Guest editorial: Special issue on “corporate governance and sustainability”

Aymen Turki (), Yves Rannou (), Jean-François Gajewski and Yves Mard ()
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Aymen Turki: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne
Yves Rannou: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne
Jean-François Gajewski: UJML - Université Jean Moulin - Lyon 3 - Université de Lyon
Yves Mard: UCA - Université Clermont Auvergne

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Abstract: As environmental, social, and governance (ESG) issues become more prominent in corporate strategies across Asian emerging markets, it becomes critical to understand the corporate governance factors that shape ESG values, practices, and outcomes, particularly within the unique economic context of China. This editorial draws on seven recent empirical studies exploring the nuanced effects of formal institutions (government subsidies, State participation, ratings), informal norms (Confucian culture, social trust), and micro-level features of CEOs and board on ESG performance and ESG-/green-washing risk. From the lens of stakeholder theory, institutional theory, and resource-based view, these studies highlight that effective corporate sustainability is governed by a complex interplay of standard corporate governance mechanisms and distinctive institutional and cultural context. The editorial integrates these insights, emphasizing the need for integrative ESG policy framework that combine incentives, scrutiny, and cultural embeddedness to mitigate ESG-washing and enhance ESG values and corporate value creation within largest emerging markets.

Keywords: Corporate governance; Emerging capital markets; Environmental; ESG-/green-washing; Social; and governance (ESG) (search for similar items in EconPapers)
Date: 2026-06-01
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Published in Economic Analysis and Policy, 2026, 91, pp.1788 - 1797. ⟨10.1016/j.eap.2025.12.024⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05731817

DOI: 10.1016/j.eap.2025.12.024

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