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Corporate Governance and Sustainability in Emerging Economies: A Systematic Literature Review

In: Proceedings of the Sustainability in Emerging Economies - Integrating Business Excellence in Management Education (SEE-IBEME-2024)

Author

Listed:
  • Fiza Bhateja

    (Amity Business School, Amity University, Assistant Professor)

Abstract

The study systematically reviews literature on the relationship between corporate governance and corporate sustainability performance from 1992 to 2024 to explore how internal corporate governance mechanisms drive corporate sustainability. The review identifies sustainability development goals followed by firms as a key indicator and parameter having impact on their long-term success and better organizational performance. The key governance mechanisms aligned with sustainability objectives leading to favourable strategic decisions contribute to enhanced sustainable performance and ultimately financial outcomes as well as investor behaviour. The findings supports institutional theory, stakeholder theory and agency theory focusing on a robust governance framework for the companies that balances stakeholder interests with shareholder value and reduces agency problem by bringing effective regulations towards sustainability. Boardroom diversity, particularly board gender diversity, found to have a significant role in improving social and environmental performance. Additionally, aligning CEO compensation incentives with sustainability development goals and ensuring transparency brings positive outcomes. The review identifies significant trends and gaps in the existing research, suggesting areas for future study, including the impact of firm size, sector, and external economic conditions on corporate sustainability. The implications for researchers, policymakers, and managers underscore the need for collaborative efforts to integrate sustainability into corporate governance practices, ultimately contributing to broader societal goals.

Suggested Citation

  • Fiza Bhateja, 2025. "Corporate Governance and Sustainability in Emerging Economies: A Systematic Literature Review," Advances in Economics, Business and Management Research, in: Rohit Sindhwani & Jyotsna Bhatnagar & Ritu Srivastava & Neera Jain & Ruchi Agarwal (ed.), Proceedings of the Sustainability in Emerging Economies - Integrating Business Excellence in Management Education (SEE-IBEME-2024), pages 57-81, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-696-3_5
    DOI: 10.2991/978-94-6463-696-3_5
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