Exploring the Determinants and Effects of SDG Reporting on Corporate Performance in an Emerging Market
Abstract
The United Nations 2030 Agenda for Sustainable Development requires companies worldwide to engage with the Sustainable Development Goals (SDGs). Given the relatively recent focus on this topic, researchers noted that there is still much to learn about how SDGs are implemented within business practices and the reporting of their outcomes and impacts. Despite increased attention to non-financial information in annual reports, what drives firms to disclose SDGs remains unclear. Meanwhile, despite growing interest in SDG disclosure, the actual value market assigned to this information has yet to be determined. Hence, this paper proposes a conceptual framework to identify the determinants of SDG disclosure among Malaysian listed firms and examine its potential impact on the financial and market performance of corporations. The proposed study will also examine how industry sensitivity moderates the relationship between SDG disclosures and firm performance. Specifically, this paper provides an overview of the study's background, defines the problem statement, and reviews the current literature on social, sustainability, and SDG reporting. In doing so, it reveals the existing knowledge gaps regarding SDG reporting as non-financial information disclosed by publicly listed companies. Further, it illustrates the theoretical perspectives that explain how firm characteristics affect SDG disclosure and the impact of such reporting, leading to the formulation of hypotheses. In the context of emerging markets, the findings will provide regulatory authorities and standard-setters greater insights into the key drivers of firms' engagement with SDG disclosure. The outcome will be helpful for national regulators in assessing whether SDG reporting should be mandatory or made voluntary, considering the local context and the existing state of SDG reporting. The study is also expected to help inform listed companies in emerging economies on the potential economic justification for the commitment of effort and financial resources to engage closely with higher expectations of SDG reporting.
References
Achour, Z., & Boukattaya, S. (2021). The moderating effect of firm visibility on the corporate social responsibility-firm financial performance relationship: evidence from France. Corporate Social Responsibility, 24, 437-454.
Ahmad, N., & Buniamin, S. (2021). The relationship between SDG engagement and corporate financial performance: Evidence from public listed companies in Malaysia. Global Business and Management Research, 13(4s), 730-741.
Ahmed Haji, A., & Anifowose, M. (2016). The trend of integrated reporting practice in South Africa: Ceremonial or substantive?. Sustainability Accounting, Management and Policy Journal, 7(2), 190-224.
Almontaser, T., & Gerged, A. (2019). Exploring corporate sustainable development goals (SDGs) disclosure in a politically unstable environment: Evidence from the Libyan Oil Industry. Sustainability, Accounting, Management, and Policy Journal.
Al-Qudah, A. A., & Houcine, A. (2024). Firms' characteristics, corporate governance, and the adoption of sustainability reporting: evidence from Gulf Cooperation Council countries. Journal of Financial Reporting and Accounting, 22(2), 392-415.
Amran, A., Abbasi, M. A., Foroughi, B., & Tanggamani, V. (2024). Sustainability Reporting, Corporate Reputation, and Firm Performance: Moderating Role of Third-Party Assurance. Corporate Reputation Review, 1-17.
Appiagyei, K., & Donkor, A. (2024). Integrated reporting quality and sustainability performance: does firms' environmental sensitivity matter?. Journal of Accounting in Emerging Economies, 14(1), 25-47.
Attig, N., Boubakri, N., El Ghoul, S., & Guedhami, O. (2016). Firm internationalisation and corporate social responsibility. Journal of Business Ethics, 134, 171-197.
Buniamin, S., Jaffar, R., Ahmad, N., & Johari, N. H. (2021). Exploring SDGs Disclosure among Public Listed Companies in Malaysia: A Case of Energy-related SDGs. Global Business & Management Research, 13.
Bursa Malaysia. (2021, April 21). Integrating SDGs into Sustainability Reporting. Bursa Sustain. https://bursasustain.bursamalaysia.com/droplet-details/sustainability/integrating-sdgs-into-sustainability-reporting
DasGupta, R., Kumar, S., & Pathak, R. (2022). Multinational enterprises' internationalisation and adoption of sustainable development goals. International Journal of Managerial Finance, 18(4), 617-638.
