Sustainability Reporting and Firm Performance: A Thematic Empirical Review

Stanley Chinonso Nnedu
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Stanley Chinonso Nnedu: Accounting Department, Veritas University, Abuja, Nigeria

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 12, 901-912

Abstract: This study investigates the relationship between sustainability reporting and firm performance through a comprehensive thematic review, focusing on the economic, social, and environmental dimensions. Data was collected through a rigorous search of relevant academic literature published between 2018 and 2024. Employing content analysis, the study synthesizes empirical findings across various sectors and regions. The analysis reveals that sustainability reporting can enhance financial performance by improving transparency, stakeholder trust, and operational efficiency. However, its impact is highly context-dependent. Economic reporting fosters investor confidence and reduces financing costs but may signal inefficiencies in emerging markets. Social reporting strengthens brand loyalty and stakeholder engagement but involves high implementation costs that could strain short-term financial outcomes. Environmental reporting is particularly effective in resource-intensive sectors, enhancing regulatory compliance and investor trust. The conclusions emphasize the need for tailored reporting strategies aligned with sectoral, regional, and stakeholder dynamics to maximize benefits and mitigate risks. Recommendations include integrating sustainability practices into core business strategies to drive long-term value creation and adopting sector-specific approaches to balance profitability with societal expectations. Future research should explore moderating variables such as governance quality, industry sensitivity, and stakeholder pressure to deepen understanding of how sustainability reporting influences financial outcomes. This study advances knowledge on sustainability reporting as a strategic tool for corporate success and offers actionable insights for businesses, policymakers, and researchers.

Date: 2024
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