New issue of the Corporate Governance and Sustainability Review journal
The editorial team of Virtus Interpress is happy to introduce the first issue of the journal “Corporate Governance and Sustainability Review” in 2025. This issue explores relationships between entrepreneurial spirit, community empowerment, corporate reporting, environmental management, and social innovation—advancing our understanding of how organizations can pursue economic viability, social responsibility, and environmental stewardship simultaneously.
In the first article in this issue, Nathathai Rattanasuksri, Rattaphong Sonsuphap, and Thunwa Chatikavanij examine environmental, social, and governance (ESG) principles in Thailand’s rice industry. Their qualitative study involving 30 stakeholders identifies opportunities for optimizing resources, reducing costs, and improving farmer livelihoods through ESG practices. The research highlights the importance of public-private partnerships and supportive policies in establishing a sustainable, ESG-driven rice production system, which could serve as a model for other developing nations aspiring to implement sustainable agricultural practices.
The next study by Khalil Feghali, Reine Najem, and Beverly Dawn Metcalfe synthesizes contemporary research on greenwashing, examining its conceptual foundations, practices, impacts, and the efficacy of regulatory frameworks designed to curb its proliferation in environmental literature. The analysis of 90 peer-reviewed articles identifies themes including greenwashing symbolism, drivers, tactics, and effects on corporate performance and consumer trust. The review offers valuable insights for policymakers evaluating regulatory effectiveness and provides an essential knowledge foundation for emerging scholars in the field, while advancing critical perspectives on greenwashing research.
Sarjiyanto, Tulus Haryono, R. B. Radin Firdaus, and Ellena Dio Paska examine the entrepreneurial spirit’s role in enhancing business sustainability through group empowerment programs using the case of entrepreneurs in the Trangsan rattan industrial cluster in Sukoharjo, Central Java, Indonesia. Their regression analysis demonstrates that community empowerment significantly moderates the relationship between entrepreneurial spirit and business sustainability. This finding aligns with emerging research on community-based approaches to entrepreneurship development and highlights how targeted interventions empowering individuals with a strong entrepreneurial spirit can transform industrial clusters.
Thi Thanh Loan Nguyen, Ngoc Hung Dang, Manh Dung Tran, and Van Linh Nguyen provide a meta-analytical examination of sustainability reporting (SR) and corporate financial performance (CFP) in their study. Using 115 effect sizes from 30 studies, their analysis indicates a positive and significant overall relationship between SR and CFP, reinforcing the idea that SR contributes to improved financial performance. Additionally, the study explores the causal connection between SR and CFP, supporting various related theories.
The study by George Gatere Ruheni, Charles Mallans Rambo, Charles Misiko Wafula, and Mary Nyawira Mwenda aims to establish how socially responsible investing promotes the performance of climate-smart agricultural projects. The authors find that while such investing significantly influences project performance, contextual factors like drought and insecurity limit value addition effectiveness. This research highlights the importance of addressing fundamental public goods to support transitions from subsistence to commercial agriculture.
Arshi Rubab, Aftab Alam, Ehsanul Haque, Vardah Saghir, Farheen Siddiqui, Hiba Khan, and Neda Tasneem review 163 articles on ESG factors and sustainable investment decisions. Following the PRISMA protocol, they confirm that integrating ESG considerations positively influences investment decisions, with environmental factors receiving more research attention than social and governance aspects. This paper provides insights into the current trends and future directions in sustainable investment decision-making and incorporates important new information about the impact of ESG criteria on sustainable investing decisions.
The study by Syafii, Grahita Chandrarin, and Diana Zuhroh examines the relationship between tax planning (TP) and corporate social responsibility (CSR) in influencing tax disclosures (TDs). A research sample of 74 companies was carefully selected from the population of 787 manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2021. The findings showed that TP and CSR have a significant impact on TD in listed manufacturing companies in Indonesia. This study also highlights the importance of transparent TD in building trust and credibility among stakeholders.
Chatwarun Angasinha examines community welfare funds in Thailand as social innovation addressing welfare access inequality. Through qualitative research with 56 participants, the study shows how self-managed systems effectively address community needs through transparent volunteer-led committees and participatory decision-making.
Thi Phuong Dung, Nam Duong Tran, Nguyen Thi Thanh Diep, Van Tu Truong, Thi Lan Anh Nguyen, Van Trong Phi, Thi Huong Dao, Kien Xuan Pham, Thi Van Anh Duong, Manh Dung Tran, and Duc Hung Ha examine how green human resources management (GHRM) practices influence employee behavior and environmental performance in Vietnam’s hotel industry. This article is based on a survey of 250 employees of three to five-star hotels in Hanoi, Vietnam. Research results show that GHRM has a positive influence on the friendly behavior towards the pro-environment of hotel employees. The article found that the GHRM measures contribute to enhancing the hotel’s environmental cost performance by reducing materials use, and waste, reducing water cost, and electric costs, and enhancing the reputation of the hotel.
The issue ends with the study by Lady Karlinah, Meutia Meutia, Imam Abu Hanifah, and Iis Ismawati, who explore the relationship between corporate social responsibility (CSR) and tax practices. Their study of 62 Indonesian companies reveals that while firm size showed no significant impact on tax avoidance, the capital intensity ratio positively influenced it. These results contribute to the understanding of CSR’s dual role in corporate tax strategies and offer insights for policymakers and researchers concerned with tax compliance and corporate governance.
The full issue of the journal is available at the following link.
We wish you a pleasant and informative reading!