Datta, S., & Goyal, S. (2022). Determinants of SDG reporting by businesses: A literature analysis and conceptual model. Vision, 09722629221096047.
de Villiers, C., Jia, J., & Li, Z. (2022). Are boards' risk management committees associated with firms' environmental performance?. The British Accounting Review, 54(1), 101066.
de Villiers, C., Naiker, V., & Van Staden, C. J. (2011). The effect of board characteristics on firm environmental performance. Journal of Management, 37(6), 1636-1663.
Deegan, C. (2002). Introduction: The legitimising effect of social and environmental disclosures – a theoretical foundation. Accounting, Auditing & Accountability Journal, 15(3), 282-311.
Deegan, C., & Blomquist, C. (2006). Stakeholder Influence on Corporate Reporting: An Exploration of the Interaction between WWF-Australia and the Australian Minerals Industry. Accounting, Organisations and Society, 31(7-8), 343-372.
Dong, S., & Burritt, R. (2010). Cross‐sectional benchmarking of social and environmental reporting practice in the Australian oil and gas industry. Sustainable Development, 18(2), 108-118.
Elalfy, A., Weber, O., & Geobey, S. (2021). The Sustainable Development Goals (SDGs): A rising tide lifts all boats? Global reporting implications in a post SDGs world. Journal of Applied Accounting Research, 22(3), 557-575.
Erin, O. A., & Bamigboye, O. A. (2021). Evaluation and analysis of SDG reporting: evidence from Africa. Journal of Accounting & Organizational Change, 18(3), 369-396.
Gallego‐Álvarez, I., & Pucheta‐Martínez, M. C. (2022). The moderating effects of corporate social responsibility assurance in the relationship between corporate social responsibility disclosure and corporate performance. Corporate Social Responsibility and Environmental Management, 29(3), 535-548.
Garcia, A. S., Mendes-Da-Silva, W., & Orsato, R. J. (2017). Sensitive industries produce better ESG performance: Evidence from emerging markets. Journal of Cleaner Production, 150, 135-147.
Gerged, A. M., Beddewela, E., & Cowton, C. J. (2021). Is corporate environmental disclosure associated with firm value? A multicounty study of Gulf Cooperation Council firms. Business Strategy and the Environment, 30(1), 185–203.
Giron, A., Kazemikhasragh, A., Cicchiello, A. F., & Panetti, E. (2022). Company characteristics and sustainability reporting: Evidence from Asia and Africa. International Journal of Social Ecology and Sustainable Development (IJSESD), 13(1), 1-18.
Goel, P., & Misra, R. (2017). Sustainability reporting in India: Exploring sectoral differences and linkages with financial performance. Vision, 21(2), 214-224.
Gunawan, J., Permatasari, P., & Tilt, C. (2020). Sustainable development goal disclosures: Do they support responsible consumption and production? Journal of Cleaner Production, 246, 118989.
Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: A review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, 5-21.
Hamad, S., Lai, F. W., Shad, M. K., Khatib, S. F., & Ali, S. E. A. (2023). Assessing the implementation of sustainable development goals: does integrated reporting matter?. Sustainability Accounting, Management and Policy Journal, 14(1), 49-74.
Haque, F. (2017). The effects of board characteristics and sustainable compensation policy on carbon performance of UK firms. The British Accounting Review, 49(3), 347-364.
Harun, M. S., Hussainey, K., Mohd Kharuddin, K. A., & Al Farooque, O. (2020). CSR disclosure, corporate governance and firm value: A study on GCC Islamic Banks. International Journal of Accounting & Information Management, 28(4), 607–638.
Helfaya, A., & Moussa, T. (2017). Do board's corporate social responsibility strategy and orientation influence environmental sustainability disclosure? UK evidence. Business Strategy and the Environment, 26(8), 1061-1077.
Hill, C. W. L., & Jones, T. M. (1992). Stakeholder-Agency Theory. Journal of Management Studies, 29(2), 131-154.
Hummel, K., & Szekely, M. (2022). Disclosure on the sustainable development goals–Evidence from Europe. Accounting in Europe, 19(1), 152-189.
Izzo, M. F., Ciaburri, M., & Tiscini, R. (2020). The challenge of sustainable development goal reporting: The first evidence from Italian listed companies. Sustainability, 12(8), 3494.
