Stakeholder expectations on sustainability performance measurement and assessment. A systematic literature review

Silva, Samanthi Luisa; Nuzum, Anne‐Katrin; Schaltegger, Stefan

doi:10.1016/j.jclepro.2019.01.203

Cited by 159 publications

(125 citation statements)

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“…This study contributes to the knowledge of non-financial impacts of companies, helping to overcome the scarce implementation of impact assessment methods [4]. This research also can be useful for professionals interested in identifying the main dimensions and their combinations, as well as possible paths to obtain high impact at the CSR level [11]. The results show how companies can balance their business activities to pursue positive financial, social and environmental contributions [8].…”

Section: Discussionmentioning

confidence: 80%

“…The research contributes positively to the academic literature and may be useful for professionals interested in the non-financial impact of companies identifying the main dimensions, as well as the possible routes to obtain a high impact at the CSR level, attending to several stakeholders' demands [11].…”

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confidence: 96%

“…Moreover, it provides useful information for strategic decisions of companies regarding how to afford impacts in all its dimensions and, then, communicate relevant results to its stakeholders. Furthermore, this methodology can also be useful to analyze the impacts in other industries certified by B Corp, and to better understand a company's behavior from the B Corp perspective.The research contributes positively to the academic literature and may be useful for professionals interested in the non-financial impact of companies identifying the main dimensions, as well as the possible routes to obtain a high impact at the CSR level, attending to several stakeholders' demands [11].This paper is structured as follows: Section 2 is a literature review on the main fields of this study, such as the concept of CSR and the strategy of companies focusing on social and environmental impacts. Thus, we analyze the concept and the main challenges of impact measurement and assessment.…”

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confidence: 97%

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Main Factors for Understanding High Impacts on CSR Dimensions in the Finance Industry

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The objective of this study is to explore empirically the dimensions that generate high impact in the finance industry to better understand its contribution from a Corporate Social Responsibility (CSR) perspective. We analyze data concerning impacts of finance sector firms certified by B Corp in order to identify the combinations that are necessary and/or sufficient to obtain a recognition of their high impact generation. The methodology followed to identify the impact dimensions is fsQCA, (fuzzy set Qualitative Comparative Analysis), a qualitative comparative analysis method applied to a sample of finance firms (n-181). The results indicate that financial sector firms exhibited four combinations focusing on different impact dimensions. Specifically, the first route indicates that a high degree of focus on customers and communities is sufficient to obtain a high impact score. The second path signals that the combination of the impacts on customers and corporate governance could lead to the same result, while in the third pathway the focus would be on the employees. Finally, the fourth route indicates that some financial firms focus strongly on their communities, corporate governance and their employees, but very weakly on the environmental dimension. Consequently, diverse combinations of CSR dimensions characterize financial sector contributions to impact generation and sustainable development.Sustainability 2020, 12, 2395 2 of 17 particular, the finance industry, related to their corporate sustainability strategies [7]. Thereby, as B Corp firms gain recognition for their high impact on their CSR dimensions, this also represents an opportunity to balance their business activities in order to pursue financial, social and environmental positive contributions [8]. Furthermore, as companies can create an impact in several ways, it is useful for academics and practitioners to analyze the different routes followed by companies in the finance sector certified as high-impact firms, showing which dimensions are relevant for firms. Moreover, to explore these dimensions, we analyze the literature concerning impacts in the finance sector, which has shown an increasing interest in CSR and sustainable development in recent years [9].Therefore, this study aims to study the necessary and/or sufficient combinations of dimensions for the finance industry, in order for them to be recognized for their high impact generation using the B Corp dimensions. The methodology followed was fuzzy-set qualitative comparative analysis (fsQCA), and we analyzed the impact of B-Corp dimensions in a sample based on financial sector firms (n=181) in the B-Corp 2018 database, which includes the scores resulting from the certification process of these firms related to the five dimensions. This exploratory study is the first study analyzing the B Corp database with the fsQCA method, which facilitates the identification of causal relationships within the results [10]. Moreover, it provides useful information for strategic decisions of companies regardin...

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Section: Discussionmentioning

confidence: 80%

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confidence: 96%

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confidence: 97%

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Main Factors for Understanding High Impacts on CSR Dimensions in the Finance Industry

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“…All authors have read and agreed to the published version of the manuscript. [14,[77][78][79][80][81][82][83] 8 Sustainability-oriented innovation, including eco-innovation [84][85][86][87][88][89][90][91] 8 Sustainable performance measurement [92][93][94][95][96][97] 6 CSR and corporate financial performance [98][99][100][101][102][103] 6 Environmental management [104][105][106][107][108] 5 Disclosure [43,56,109,110].…”

Section: Conclusion Implications and Future Researchmentioning

confidence: 99%

In Search of Sustainable Value: A Structured Literature Review

2020

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The concept of value, where shareholders are the main recipients of the created value, is changing towards more comprehensive models, which respond to the increased stakeholder awareness and urgent sustainability agenda. Hart and Milstein (2003) elaborated the widely used sustainable value concept in which they characterize temporal and spatial dimensions of value, and suggest strategic drivers for sustainability. Although the framework is highly cited, there is no review on the changes over more than ten years. In this paper, we adopted a structured literature review methodology to discover how the concept of sustainable value has been used by researchers and how it has been developed. Our findings show that sustainable value has mainly been used as the general phrase to describe positive business results instead of using it as a concept. Scholars, who make an in-depth analysis of sustainable value do not emphasize the time horizon of sustainable value as its peculiar characteristic while broad stakeholder surrounding is called to be an important feature of sustainable value. Additionally, strategic drivers for sustainability have moved from being purely environmental as in Hart and Milstein’s (2003) concept: globalization, economic fluctuations, and knowledge innovation have become as important as green technologies and carbon-reduction policies.

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“…The problems driving this research are twofold: a) the increasing importance given to the non-financial performance of organizations as a consequence of stakeholderdriven pressures for a transition to more sustainable and socially responsible business practices (Bengo et al, 2016); b) the necessity to contribute to the business case of non-financial impact created by the private sector (Silva et al, 2019) in order to foster CONTACT Jose Antonio Vicente Pascual joseantonio.vicentepascual@esic.edu the scarce implementation of social impact measurement systems in private firms (Bonilla-Alice & Fu, 2019). This is paired with the emergence of Certified B Corporations (CBCs), which are companies that use market mechanisms to answer calls to move beyond the focus on customers' and shareholders' needs through the generation of positive social and environmental impacts (Bustos B aez & Wastavino Muñoz, 2016).…”

Section: Introductionmentioning

confidence: 99%