Salience of Corporate Sustainability: Proposed Operationalization

Abstract

This bibliometric analysis underscores the increasing importance of corporate sustainability in the post-COVID-19 era. Despite existing confusion and a dearth of studies on measuring corporate sustainability, the study identifies a significant methodological gap and endeavors to address it by proposing a comprehensive measure. The primary goal is to bridge this gap by conducting a bibliometric analysis on the scale of corporate sustainability, examining 126 documents spanning from 2001 to 2022. The study employs an expert opinion survey to identify and finalize dimensions and sub-dimensions of corporate sustainability, followed by a literature mapping process to formulate questionnaire items. A pilot survey is then conducted to ensure the reliability of the questionnaire. The study proposes utilizing the Organisation for Economic Co-operation and Development (OECD) index construction methodology to establish the Corporate Sustainability Index (CSI). The key findings reveal that corporate sustainability comprises economic, environmental, and social sustainability. Environmental sustainability encompasses aspects such as air, water, land, biodiversity, ocean preservation, waste prevention, and environmental management. Social sustainability involves the satisfaction of various stakeholders, including employees, shareholders, customers, community, government, nongovernmental organizations (NGOs), and suppliers. Economic sustainability is characterized by long-term profits, cost efficiency, trade-offs, sustainable investments, and spin-offs. Rooted in stakeholder theory, the proposed scale holds theoretical significance for researchers and is pertinent to policymakers striving to achieve sustainable development goals (SDGs) by 2030. Additionally, it serves as a crucial tool for practitioners and companies to assess their level of corporate sustainability.

Citation

Dissanayake, H., Dissabandara, H., Ajward, R., Perera, W., Popescu, C. and Radulescu, I.G. (2024), "Salience of Corporate Sustainability: Proposed Operationalization", Andrei, J.V. and Grigorescu, A. (Ed.) Emerging Patterns and Behaviors in a Green Resilient Economy (Lab for Entrepreneurship and Development), Emerald Publishing Limited, Leeds, pp. 205-231. https://doi.org/10.1108/978-1-83549-780-720241011