Kent, P., & Monem, R. (2008). What drives TBL reporting: good governance or threat to legitimacy?. Australian Accounting Review, 18(4), 297-309.
Khan, P. A., Johl, S. K., & Akhtar, S. (2021). Firm sustainable development goals and firm financial performance through the lens of Green Innovation Practices and Reporting: A Proactive Approach. Journal of Risk and Financial Management, 14(12), 605.
Ko, Y., Subramaniam, R., & Devi, S. (2024). Capital market effects of corporate transparency and sustainability: Evidence from an emerging economy. Journal of Asia Business Studies, 18(3), 688–711.
Kostova, T., & Zaheer, S. (1999). Organisational legitimacy under conditions of complexity: The case of the multinational enterprise. Academy of Management Review, 24(1), 64-81.
KPMG. (2020). The time has come: The KPMG survey of sustainability reporting 2020. KPMG International. https://assets.kpmg/content/dam/kpmg/xx/pdf/2020/11/the-time-has-come.pdf
Lassala, C., Orero-Blat, M., & Ribeiro-Navarrete, S. (2021). The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG). Economic Research-Ekonomska Istraživanja, 34(1), 427-449.
Leardini, C., Moggi, S., & Rossi, G. (2019). The new era of stakeholder engagement: Gaining, maintaining, and repairing legitimacy in nonprofit organisations. International Journal of Public Administration, 42(6), 520-532.
Li, Y., Richardson, G. D., & Thornton, D. B. (1997). Corporate disclosure of environmental liability information: Theory and evidence. Contemporary accounting research, 14(3), 435-474.
Lock, I., & Araujo, T. (2020). Visualising the triple bottom line: A large‐scale automated visual content analysis of European corporations' website and social media images. Corporate Social Responsibility and Environmental Management, 27(6), 2631-2641.
Malaysian Institute of Accountants. (2023, October 4). Sustainability Reporting in Malaysia. Accountants Today. https://www.at-mia.my/2023/10/04/sustainability-reporting-in-malaysia/#:~:text=Since%202015%2C%20listed%20issuers%20on
Okafor, A., Adeleye, B. N., & Adusei, M. (2021). Corporate social responsibility and financial performance: Evidence from US tech firms. Journal of cleaner production, 292, 126078.
Oncioiu, I., Petrescu, A. G., Bîlcan, F. R., Petrescu, M., Popescu, D. M., & Anghel, E. (2020). Corporate sustainability reporting and financial performance. Sustainability, 12(10), 4297.
Orazalin, N., & Mahmood, M. (2018). Economic, environmental, and social performance indicators of sustainability reporting: Evidence from the Russian oil and gas industry. Energy policy, 121, 70-79.
Oware, K. M., & Worae, T. A. (2023). Sustainability (disclosure and report format) and firm performance in India. Effects of mandatory CSR reporting. Cogent Business & Management, 10(1), 2170075.
Ozkan, A., Temiz, H., & Yildiz, Y. (2023). Climate risk, corporate social responsibility, and firm performance. British Journal of Management, 34(4), 1791-1810.
Pizzi, S., Caputo, A., Corvino, A., & Venturelli, A. (2020). Management research and the UN Sustainable Development Goals (SDGs): A bibliometric investigation and systematic review. Journal of Cleaner Production, 276, 124033.
Porter, M., & Kramer, M. (2011). Creating shared value. Harvard Business Review, 89(1-2), 16-17.
Qureshi, M. A., Kirkerud, S., Theresa, K., & Ahsan, T. (2020). The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity. Business Strategy and the Environment, 29(3), 1199-1214.
Reverte, C. (2012). The impact of better corporate social responsibility disclosure on the cost of equity capital. Corporate Social Responsibility and Environmental Management, 19(5), 253-272.
Rezaee, Z., Homayoun, S., Rezaee, N. J., & Poursoleyman, E. (2023). Business sustainability reporting and assurance and sustainable development goals. Managerial Auditing Journal, 38(7), 973-996.
Richardson, A. J., & Welker, M. (2001). Social disclosure, financial disclosure and the cost of equity capital. Accounting, organisations and society, 26(7-8), 597-616.
Romero, S., Ruiz, S., & Fernandez‐Feijoo, B. (2019). Sustainability reporting and stakeholder engagement in Spain: Different instruments, different quality. Business Strategy and the Environment, 28(1), 221-232.
