza Adaui, 2020. "Understanding the purpose of benefit corporations: an empirical study on the Italian case," International Journal of Corporate Social Responsibility, Springer, vol. 5(1), pages 1-15, December.
    5. Giorgio Mion & Cristian Rolando Loza Adaui & Angelo Bonfanti, 2021. "Characterizing the mission statements of benefit corporations: Empirical evidence from Italy," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2160-2172, May.
    6. Giorgio Mion, 2020. "Organizations with Impact? A Study on Italian Benefit Corporations Reporting Practices and Reporting Quality," Sustainability, MDPI, vol. 12(21), pages 1-21, October.
    7. Silvia Blasi & Silvia Rita Sedita, 2022. "Mapping the emergence of a new organisational form: An exploration of the intellectual structure of the B Corp research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(1), pages 107-123, January.
    8. Silvia Blasi & Silvia Rita Sedita, 2019. "Mapping the emergence of a new research field: an exploration of the intellectual structure of the B Corp research," "Marco Fanno" Working Papers 0236, Dipartimento di Scienze Economiche "Marco Fanno".
    9. Thilo Pollmeier & Christian Fisch & Mirko Hirschmann, 2026. "From profit to purpose: a systematic literature review and future research directions on B Corp certification," Management Review Quarterly, Springer, vol. 76(1), pages 841-884, February.
    10. Patrizia Gazzola & Stefano Amelio & Daniele Grechi & Chiara Alleruzzo, 2022. "Culture and sustainable development: The role of merger and acquisition in Italian B Corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1546-1559, September.
    11. Iluminada Fuertes‐Fuertes & J. David Cabedo & José Miguel Tirado‐Beltrán, 2024. "How do hybrid organisations use socio‐environmental impact information? An exploratory analysis in European B corps," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 9181-9196, December.
    12. Mara Del Baldo & Federica Palazzi, 2023. "High-Growth Benefit Corporations: Leveraging on Intangibles—Insights from Italy," Sustainability, MDPI, vol. 15(14), pages 1-20, July.
    13. Yeuseung Kim, 2021. "Certified corporate social responsibility? The current state of certified and decertified B Corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1760-1768, November.
    14. Giovanna Attanasio & Cinzia Battistella & Elia Chizzolini, 2025. "B‐Corp Certification: Systematic Literature Review and Research Agenda," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 3729-3769, May.
    15. Daniel Alonso‐Martínez & Nuria González‐Álvarez, 2024. "A bibliometric analysis of B Corps and sustainable business ecosystems," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(6), pages 6019-6043, November.
    16. Antonio Prencipe & Danilo Boffa & Christian Corsi, 2025. "Sustainability‐Oriented Businesses and Earnings Management. What Is the True Relationship? Evidence From Italian Benefit Corporations," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(4), pages 4671-4689, July.
    17. Moroz, Peter W. & Branzei, Oana & Parker, Simon C. & Gamble, Edward N., 2018. "Imprinting with purpose: Prosocial opportunities and B Corp certification," Journal of Business Venturing, Elsevier, vol. 33(2), pages 117-129.
    18. Elsa Diez-Busto & Lidia Sanchez-Ruiz & Ana Fernandez-Laviada, 2021. "The B Corp Movement: A Systematic Literature Review," Sustainability, MDPI, vol. 13(5), pages 1-17, February.
    19. Leonardo Boni & Veronica Chiodo & Francesco Gerli & Laura Toschi, 2024. "Do prosocial‐certified companies walk the talk? An analysis of B Corps' contributions to Sustainable Development Goals," Business Strategy and the Environment, Wiley Blackwell, vol. 33(3), pages 2518-2532, March.
    20. Blanche Segrestin & Armand Hatchuel & Kevin Levillain, 2021. "When the Law Distinguishes Between the Enterprise and the Corporation: The Case of the New French Law on Corporate Purpose," Journal of Business Ethics, Springer, vol. 171(1), pages 1-13, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:sustdv:v:34:y:2026:i:2:p:1734-1754. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-1719 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.