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
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References
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Freeman, R. E. (1984). Strategic management: A stakeholder approach. Cambridge, UK: Cambridge University Press.
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Morsing, M., & Schultz, M. (2006). Corporate social responsibility communication: Stakeholder information, response and involvement strategies. Business Ethics: A European Review, 15(4), 323–338.
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
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
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
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