Main Article Content

Abstract

This study systematically reviews the relationship between stakeholder engagement and corporate sustainability performance, with the aim of identifying prevailing trends, research gaps, and potential future directions. Employing a Systematic Literature Review (SLR) using the PRISMA protocol, relevant studies were extracted from the Scopus database under rigorous inclusion and exclusion criteria. The review reveals that stakeholder engagement exerts a positive influence on sustainability performance across social, environmental, and economic dimensions, although this relationship is moderated by regulatory contexts, governance mechanisms, and organizational communication strategies. Stakeholder Theory emerges as the dominant theoretical lens, while alternative perspectives, such as Dialogic Theory remain underexplored within the literature. Practically, this study provides insights for companies and policymakers seeking to strengthen stakeholder engagement initiatives, enhance transparency in sustainability reporting, and support regulatory frameworks that promote inclusivity. Academically, it contributes a comprehensive synthesis of existing research, outlines key trends and unresolved issues, and offers direction for future studies on stakeholder engagement in corporate sustainability.

Keywords

Stakeholder Engagement Sustainability Corporate Sustainability Performance

Article Details

References

  1. Adamo, I. D. (2023). The analytic hierarchy process as an innovative way to enable stakeholder engagement for sustainability reporting in the food industry. Environment, Development and Sustainability, 25(12), 15025–15042. https://doi.org/10.1007/s10668-022-02700-0 DOI: https://doi.org/10.1007/s10668-022-02700-0
  2. Ardiana, P. A. (2019). Stakeholder engagement in sustainability reporting: Evidence of reputation risk management in large Australian companies. Australian Accounting Review, 29(4), 1–22. https://doi.org/10.1111/auar.12293 DOI: https://doi.org/10.1111/auar.12293
  3. Ardiana, P. A. (2023). Stakeholder engagement in sustainability reporting by fortune global 500 companies: A call for embeddedness. Meditari Accountancy Research, 31(2), 344–365. https://doi.org/10.1108/MEDAR-12-2019-0666 DOI: https://doi.org/10.1108/MEDAR-12-2019-0666
  4. Attanasio, G. (2022). Stakeholder engagement in business models for sustainability: The stakeholder value flow model for sustainable development. Business Strategy and the Environment, 31(3), 860–874. https://doi.org/10.1002/bse.2922 DOI: https://doi.org/10.1002/bse.2922
  5. Awuah, B., & Yazdifar, H. (2024). Corporate reporting on the sustainable development goals : A structured literature review and research agenda. Journal of Accounting & Organizational Change, 20(4), 617–646. https://doi.org/10.1108/JAOC-10-2022-0155 DOI: https://doi.org/10.1108/JAOC-10-2022-0155
  6. Bal, M., Bryde, D., Fearon, D., & Ochieng, E. (2013). Stakeholder engagement: Achieving sustainability in the construction sector. Sustainability, 5(2), 695-710. https://doi.org/10.3390/su5020695 DOI: https://doi.org/10.3390/su5020695
  7. Bebbington, J., Brown, J., Frame, B., & Thomson, I. (2007). Theorizing engagement: The potential of a critical dialogic approach. Accounting, Auditing & Accountability Journal, 20(3). https://doi.org/10.1108/09513570710748544 DOI: https://doi.org/10.1108/09513570710748544
