The literature on the disclosure of sustainability has been receiving increasing attention, with various studies being conducted. However, the systematic review of the literature on “sustainability disclosure” by mapping the existing research and identifying opportunities for future research is fragmented and limited, and the objectives of this investigation intend to respond to this gap. The chapter contributes to contemporary literature by carving out the importance sustainability disclosure. The methodology employed includes a systematic literature review using the Web of Science and Scopus databases (1979 and 2023), which was analyzed using the VOSviewer and RStudio software. The results of the study reveal six distinct groups of publication trends, including sustainable index and practices, corporate image and reputation, sustainability reporting, frameworks related to sustainability, corporate governance approaches, and board corporative characteristics.
TopIntroduction
The world has undergone significant changes in recent times, with technological advancements and globalization leading to a shift in consumer behavior (Farooq et al., 2019). This shift can be attributed to a growing awareness of the need to care for and preserve the planet, as well as increased pressure from stakeholders for organizations to improve their results and actions (Tran and Beddewela, 2020). The main objective of this research is to identify strategies and mechanisms that do not negatively impact companies' commercial sector, while also promoting organizations' loyalty and transparency towards society (Dwekat et al., 2020). Sustainability reporting has emerged as a tool that companies use to disclose and communicate their environmental, social and economic results and goals (Pham and Tran, 2020). There is evidence to suggest that promoting and communicating a company's commitment to responsible behavior can help to retain and attract customers (Berne-Manero and Marzo-Navarro, 2020).
Given the importance of sustainability reporting, several studies have been conducted to explore how it can create value for organizations and society. Channuntapipat (2021) made a significant contribution by examining the reliability and transparency of sustainability reports and how they can lead to increased corporate sustainability actions. Aureli et al. (2020) analyzed the reactions of investors and markets to the relationship between sustainability practices and financial performance. Baier et al. (2021) highlighted the importance of accurate communication in sustainability reports, as misleading information can undermine the credibility of these reports. Ruiz-Barbadillo and Martinez-Ferrero (2020) studied the potential influence of culture and country on corporate disclosures. Finally, Antonio et al. (2020) recognized the importance of stakeholder engagement in understanding the perception and importance of social, cultural, and political aspects, and adopted a transnational approach.
Previous research on sustainability reporting has identified several gaps that provide opportunities for future investigations. One suggestion is to develop more robust theoretical frameworks that allow for a more rigorous and accurate analysis (Traxler et al., 2020). Vieira and Radonjič (2020) suggest changing the method of analysis of disclosed information, focusing on quality over quantity, and exploring mechanisms that facilitate the creation of sustainable value (Manning et al., 2019). According to Mahmood et al. (2018), it is also important to study how to improve sustainable disclosure in order to capture organizational value more comprehensively. Additionally, Dwekat et al. (2020) emphasized the importance of new areas of research to support the evolution and development of sustainability reporting, emphasizing the importance of evaluating report value from a holistic perspective that takes into account various dimensions of firm performance.
This study aims to address the gaps in previous research on sustainability reporting by using bibliometric analysis to identify past investigations and trends, as well as the least explored areas of study. This methodology, which is replicable and transparently described (Paoloni et al., 2020), allows for the identification and systemization of different areas of investigation.
Specifically, our research aims to develop a framework for the sustainability disclosure, identifying the main areas and current dynamics. The second objective is to identify potential avenues for future research on sustainability disclosure. In addressing these goals, we will address the following research questions:
RQ1: Who are the most notable and influential contributors (e.g., journals, articles, authors, institutions, countries) in the field of business administration that study sustainability disclosure?
RQ2: What is the different research (or knowledge) clusters that have emerged in the field?
RQ3: What are the main investigation opportunities in this area?