Rosati, F., & Faria, L. G. D. (2019a). Addressing the SDGs in sustainability reports: The relationship with institutional factors. Journal of Cleaner Production, 215, 1312–1326.
Rosati, F., & Faria, L. G. D. (2019b). Organisational factors and sustainable development: Evidence from global firms. Journal of International Business Ethics, 12(1), 21-36.
Sachs, J. D., Lafortune, G., & Fuller, G. (2024). The SDGs and the UN Summit of the Future. Sustainable Development Report 2024. Paris: Sustainable Development Solutions Network; Dublin: Dublin University Press.
Scheyvens, R., Banks, G., & Hughes, E. (2016). The private sector and the SDGs: The need to move beyond 'business as usual'. Sustainable Development, 24(6), 371-382.
Soni, T. K. (2023). Demystifying the relationship between ESG and SDG performance: Study of emerging economies. Investment Management and Financial Innovations, 20(3), 1-12.
Suchman, M. C. (1995). Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20(3), 571-610.
Temiz, H. (2021). The effects of corporate disclosure on firm value and firm performance: Evidence from Turkey. International Journal of Islamic and Middle Eastern Finance and Management, 14(5), 1061–1080.
United Nations. (2015). Resolution adopted by the General Assembly on September 25 2015. https://www.un.org/en/development/desa/population/migration/generalassembly/docs/globalcompact/A_RES_70_1_E.pdf
United Nations. (2020). The Sustainable Development Goals Report 2020. https://sdgs.un.org/sites/default/files/2020-09/The-Sustainable-Development-Goals-Report-2020.pdf
Weerasinghe, T., Gunarathne, N., & Samudrage, D. N. (2024). Sustainable development goals disclosures: Evidence from Sri Lanka. Corporate Social Responsibility and Environmental Management, 31(2), 993-1010.
Xie, J., Riaz, H., Li, X., Xu, S., & Awan, T. M. (2022). Different kettles of fish: Corporate social performance, media legitimacy, and corporate financial performance of Chinese firms. Journal of Environmental Planning and Management, 65(14), 2631-2656.
Yu, S., Sial, M. S., Tran, D. K., Badulescu, A., Thu, P. A., & Sehleanu, M. (2020). Adoption and implementation of sustainable development goals (SDGs) in China—Agenda 2030. Sustainability, 12(15), 6288.
Zahid, M., Rahman, H. U., Muneer, S., Butt, B. Z., Isah-Chikaji, A., & Memon, M. A. (2019). Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production, 241, 118329.
Zhang, Q., & Ma, Y. (2021). The impact of environmental management on firm economic performance: The mediating effect of green innovation and the moderating effect of environmental leadership. Journal of Cleaner Production, 292, 126057.
Ahmad, N., & Buniamin, S. (2021). The relationship between SDG engagement and corporate financial performance: Evidence from public listed companies in Malaysia. Global Business and Management Research, 13(4s), 730-741.
Ahmed Haji, A., & Anifowose, M. (2016). The trend of integrated reporting practice in South Africa: Ceremonial or substantive?. Sustainability Accounting, Management and Policy Journal, 7(2), 190-224.
Almontaser, T., & Gerged, A. (2019). Exploring corporate sustainable development goals (SDGs) disclosure in a politically unstable environment: Evidence from the Libyan Oil Industry. Sustainability, Accounting, Management, and Policy Journal.
Al-Qudah, A. A., & Houcine, A. (2024). Firms' characteristics, corporate governance, and the adoption of sustainability reporting: evidence from Gulf Cooperation Council countries. Journal of Financial Reporting and Accounting, 22(2), 392-415.
Amran, A., Abbasi, M. A., Foroughi, B., & Tanggamani, V. (2024). Sustainability Reporting, Corporate Reputation, and Firm Performance: Moderating Role of Third-Party Assurance. Corporate Reputation Review, 1-17.
Appiagyei, K., & Donkor, A. (2024). Integrated reporting quality and sustainability performance: does firms' environmental sensitivity matter?. Journal of Accounting in Emerging Economies, 14(1), 25-47.
