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Sustainable Corporate Governance and Innovation

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (20 March 2023) | Viewed by 7608

Special Issue Editors


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Guest Editor
Department of Accounting and Financial Economics, University of Sevilla, 41018 Sevilla, Spain
Interests: board of directors; gender diversity; audit committee; financial reporting; corporate social responsibility reporting

E-Mail Website
Guest Editor
Department of Accounting and Financial Economics, University of Sevilla, 41018 Sevilla, Spain
Interests: board of directors; gender diversity; corporate social responsibility

E-Mail Website
Guest Editor
Department of Accounting and Financial Economics, University of Sevilla, 41018 Sevilla, Spain
Interests: board of directors; gender diversity; audit committee; financial reporting

Special Issue Information

Dear Colleagues,

The aim of this Special Issue is to cast light on the relevance of corporate governance in the creation of value for firms through the development of innovative initiatives. Recent governance failures, as well as social and environmental excesses, have placed increasing pressure on corporate governance mechanisms, especially boards of directors and their committees, as drivers of sustainable business strategies.

Although a long stream of research has analysed the influence of governance on company performance and value, recent studies have highlighted that corporate governance is one of the main determinants for other corporate outcomes that may contribute to sustainable development, such as innovation and technological change. In general, the literature suggests that R&D decisions may be a source of competitive advantage for firms, which is critical for long-term success. In this regard, some studies indicate that the level of R&D investments can be valuable for most types of companies, and lead to a positive response in the financial markets and firm performance. Recent research has paid increasing attention to social and environmental innovation. In the current context, this type of innovation has become pivotal for minimising companies’ environmental problems and addressing the concerns of consumers and public bodies, as well as enhancing economic outcomes, due to the efficient use of resources.

This Special Issue welcomes a wide variety of academic disciplines encompassing numerous methodological approaches that will contribute to the existing literature by shedding some light on the role of corporate governance in innovation. In particular, we encourage submissions that address issues related (but not limited) to the following main topics:

  • Boards of directors and R&D intensity.
  • Boards of directors and social and environmental innovation.
  • Sustainability committees and environmental innovation.
  • Managerial incentives and decisions about corporate innovation.
  • The role of institutional investors in corporate innovation.
  • The capital market’s reactions to boards’ decisions about innovation.
  • Corporate governance and innovation in emerging countries.
  • Literature reviews regarding corporate governance and innovation.

Dr. Francisco Bravo-Urquiza
Dr. Elena Moreno-Ureba
Dr. María Dolores Alcaide-Ruiz
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • corporate governance
  • board of directors
  • sustainability committee
  • R&D investment
  • environmental innovation
  • eco-innovation
  • social innovation

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Published Papers (3 papers)

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Research

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29 pages, 365 KiB  
Article
The Contract Design of Employee Stock Ownership Plan and Enterprise Innovation Investment: Evidence from China
by Fu Cheng, Shanshan Ji and Yucheng Chen
Sustainability 2023, 15(3), 2601; https://doi.org/10.3390/su15032601 - 1 Feb 2023
Viewed by 2575
Abstract
Enterprise innovation is a key driver of national economic growth. How to stimulate employees’ innovation vitality to improve the company’s innovation input and output has always been a hot topic. Employee Stock Ownership Plan (ESOP) is one of the effective means to stimulate [...] Read more.
Enterprise innovation is a key driver of national economic growth. How to stimulate employees’ innovation vitality to improve the company’s innovation input and output has always been a hot topic. Employee Stock Ownership Plan (ESOP) is one of the effective means to stimulate employees’ innovation vitality by linking employee wealth with firm value. The purpose of this paper is to examine the effect of ESOP implementation and contract design on enterprise innovation investment in the context of the recent booming development of ESOP in China. First, we use a treatment effect model to examine the impact of ESOP implementation on innovation investment, taking firms that implement ESOPs as the treatment group and firms that do not implement ESOPs as the control group. Second, we use multivariate regression models to test the impact of ESOP contract design (including fund source, stock source, lockup period, duration, shareholding scale, executive subscription ratio, participation degree, and management mode) on innovation investment using the treatment group. The results indicate that the implementation of ESOP is helpful in increasing enterprise innovation investment, and the impact of ESOP on innovation investment varies significantly with the design of incentive contracts. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Innovation)
25 pages, 925 KiB  
Article
Accounting Conservatism, R&D Manipulation, and Corporate Innovation: Evidence from China
by Yi Shen and Qingsong Ruan
Sustainability 2022, 14(15), 9048; https://doi.org/10.3390/su14159048 - 23 Jul 2022
Cited by 6 | Viewed by 2764
Abstract
Research and development (R&D) is the main driver for the sustainable development of corporate innovation. Given the prevalence of information asymmetry in R&D, executives opportunistically manipulate R&D investment. While accounting conservatism as a corporate governance mechanism can effectively reduce information asymmetry, few studies [...] Read more.
Research and development (R&D) is the main driver for the sustainable development of corporate innovation. Given the prevalence of information asymmetry in R&D, executives opportunistically manipulate R&D investment. While accounting conservatism as a corporate governance mechanism can effectively reduce information asymmetry, few studies have focused on the relationship between the two. Based on Chinese listed companies in 2008–2019, this paper investigates the impact of accounting conservatism on R&D manipulation, as well as the moderating effect of internal control quality and tax enforcement efforts on this relationship. The results indicate that not only are the results more significantly negative in subgroups of low-level internal control and tax collection, but the coefficients of their cross-sectional variables are also positive. Therefore, accounting conservatism can effectively deter R&D manipulation, and this effect is weakened by internal control and tax enforcement. Additionally, the impact of accounting conservatism on manipulation differs in direction and lifecycle. The negative conservatism–manipulation relationship is more significant for upward manipulation and growing enterprises. Further research also suggests that conservatism’s inhibitory effect on R&D manipulation is mediated by financial constraints, which enhances corporate innovation efficiency. The conclusions not only provide empirical evidence for the corporation to improve R&D efficiency but also provide the basis for the authorities to promote innovation supervision. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Innovation)
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Review

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14 pages, 2284 KiB  
Review
Sustainability Committee Research: A Bibliometric Study
by María Dolores Alcaide-Ruiz, Francisco Bravo-Urquiza and Elena Moreno-Ureba
Sustainability 2022, 14(23), 16136; https://doi.org/10.3390/su142316136 - 2 Dec 2022
Cited by 2 | Viewed by 1388
Abstract
This study conducts a bibliometric analysis of research on sustainability committees. Specifically, our paper analyses the development of this field of research by identifying the most influential articles, authors, and relevant research themes, and highlighting potential future lines of research. Our sample is [...] Read more.
This study conducts a bibliometric analysis of research on sustainability committees. Specifically, our paper analyses the development of this field of research by identifying the most influential articles, authors, and relevant research themes, and highlighting potential future lines of research. Our sample is composed of the publications from the main collection of the Clarivate Analytics Web of Science database (WOS) for the period 1900–2021. Our findings stress the interdisciplinary nature of research about sustainability committees. In addition, our evidence emphasizes the need for more research to understand how firms respond to regulatory and societal pressures on sustainability matters. In addition, the network analysis highlights the main research themes and provides a basis for recognizing future research opportunities. Our paper is the first to perform a comprehensive bibliometric analysis for sustainability committees. Our evidence presents relevant implications for academics in the definition of their research projects. Full article
(This article belongs to the Special Issue Sustainable Corporate Governance and Innovation)
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