مقاله انگلیسی کدام مکانیسم های حاکمیت شرکتی داخلی باعث پایداری شرکت می شود؟
Highlights
Structured abstract
Keywords
Credit author statement
Introduction
Research background on corporate sustainability and internal corporate governance mechanisms
Methodology
Results
Discussion
Conclusion
Declaration of competing interest
References
Introduction
The corporate governance definition of the Cadbury Committee highlights value creation while stakeholders receive comparatively little attention (Crifo et al., 2019). Nevertheless, sustainable business approaches became more and more popular in recent years, and they decide whether companies will be successful in the long run (Aras and Crowther, 2008). Companies with good governance approach not only minimize the risk of being not successful in the long run by gaining sustainable performance; they additionally improve their financial performance (Munir et al., 2019), are more attractive to investors (Aras and Crowther, 2008; Kohl, 2009) and gain competitive advantages (World Business Council for Sustainable Development, 2012). Corporations influence a significant amount of people of all kinds around the world. Hence, it is crucial to create a corporate governance structure that cares about stakeholders as much as about shareholder values and enables sustainable development (Aras and Crowther, 2008; UNEPFI, 2014a). The 1992 United Nations Earth Summit in Rio de Janeiro recognized the importance of sustainability for the world by transforming the concept of sustainable development into an international guideline (Ortiz-de-Mandojana et al., 2016). Since then, many countries have adjusted their national corporate governance codes (OECD, 2019). Different environments, caused by unique cultures, economics, and jurisdictions, leave corporations’ immense scope to practice good governance (Aras and Crowther, 2008; OECD, 2019; World Business Council For Sustainable Development, 2019). As stated by the WBSCD, “it is the responsibility of companies to apply the voluntary standards to promote their own transparent and responsible business practices” (World Business Council For Sustainable Development, 2019: 9).To shed more light on the subject of good governance, this paper aims to synthesize the state of research and the options for corporations to practice an integrative sustainability approach in corporate governance.