Attig, N., Boubakri, N., El Ghoul, S., & Guedhami, O. (2016). Firm internationalisation and corporate social responsibility. Journal of Business Ethics, 134, 171-197.
Buniamin, S., Jaffar, R., Ahmad, N., & Johari, N. H. (2021). Exploring SDGs Disclosure among Public Listed Companies in Malaysia: A Case of Energy-related SDGs. Global Business & Management Research, 13.
Bursa Malaysia. (2021, April 21). Integrating SDGs into Sustainability Reporting. Bursa Sustain. https://bursasustain.bursamalaysia.com/droplet-details/sustainability/integrating-sdgs-into-sustainability-reporting
DasGupta, R., Kumar, S., & Pathak, R. (2022). Multinational enterprises' internationalisation and adoption of sustainable development goals. International Journal of Managerial Finance, 18(4), 617-638.
Datta, S., & Goyal, S. (2022). Determinants of SDG reporting by businesses: A literature analysis and conceptual model. Vision, 09722629221096047.
de Villiers, C., Jia, J., & Li, Z. (2022). Are boards' risk management committees associated with firms' environmental performance?. The British Accounting Review, 54(1), 101066.
de Villiers, C., Naiker, V., & Van Staden, C. J. (2011). The effect of board characteristics on firm environmental performance. Journal of Management, 37(6), 1636-1663.
Deegan, C. (2002). Introduction: The legitimising effect of social and environmental disclosures – a theoretical foundation. Accounting, Auditing & Accountability Journal, 15(3), 282-311.
Deegan, C., & Blomquist, C. (2006). Stakeholder Influence on Corporate Reporting: An Exploration of the Interaction between WWF-Australia and the Australian Minerals Industry. Accounting, Organisations and Society, 31(7-8), 343-372.
Dong, S., & Burritt, R. (2010). Cross‐sectional benchmarking of social and environmental reporting practice in the Australian oil and gas industry. Sustainable Development, 18(2), 108-118.
Elalfy, A., Weber, O., & Geobey, S. (2021). The Sustainable Development Goals (SDGs): A rising tide lifts all boats? Global reporting implications in a post SDGs world. Journal of Applied Accounting Research, 22(3), 557-575.
Erin, O. A., & Bamigboye, O. A. (2021). Evaluation and analysis of SDG reporting: evidence from Africa. Journal of Accounting & Organizational Change, 18(3), 369-396.
Gallego‐Álvarez, I., & Pucheta‐Martínez, M. C. (2022). The moderating effects of corporate social responsibility assurance in the relationship between corporate social responsibility disclosure and corporate performance. Corporate Social Responsibility and Environmental Management, 29(3), 535-548.
Garcia, A. S., Mendes-Da-Silva, W., & Orsato, R. J. (2017). Sensitive industries produce better ESG performance: Evidence from emerging markets. Journal of Cleaner Production, 150, 135-147.
Gerged, A. M., Beddewela, E., & Cowton, C. J. (2021). Is corporate environmental disclosure associated with firm value? A multicounty study of Gulf Cooperation Council firms. Business Strategy and the Environment, 30(1), 185–203.
Giron, A., Kazemikhasragh, A., Cicchiello, A. F., & Panetti, E. (2022). Company characteristics and sustainability reporting: Evidence from Asia and Africa. International Journal of Social Ecology and Sustainable Development (IJSESD), 13(1), 1-18.
Goel, P., & Misra, R. (2017). Sustainability reporting in India: Exploring sectoral differences and linkages with financial performance. Vision, 21(2), 214-224.
Gunawan, J., Permatasari, P., & Tilt, C. (2020). Sustainable development goal disclosures: Do they support responsible consumption and production? Journal of Cleaner Production, 246, 118989.
Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: A review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, 5-21.
Hamad, S., Lai, F. W., Shad, M. K., Khatib, S. F., & Ali, S. E. A. (2023). Assessing the implementation of sustainable development goals: does integrated reporting matter?. Sustainability Accounting, Management and Policy Journal, 14(1), 49-74.
Haque, F. (2017). The effects of board characteristics and sustainable compensation policy on carbon performance of UK firms. The British Accounting Review, 49(3), 347-364.