  8. Bellucci, M., Simoni, L., Cesifin, F., & Predieri, A. (2019). Stakeholder engagement and dialogic accounting: Empirical evidence in sustainability reporting. Accounting, Auditing & Accountability Journal 32(5), 1467–1499. https://doi.org/10.1108/AAAJ-09-2017-3158 DOI: https://doi.org/10.1108/AAAJ-09-2017-3158
  9. Bendig, D., Erbar, F., & Sch, T. (2024). Revealing the truth: The moderating role of internal stakeholders in sustainability communication. Journal of Cleaner Production, 434, 139969. https://doi.org/10.1016/j.jclepro.2023.139969 DOI: https://doi.org/10.1016/j.jclepro.2023.139969
  10. Bernat, G. B. (2023). Sustainability in project management and project success with virtual teams: A quantitative analysis considering stakeholder engagement and knowledge management. Sustainability (Switzerland), 15(12). https://doi.org/10.3390/su15129834 DOI: https://doi.org/10.3390/su15129834
  11. Camilleri, M. A. (2006). Valuing stakeholder engagement and sustainability reporting. Corp Reputation Rev 18(3), 210–222. https://doi.org/10.1057/crr.2015.9 DOI: https://doi.org/10.1057/crr.2015.9
  12. Cities, U. S., Wang, X., Hawkins, C., & Berman, E. (2014). Financing sustainability and stakeholder engagement: Evidence from U.S. cities. Urban Affairs Review, 50(6), 806-834. https://doi.org/10.1177/1078087414522388 DOI: https://doi.org/10.1177/1078087414522388
  13. Dale, V. H., Kline, K. L., Richard, T. L., Karlen, D. L., & Belden, W. W. (2017). Biomass and bioenergy bridging biofuel sustainability indicators and ecosystem services through stakeholder engagement. Biomass and Bioenergy, 114, 143-156. https://doi.org/10.1016/j.biombioe.2017.09.016 DOI: https://doi.org/10.1016/j.biombioe.2017.09.016
  14. Darmawan, M. D., & Idawati, W. (2024). Pengaruh stakeholder pressure dan shareholding structure terhadap sustainability report quality. Jurnal Manajemen, 20(2), 22–42. https://doi.org/10.25170/jm.v20i2.4990 DOI: https://doi.org/10.25170/jm.v20i2.4990
  15. Dewi, A. A., Saraswati, E., Rahman, A. F., & Atmini, S. (2023). Materiality, stakeholder engagement disclosure, and corporate governance: Critical elements for the quality of sustainability reporting. Cogent Business & Management, 10(1). https://doi.org/10.1080/23311975.2023.2175437 DOI: https://doi.org/10.1080/23311975.2023.2175437
  16. Dumay, J., Bernardi, C., Guthrie, J., & Demartini, P. (2016). Integrated reporting: A structured literature review. Accounting Forum, 40(3), 166–185. https://doi.org/10.1016/j.accfor.2016.06.001 DOI: https://doi.org/10.1016/j.accfor.2016.06.001
  17. Dyllick, T., & Muff, K. (2015). Clarifying the meaning of sustainable business: Introducing a typology from business-as-usual to true business sustainability. Organization & Environment, 29(2), 156-174. https://doi.org/10.1177/1086026615575176 DOI: https://doi.org/10.1177/1086026615575176
  18. Ferrero-Ferrero, I., Fernández-Izquierdo, M. A., Muñoz-Torres, M. J., & Bellés-Colomer, L. (2018). Stakeholder engagement in sustainability reporting in higher education: An analysis of key internal stakeholders’ expectations. International Journal of Sustainability in Higher Education, 19(2), 313–336. https://doi.org/10.1108/IJSHE-06-2016-0116 DOI: https://doi.org/10.1108/IJSHE-06-2016-0116
  19. Fobbe, L., & Niss, C. (2024). Continuous and changing stakeholder engagement for organisational sustainability: Proposing the stakeholder engagement flow model. Corporate Social Responsibility and Environmental Management, 31(6), 6061–6074. https://doi.org/10.1002/csr.2908 DOI: https://doi.org/10.1002/csr.2908
