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.
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References
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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
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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
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
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
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
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
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
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
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
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
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
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
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
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 DOI: 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 DOI: https://doi.org/10.1108/14637150610710891
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