Harun, M. S., Hussainey, K., Mohd Kharuddin, K. A., & Al Farooque, O. (2020). CSR disclosure, corporate governance and firm value: A study on GCC Islamic Banks. International Journal of Accounting & Information Management, 28(4), 607–638.
Helfaya, A., & Moussa, T. (2017). Do board's corporate social responsibility strategy and orientation influence environmental sustainability disclosure? UK evidence. Business Strategy and the Environment, 26(8), 1061-1077.
Hill, C. W. L., & Jones, T. M. (1992). Stakeholder-Agency Theory. Journal of Management Studies, 29(2), 131-154.
Hummel, K., & Szekely, M. (2022). Disclosure on the sustainable development goals–Evidence from Europe. Accounting in Europe, 19(1), 152-189.
Izzo, M. F., Ciaburri, M., & Tiscini, R. (2020). The challenge of sustainable development goal reporting: The first evidence from Italian listed companies. Sustainability, 12(8), 3494.
Kent, P., & Monem, R. (2008). What drives TBL reporting: good governance or threat to legitimacy?. Australian Accounting Review, 18(4), 297-309.
Khan, P. A., Johl, S. K., & Akhtar, S. (2021). Firm sustainable development goals and firm financial performance through the lens of Green Innovation Practices and Reporting: A Proactive Approach. Journal of Risk and Financial Management, 14(12), 605.
Ko, Y., Subramaniam, R., & Devi, S. (2024). Capital market effects of corporate transparency and sustainability: Evidence from an emerging economy. Journal of Asia Business Studies, 18(3), 688–711.
Kostova, T., & Zaheer, S. (1999). Organisational legitimacy under conditions of complexity: The case of the multinational enterprise. Academy of Management Review, 24(1), 64-81.
KPMG. (2020). The time has come: The KPMG survey of sustainability reporting 2020. KPMG International. https://assets.kpmg/content/dam/kpmg/xx/pdf/2020/11/the-time-has-come.pdf
Lassala, C., Orero-Blat, M., & Ribeiro-Navarrete, S. (2021). The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG). Economic Research-Ekonomska Istraživanja, 34(1), 427-449.
Leardini, C., Moggi, S., & Rossi, G. (2019). The new era of stakeholder engagement: Gaining, maintaining, and repairing legitimacy in nonprofit organisations. International Journal of Public Administration, 42(6), 520-532.
Li, Y., Richardson, G. D., & Thornton, D. B. (1997). Corporate disclosure of environmental liability information: Theory and evidence. Contemporary accounting research, 14(3), 435-474.
Lock, I., & Araujo, T. (2020). Visualising the triple bottom line: A large‐scale automated visual content analysis of European corporations' website and social media images. Corporate Social Responsibility and Environmental Management, 27(6), 2631-2641.
Malaysian Institute of Accountants. (2023, October 4). Sustainability Reporting in Malaysia. Accountants Today. https://www.at-mia.my/2023/10/04/sustainability-reporting-in-malaysia/#:~:text=Since%202015%2C%20listed%20issuers%20on
Okafor, A., Adeleye, B. N., & Adusei, M. (2021). Corporate social responsibility and financial performance: Evidence from US tech firms. Journal of cleaner production, 292, 126078.
Oncioiu, I., Petrescu, A. G., Bîlcan, F. R., Petrescu, M., Popescu, D. M., & Anghel, E. (2020). Corporate sustainability reporting and financial performance. Sustainability, 12(10), 4297.
Orazalin, N., & Mahmood, M. (2018). Economic, environmental, and social performance indicators of sustainability reporting: Evidence from the Russian oil and gas industry. Energy policy, 121, 70-79.
Oware, K. M., & Worae, T. A. (2023). Sustainability (disclosure and report format) and firm performance in India. Effects of mandatory CSR reporting. Cogent Business & Management, 10(1), 2170075.
Ozkan, A., Temiz, H., & Yildiz, Y. (2023). Climate risk, corporate social responsibility, and firm performance. British Journal of Management, 34(4), 1791-1810.
Pizzi, S., Caputo, A., Corvino, A., & Venturelli, A. (2020). Management research and the UN Sustainable Development Goals (SDGs): A bibliometric investigation and systematic review. Journal of Cleaner Production, 276, 124033.
Porter, M., & Kramer, M. (2011). Creating shared value. Harvard Business Review, 89(1-2), 16-17.