  20. Freeman, R. E. (1984). Strategic management: A stakeholder approach. Cambridge, UK: Cambridge University Press.
  21. Fusco, F., Pavone, P., & Ricci, P. (2024). Strengthening accountability and sustainability reporting : Does stakeholder engagement really work ? Evidence from the judicial sector. Social Responsibility Journal 20(5), 1015–1039. https://doi.org/10.1108/SRJ-05-2023-0248 DOI: https://doi.org/10.1108/SRJ-05-2023-0248
  22. Gao, S. S., Zhang, J. J., Gao, S. S., & Zhang, J. J. (2011). Stakeholder engagement, social auditing and corporate. Business Process Management Journal, 12(6), 722–740. https://doi.org/10.1108/14637150610710891 DOI: https://doi.org/10.1108/14637150610710891
  23. Ghassim, B., & Bogers, M. (2019). Linking stakeholder engagement to profitability through sustainability-oriented innovation : A quantitative study of the minerals industry. Journal of Cleaner Production, 224, 905–919. https://doi.org/10.1016/j.jclepro.2019.03.226 DOI: https://doi.org/10.1016/j.jclepro.2019.03.226
  24. Giacomini, D., Rocca, L., & Tonoli, D. (2025). Exploring materiality and stakeholder engagement in European water utilities' sustainability strategies, organizational practices, and reporting. Business Strategy and the Environment 34(2), 2607–2629. https://doi.org/10.1002/bse.4109 DOI: https://doi.org/10.1002/bse.4109
  25. Greco, G., Sciulli, N., & Onza, G. D. (2013). The influence of stakeholder engagement on sustainability reporting: Evidence from Italian local councils. Public Management Review, 17(4), 465–488. https://doi.org/10.1080/14719037.2013.798024 DOI: https://doi.org/10.1080/14719037.2013.798024
  26. Henriques, R. (2022). Sustainability reporting quality and stakeholder engagement assessment: The case of the paper sector at the Iberian level. Sustainability (Switzerland), 14(21). https://doi.org/10.3390/su142114404 DOI: https://doi.org/10.3390/su142114404
  27. Hong, Q. N., Bartlett, G., Boardman, F., Cargo, M., Dagenais, P., Gagnon, M., Griffiths, F., Nicolau, B., Rousseau, M., Vedel, I., & Pluye, P. (2018). The mixed methods appraisal tool (mmat) version 2018 for information professionals and researchers. Education for Information, 34(4), 285-291. https://doi.org/10.3233/EFI-180221 DOI: https://doi.org/10.3233/EFI-180221
  28. Jang, Y. J. (2020). The role of stakeholder engagement in environmental sustainability: A moderation analysis of chain affiliation. Journal of Hospitality & Tourism Research, 46(5), 1006-1026. https://doi.org/10.1177/1096348020936348 DOI: https://doi.org/10.1177/1096348020936348
  29. Jang, Y. J., Zheng, T., & Bosselman, R. (2017). Top managers’ environmental values, leadership, and stakeholder engagement in promoting environmental sustainability in the restaurant industry. International Journal of Hospitality Management, 63, 101–111. https://doi.org/10.1016/j.ijhm.2017.03.005 DOI: https://doi.org/10.1016/j.ijhm.2017.03.005
  30. Kaur, A., & Lodhia, S. (2017). Stakeholder engagement in sustainability accounting and reporting: A study of Australian local councils. Accounting, Auditing & Accountability Journal, 3(1), 338–368. https://doi.org/10.1108/AAAJ-12-2014-1901 DOI: https://doi.org/10.1108/AAAJ-12-2014-1901
  31. Konadu, R., Sam, G., Samuel, A., & Agyei, O. (2021). Corporate governance pillars and business sustainability: Does stakeholder engagement matter?. International Journal of Disclosure and Governance, 18(3), 269–289. https://doi.org/10.1057/s41310-021-00115-3 DOI: https://doi.org/10.1057/s41310-021-00115-3
  32. Li, D., Liao, Y.-C., & Ma, P. (2022). Contingent view on the relationship between proactive environmental strategy and corporate performance: Toward stakeholder engagement. Wiley, 29(5). https://doi.org/https://doi.org/10.1002/csr.2307 DOI: https://doi.org/10.1002/csr.2307
