<p>Since its release in 2015, the sustainable development goals (SDGs) have become a significant reference for companies seeking to make a tangible contribution to the planet and humanity, and to disclose their actions to society. Among several possible factors that can lead to or enhance these contributions are corporate governance mechanisms, such as ownership structure, board of directors, and managerial incentives. Therefore, this study aims to answer the following research question: "How are the internal corporate governance mechanisms related to the disclosure of the sustainable development goals (SDGs)?". To answer this, we systematically reviewed the literature from 2003 to 2024 in the Web of Science and Scopus databases. It is possible to notice that there are two research bundles on how internal governance mechanisms are related to the SDGS: (1) as determinants of SDG disclosure, and (2) as content of SDG disclosure. We can see that this relationship is still fragmented and in its early stages, with much room for development. Most studies analyze data from companies in Asia and Africa using different theoretical lenses, and board gender diversity is the most frequently studied aspect. From a theoretical perspective, we propose a framework to guide future studies in delving deeper into the internal corporate governance mechanisms that determine SDGs disclosure and its content. The findings offer valuable implications for different stakeholders, including companies, institutional investors, capital market regulators, and aspiring board members. Since research still focuses little on the content of SDG disclosure, shareholders may use their power to demand quality information about how managers and directors contribute to achieving the SDGs. Similarly, stakeholders may establish a fruitful engagement to demand information and action from companies about practices related to the SDGS.</p>

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Internal corporate governance mechanisms and the disclosure of the sustainable development goals: a systematic review

  • Julia Mitsue Vieira Cruz Kumasaka,
  • Tobias Coutinho Parente,
  • Flavio Hourneaux Junior

摘要

Since its release in 2015, the sustainable development goals (SDGs) have become a significant reference for companies seeking to make a tangible contribution to the planet and humanity, and to disclose their actions to society. Among several possible factors that can lead to or enhance these contributions are corporate governance mechanisms, such as ownership structure, board of directors, and managerial incentives. Therefore, this study aims to answer the following research question: "How are the internal corporate governance mechanisms related to the disclosure of the sustainable development goals (SDGs)?". To answer this, we systematically reviewed the literature from 2003 to 2024 in the Web of Science and Scopus databases. It is possible to notice that there are two research bundles on how internal governance mechanisms are related to the SDGS: (1) as determinants of SDG disclosure, and (2) as content of SDG disclosure. We can see that this relationship is still fragmented and in its early stages, with much room for development. Most studies analyze data from companies in Asia and Africa using different theoretical lenses, and board gender diversity is the most frequently studied aspect. From a theoretical perspective, we propose a framework to guide future studies in delving deeper into the internal corporate governance mechanisms that determine SDGs disclosure and its content. The findings offer valuable implications for different stakeholders, including companies, institutional investors, capital market regulators, and aspiring board members. Since research still focuses little on the content of SDG disclosure, shareholders may use their power to demand quality information about how managers and directors contribute to achieving the SDGs. Similarly, stakeholders may establish a fruitful engagement to demand information and action from companies about practices related to the SDGS.