Scoping the Mediating Role of Corporate Governance on the Relationship Between Sustainability and Financial Performance of Firms
Bibliographic record
Abstract
Corporate sustainability is becoming pervasive, resulting in the intertwining of governance mechanisms at the organizational level, which is ultimately responsible for sustainability and the financial performance of firms. The objective of this study is to systematically document the extent to which various corporate governance mechanisms mediate the relationship between sustainability and the financial performance of firms. Following a scoping review approach, this paper analyzes a final sample of 91 studies for the period 2016–2022. Drawing from the cluster analysis technique, this paper identifies three focus areas: 1) board-level governance, 2) operational-level governance, and 3) assurance-level governance. The results suggest that these governance mechanisms have become increasingly significant for firm performance. In addition to consolidating the existing knowledge and frameworks in which governance and sustainability research intersect, the findings yield policy implications for firms seeking to integrate sustainability into their operations. This study contributes to the literature by being the first of its kind to systematically document the mediating role of governance on the relationship between sustainability and the financial performance of firms. It concludes that though existing literature provides a good overview of emerging governance strategies in relation to firm performance, there is a need for more deductive evidence in the literature.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.043 | 0.208 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.002 | 0.003 |
| Bibliometrics | 0.033 | 0.035 |
| Science and technology studies | 0.003 | 0.004 |
| Scholarly communication | 0.011 | 0.006 |
| Open science | 0.002 | 0.005 |
| Research integrity | 0.003 | 0.001 |
| Insufficient payload (model declined to judge) | 0.004 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".