  33. Lozano, R. (2013). A holistic perspective on corporate sustainability drivers. Corporate Social Responsibility and Environmental Management 22(1). https://doi.org/10.1002/csr.1325 DOI: https://doi.org/10.1002/csr.1325
  34. Manetti, G. (2011). The quality of stakeholder engagement in sustainability reporting: Empirical evidence and critical points. Corporate Social Responsibility and Environmental Management 18, 110–122. https://doi.org/10.1002/csr.255 DOI: https://doi.org/10.1002/csr.255
  35. Manning, B., & Reimsbach, D. (2018). Corporate governance and sustainable business conduct — Effects of board monitoring effectiveness and stakeholder engagement on corporate sustainability performance and disclosure choices. Corporate Social Responsibility and Environmental Management, 26(2), 1–16. https://doi.org/10.1002/csr.1687 DOI: https://doi.org/10.1002/csr.1687
  36. Maria, S., Loureiro, C., Romero, J., & Godinho, R. (2019). Stakeholder engagement in co-creation processes for innovation: A systematic literature review and case study. Journal of Business Research, 119, 388-409. https://doi.org/10.1016/j.jbusres.2019.09.038 DOI: https://doi.org/10.1016/j.jbusres.2019.09.038
  37. Mathur, V. N., Price, A. D. F., Austin, S., Mathur, V. N., Price, A. D. F., & Austin, S. (2008). Conceptualizing stakeholder engagement in the context of sustainability and its assessment. Construction Management and Economics, 26(6), 601–609. https://doi.org/10.1080/01446190802061233 DOI: https://doi.org/10.1080/01446190802061233
  38. Matikainen, L. S. (2022). Addressing sustainability in the mining industry through stakeholder engagement. South Asian Journal of Business and Management Cases, 11(1), 35–48. https://doi.org/10.1177/22779779221078673 DOI: https://doi.org/10.1177/22779779221078673
  39. Mcintosh, O. B., Burnett, A., Feldman, I., Reuter, T. A., & Vital, E. (2023). The role of sustainability knowledge-action platforms in advancing multi-stakeholder engagement on sustainability. Cambridge University Press, 5(34). https://doi.org/10.1017/dap.2023.27 DOI: https://doi.org/10.1017/dap.2023.31
  40. Moher, D., Liberati, A., Tetzlaff, J., Altman, D. G., & Group, T. P. (2009). Preferred reporting items for systematic reviews and meta-analyses: The prisma statement. PLOS Medicine, 6(7). https://doi.org/10.1371/journal.pmed.1000097 DOI: https://doi.org/10.1371/journal.pmed.1000097
  41. Morsing, M., & Schultz, M. (2006). Corporate social responsibility communication: Stakeholder information, response and involvement strategies. Business Ethics: A European Review, 15(4), 323–338. DOI: https://doi.org/10.1111/j.1467-8608.2006.00460.x
  42. Ngampravatdee, C., Gharehbaghi, K., Hosseinian-far, A., & Tee, K. F. (2023). Strategic initiatives for large transport infrastructure planning: Reinforcing sustainability in urban transportation through better stakeholder engagement. Sustainability, 15, 13912. https://doi.org/10.3390/ su151813912 DOI: https://doi.org/10.3390/su151813912
  43. Ngu, S. B., & Amran, A. (2018). Materiality disclosure in sustainability reporting: Fostering stakeholder engagement. Strategic Direction, 34(5), 1–4. https://doi.org/10.1108/SD-01-2018-0002 DOI: https://doi.org/10.1108/SD-01-2018-0002
  44. Oliveira, R. N., Midori, F., & Oliveira, S. (2022). Stakeholders engagement and performance of sustainable information quality. International Scientific Conference Strategic Management and Decision Support Systems in Strategic Management, 436-442. https://doi.org/10.46541/978-86-7233-406-7_229 DOI: https://doi.org/10.46541/978-86-7233-406-7_229
  45. Page, M. J., Mckenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-wilson, E., Mcdonald, S., … Moher, D. (2021). The prisma 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372. https://doi.org/10.1136/bmj.n71 DOI: https://doi.org/10.1136/bmj.n71