Qureshi, M. A., Kirkerud, S., Theresa, K., & Ahsan, T. (2020). The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity. Business Strategy and the Environment, 29(3), 1199-1214.
Reverte, C. (2012). The impact of better corporate social responsibility disclosure on the cost of equity capital. Corporate Social Responsibility and Environmental Management, 19(5), 253-272.
Rezaee, Z., Homayoun, S., Rezaee, N. J., & Poursoleyman, E. (2023). Business sustainability reporting and assurance and sustainable development goals. Managerial Auditing Journal, 38(7), 973-996.
Richardson, A. J., & Welker, M. (2001). Social disclosure, financial disclosure and the cost of equity capital. Accounting, organisations and society, 26(7-8), 597-616.
Romero, S., Ruiz, S., & Fernandez‐Feijoo, B. (2019). Sustainability reporting and stakeholder engagement in Spain: Different instruments, different quality. Business Strategy and the Environment, 28(1), 221-232.
Rosati, F., & Faria, L. G. D. (2019a). Addressing the SDGs in sustainability reports: The relationship with institutional factors. Journal of Cleaner Production, 215, 1312–1326.
Rosati, F., & Faria, L. G. D. (2019b). Organisational factors and sustainable development: Evidence from global firms. Journal of International Business Ethics, 12(1), 21-36.
Sachs, J. D., Lafortune, G., & Fuller, G. (2024). The SDGs and the UN Summit of the Future. Sustainable Development Report 2024. Paris: Sustainable Development Solutions Network; Dublin: Dublin University Press.
Scheyvens, R., Banks, G., & Hughes, E. (2016). The private sector and the SDGs: The need to move beyond 'business as usual'. Sustainable Development, 24(6), 371-382.
Soni, T. K. (2023). Demystifying the relationship between ESG and SDG performance: Study of emerging economies. Investment Management and Financial Innovations, 20(3), 1-12.
Suchman, M. C. (1995). Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20(3), 571-610.
Temiz, H. (2021). The effects of corporate disclosure on firm value and firm performance: Evidence from Turkey. International Journal of Islamic and Middle Eastern Finance and Management, 14(5), 1061–1080.
United Nations. (2015). Resolution adopted by the General Assembly on September 25 2015. https://www.un.org/en/development/desa/population/migration/generalassembly/docs/globalcompact/A_RES_70_1_E.pdf
United Nations. (2020). The Sustainable Development Goals Report 2020. https://sdgs.un.org/sites/default/files/2020-09/The-Sustainable-Development-Goals-Report-2020.pdf
Weerasinghe, T., Gunarathne, N., & Samudrage, D. N. (2024). Sustainable development goals disclosures: Evidence from Sri Lanka. Corporate Social Responsibility and Environmental Management, 31(2), 993-1010.
Xie, J., Riaz, H., Li, X., Xu, S., & Awan, T. M. (2022). Different kettles of fish: Corporate social performance, media legitimacy, and corporate financial performance of Chinese firms. Journal of Environmental Planning and Management, 65(14), 2631-2656.
Yu, S., Sial, M. S., Tran, D. K., Badulescu, A., Thu, P. A., & Sehleanu, M. (2020). Adoption and implementation of sustainable development goals (SDGs) in China—Agenda 2030. Sustainability, 12(15), 6288.
Zahid, M., Rahman, H. U., Muneer, S., Butt, B. Z., Isah-Chikaji, A., & Memon, M. A. (2019). Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production, 241, 118329.
Zhang, Q., & Ma, Y. (2021). The impact of environmental management on firm economic performance: The mediating effect of green innovation and the moderating effect of environmental leadership. Journal of Cleaner Production, 292, 126057.
Published
2024-07-31
How to Cite
HUA SIM, Chia; YUAN FUNG, Chorng.
Exploring the Determinants and Effects of SDG Reporting on Corporate Performance in an Emerging Market.
International Journal of Advanced Research in Economics and Finance, [S.l.], v. 6, n. 2, p. 157-171, july 2024.
ISSN 2682-812X.
Available at: <https://myjms.mohe.gov.my/index.php/ijaref/article/view/27222>. Date accessed: 13 sep. 2024.
Section
English Section
