New issue of the Corporate Governance and Sustainability Review journal
The editorial team of Virtus Interpress is honored to present the first issue of the journal “Corporate Governance and Sustainability Review” in 2026. The studies brought together in this issue reflect an evolving understanding of how sustainability is embedded within governance frameworks and economic structures. Sustainability is no longer treated merely as a reporting exercise or reputational signal; rather, its economic relevance depends on how effectively it is integrated into incentive systems, monitoring mechanisms, and strategic decision processes. What emerges is a more structured perspective on how sustainability enters corporate and economic decision-making.
The first study by Ria Karina, Teddy Jurnali, Gandi, and Mardianto explores the effect of sustainability on firm value, with innovation as a moderating variable. Despite various sustainability initiatives, the inconsistent impact of sustainability practices on firm value raises questions about what factors truly enhance the effectiveness of these practices in delivering business value. The findings emphasize the importance of embedding innovation within sustainability strategies.
The next paper by Tuğçe Uzun Kocamış, Gülçin Kazan, and Ayşegül Güngör examines the voluntary adoption and usability of the International Financial Reporting Standards (IFRS) S1 and IFRS S2 by energy companies in Türkiye, before their mandatory implementation in January 2024. The findings demonstrate a marked improvement in both the frequency and quality of sustainability disclosures over three years.
Ammar Alawadh examines the influence of digital solutions on food waste diversion behavior, while considering the moderating role of consumer attitudes towards food waste in Saudi Arabia. A quantitative research design was employed, and data were collected from 256 respondents using a structured questionnaire through a convenience sampling approach. The findings revealed that digital solutions, such as mobile applications, smart tracking tools, and awareness platforms, significantly and positively impacted food waste diversion behavior.
Asad Ahmad, Swati Garg, Jaya Bhasin, Obaidur Rahman, and Shahid Mushtaq employed the semi-structured interview method on 40 young Indian consumers to determine their knowledge about greenhushing and what impact, if any, it has on consumer product selection. The findings of the study highlight the relevance of proper and clear communication of product-related information, which may be a help for producers and policymakers, along with society in general.
The following study by Nora Hilmia Primasari and Siti Mutmainah examines the unique role of audit committees as moderators of the relationship between tax aggressiveness and corporate sustainability, an aspect that remains underexplored in prior literature. A quantitative analysis was conducted on firms listed on the Indonesia Stock Exchange (IDX) during the 2017–2022 period. The findings show that tax aggressiveness negatively affects corporate sustainability.
Besim Kamberaj uses qualitative document analysis of 39 policy reports, academic studies, and civil society contributions to identify key barriers, including fluctuating political will, uneven governance, and policy fragmentation, alongside opportunities in civil society engagement, innovative financing, and European Union (EU) aligned collaboration. The findings demonstrate that economic integration cannot succeed without parallel governance reforms, and that sustainability must be embedded as a foundational principle rather than an add-on.
The study by Manh Tien Pham, Duyen Thi Nguyen, Hoai Thi Thanh Ho, Duong Thi Thuy Vu, and Trang Thao Nguyen provides empirical evidence on the joint effects of carbon markets and CPU on financial and economic stability in G7 countries over the period 2013–2023, marked by major global shocks including the COVID-19 pandemic and international conflicts.
The research paper by Zhongbin Tong and Norkhairul Hafiz Bajuri analyzes whether the improvements in ESG factors lead to a reduction in the financing cost of Chinese A-listed firms.
Marsudi Lestariningsih, Wirawan Endro Dwi Radianto, Ari Kuntardina, Damayanti Damayanti, Marsudi Endang Sri Rejeki investigate the direct impact and mediation roles of leader-member exchange (LMX), organizational commitment, and innovative employee behavior.
Mirjam Dibra, Enida Pulaj Brakaj, Nevila Cinaj, Ermira Qosja, and Ani Mbrica examine how stakeholder-driven sustainability initiatives enhance tourist satisfaction and how responsible tourism impacts sustainable development strategies with positive tourism outcomes along Albania’s Adriatic coast. Data from 185 stakeholders were used to assess the impact of sustainability factors on tourist satisfaction and the mediating role of responsible tourism in destination development. Findings reveal that long-term planning has the most substantial direct effect on tourist satisfaction, followed by local economic development and stakeholder participation.
The study by Carolin Schellhorn provides estimates for two hypothetical examples that are part of many corporate capital budgeting projects. The results are relevant for researchers and policymakers who are called upon to provide up-to-date public information regarding the net social discount rate and the social cost of carbon (SCC).
The following paper by Efthimios Dragotis, Despina A. Karayanni, and Androniki Kavoura investigates the broader impacts of corporate social responsibility (CSR) adoption, moving beyond its economic and financial outcomes to explore its influence on brand image, customers, employees, and how this implementation is affected by market competition.
The next study by Budi Chandra, Mardianto, Robin, and Tan Hardi examines how chief executive officer (CEO) succession and corporate governance shape climate change disclosure (CCD). The relevance of this research arises from the increasing regulatory and stakeholder demand for credible climate-related reporting and the limited evidence on how internal governance dynamics determine disclosure behavior.
Fejzulla Beha, Kimeta Gashi Brajshori, and Ejup Fejza examine how economic, environmental, and social sustainability indicators influence sustainable value added in the tourism sector across the 27 European Union (EU) member states. The purpose is to identify which sustainability dimensions support stronger long-term performance. The findings are relevant for policy efforts focused on green transition and long-term sector competitiveness.
Ali Salem Ali Al-Marri examines how Saudi Arabia’s evolving corporate governance framework integrates environmental, social, and governance (ESG) principles under Vision 2030. The study contributes to understanding how emerging economies can internalize sustainability principles through law, governance, and ethical reform consistent with Vision 2030’s transformative agenda.
The final research study by Albana Gjoni, Elona Fejzaj, Etleva Muça, Skënder Uku, Xhelentiona Mullaymeri, Silvana Nakuçi, and Shkëlqim Fortuzi aims to assess the important factors that influence the sustainable development of agriculture, the financial inclusion of farmers, as well as their perceptions regarding financial resources in Albania. The results of the study indicate the existence of barriers that prevent Albanian farmers from accessing financial resources and markets, relatively low financial inclusion, and low awareness of the benefits of developing sustainable agriculture.
The full issue of the journal is available at the following link.
We wish you a pleasant and informative reading!