  46. Pasko, O., Marenych, T., Diachenko, O., Levytska, I., & Balla, I. (2021). Stakeholder engagement in sustainability reporting: The case study of Ukrainian public agricultural companies. Agricultural and Resource Economics : International Scientific E-Journal 7(1), 58–80. http://are-journal.com DOI: https://doi.org/10.51599/are.2021.07.01.04
  47. Pucci, T., Casprini, E., Galati, A., & Zanni, L. (2020). The virtuous cycle of stakeholder engagement in developing a sustainability culture : Salcheto winery. Journal of Business Research, 119, 364–376. https://doi.org/10.1016/j.jbusres.2018.11.009 DOI: https://doi.org/10.1016/j.jbusres.2018.11.009
  48. Rawhouser, H., Cummings, M. E., & Marcus, A. (2017). Sustainability standards and stakeholder engagement: Lessons from carbon markets. Organization & Environment, 31(3), 263-282. https://doi.org/10.1177/1086026617718434 DOI: https://doi.org/10.1177/1086026617718434
  49. Romero, S., Ruiz, S., & Fernandez-Feijoo, B. (2018). Sustainability reporting and stakeholder engagement in Spain: Different instruments, different quality. Business Strategy and the Environment, 28(1), 221–232. https://doi.org/10.1002/bse.2251 DOI: https://doi.org/10.1002/bse.2251
  50. Salvioni, D. M., & Almici, A. (2020). Transitioning toward a circular economy: The impact of stakeholder engagement on sustainability culture. Sustainability, 12(20), 8641. https://doi.org/10.3390/su12208641 DOI: https://doi.org/10.3390/su12208641
  51. Saulick, P., Bokhoree, C., & Bekaroo, G. (2023). Business sustainability performance: A systematic literature review on assessment approaches, tools and techniques. Journal of Cleaner Production, 408, 136837. https://doi.org/10.1016/j.jclepro.2023.136837 DOI: https://doi.org/10.1016/j.jclepro.2023.136837
  52. Silva, S., Nuzum, A., & Schaltegger, S. (2019). Stakeholder expectations on sustainability performance measurement and assessment. A systematic literature review. Journal of Cleaner Production, 217, 204–215. https://doi.org/10.1016/j.jclepro.2019.01.203 DOI: https://doi.org/10.1016/j.jclepro.2019.01.203
  53. Stave, K., Dwyer, M., Turner, M., Lem, P., & Cription, D. E. S. (2019). Exploring the value of participatory system dynamics in two paired field studies of stakeholder engagement in sustainability discussions. Systems Research and Behavioral Science 36(2), 156–179. https://doi.org/10.1002/sres.2576 DOI: https://doi.org/10.1002/sres.2576
  54. Stocker, F., Arruda, M. P. De, & Boaventura, M. G. (2020). Stakeholder engagement in sustainability reporting: A classification model. Corporate Social Responsibility and Environmental Management, 27(5), 2142–2154. https://doi.org/10.1002/csr.1947 DOI: https://doi.org/10.1002/csr.1947
  55. Suchman, M. C. (1995). Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20(3), 571–610. DOI: https://doi.org/10.2307/258788
  56. Sun, R., & Zainal, D. (2024). Sustainability reporting and stakeholder engagement of Malaysian hotels in social media: The moderating role of media types. Cogent Business & Management, 11(1). https://doi.org/10.1080/23311975.2024.2400616 DOI: https://doi.org/10.1080/23311975.2024.2400616
  57. Tan, F., & Dipendra, K. C. (2024). Tensions between materiality assessments and stakeholder engagements in Thai corporate sustainability leaders. Sustainability, 16(17), 7711. https://doi.org/10.3390/su16177711 DOI: https://doi.org/10.3390/su16177711
  58. Ven, H. Van Der. (2024). A comparison of stakeholder engagement practices in voluntary sustainability standards. Regulation & Governance, 18(3), 820–836. https://doi.org/10.1111/rego.12552 DOI: https://doi.org/10.1111/rego.12552
  59. Wilson, I. E., & Rezgui, Y. (2013). Barriers to construction industry stakeholders’ engagement with sustainability: toward a shared knowledge experience. Technological and Economic Development of Economy 19(2), 289–309. https://doi.org/10.3846/20294913.2013.799105 DOI: https://doi.org/10.3846/20294913.2013.799105