---
_id: '7890'
abstract:
- lang: eng
text: 'The purpose of this paper is to convey a thorough understanding of the governance-related
determinants and financial consequences of carbon performance and disclosure.
Its motivation lies in the increasing global political, social, academic as well
as practical importance of managing and reporting on carbon-related issues. Methodologically,
we employ a systematic literature review. Thus, we identify 73 quantitative peer-reviewed
empirical studies in this field and categorize them according to a legitimacy-theory-based
framework. Our four main contributions offer new insights into this emerging research
field and provide guidance for the development of new research models: First,
we help future researchers to structure this emerging field of research with respect
to the interactions of the phenomenon itself (carbon performance vs. disclosure),
its determinants (country- and firm-related governance), and its financial consequences
(value relevance, information asymmetry, financial performance, and cost of capital).
Second, we provide a comprehensive overview of variables and proxies used in the
studies and list their main statistical effects, which facilitates building novel
models. There are indications that 1) board composition positively influences
both carbon performance and disclosure, 2) carbon performance and carbon disclosure
are positively connected, 3) carbon disclosure reduces information asymmetry,
and 4) carbon performance increases financial performance. Third, we develop a
research agenda with concise suggestions for future studies. Fourth, we argue
that due to the under-theorization of concepts the comparability of included studies
is challenging, this research field may be characterized as a vibrant field for
extensive future research. (C) 2020 Elsevier Ltd. All rights reserved.'
article_number: '120063'
author:
- first_name: Patrick
full_name: Velte, Patrick
last_name: Velte
- first_name: Martin
full_name: Stawinoga, Martin
id: '68681'
last_name: Stawinoga
- first_name: Rainer
full_name: Lueg, Rainer
last_name: Lueg
citation:
ama: 'Velte P, Stawinoga M, Lueg R. Carbon performance and disclosure: A systematic
review of governance-related determinants and financial consequences. Journal
of Cleaner Production. 2020;254. doi:10.1016/j.jclepro.2020.120063'
apa: 'Velte, P., Stawinoga, M., & Lueg, R. (2020). Carbon performance and disclosure:
A systematic review of governance-related determinants and financial consequences.
Journal of Cleaner Production, 254, Article 120063. https://doi.org/10.1016/j.jclepro.2020.120063'
bjps: 'Velte P, Stawinoga M and Lueg R (2020) Carbon Performance and Disclosure:
A Systematic Review of Governance-Related Determinants and Financial Consequences.
Journal of Cleaner Production 254.'
chicago: 'Velte, Patrick, Martin Stawinoga, and Rainer Lueg. “Carbon Performance
and Disclosure: A Systematic Review of Governance-Related Determinants and Financial
Consequences.” Journal of Cleaner Production 254 (2020). https://doi.org/10.1016/j.jclepro.2020.120063.'
chicago-de: 'Velte, Patrick, Martin Stawinoga und Rainer Lueg. 2020. Carbon performance
and disclosure: A systematic review of governance-related determinants and financial
consequences. Journal of Cleaner Production 254. doi:10.1016/j.jclepro.2020.120063,
.'
din1505-2-1: 'Velte, Patrick ; Stawinoga, Martin ; Lueg,
Rainer: Carbon performance and disclosure: A systematic review of governance-related
determinants and financial consequences. In: Journal of Cleaner Production
Bd. 254. Amsterdam [u.a.], Elsevier (2020)'
havard: 'P. Velte, M. Stawinoga, R. Lueg, Carbon performance and disclosure: A systematic
review of governance-related determinants and financial consequences, Journal
of Cleaner Production. 254 (2020).'
ieee: 'P. Velte, M. Stawinoga, and R. Lueg, “Carbon performance and disclosure:
A systematic review of governance-related determinants and financial consequences,”
Journal of Cleaner Production, vol. 254, Art. no. 120063, 2020, doi: 10.1016/j.jclepro.2020.120063.'
mla: 'Velte, Patrick, et al. “Carbon Performance and Disclosure: A Systematic Review
of Governance-Related Determinants and Financial Consequences.” Journal of
Cleaner Production, vol. 254, 120063, 2020, https://doi.org/10.1016/j.jclepro.2020.120063.'
short: P. Velte, M. Stawinoga, R. Lueg, Journal of Cleaner Production 254 (2020).
ufg: 'Velte, Patrick/Stawinoga, Martin/Lueg, Rainer: Carbon performance and
disclosure: A systematic review of governance-related determinants and financial
consequences, in: Journal of Cleaner Production 254 (2020).'
van: 'Velte P, Stawinoga M, Lueg R. Carbon performance and disclosure: A systematic
review of governance-related determinants and financial consequences. Journal
of Cleaner Production. 2020;254.'
date_created: 2022-05-03T06:22:51Z
date_updated: 2025-06-26T13:27:09Z
department:
- _id: DEP1507
doi: 10.1016/j.jclepro.2020.120063
external_id:
isi:
- '000518890800021'
intvolume: ' 254'
isi: '1'
jel:
- M41
keyword:
- Carbon performance
- Carbon disclosure
- Corporate governance
- Management control
- Financial performance
- Legitimacy theory
language:
- iso: eng
place: ' Amsterdam [u.a.]'
publication: Journal of Cleaner Production
publication_identifier:
eissn:
- 1879-1786
issn:
- 0959-6526
publication_status: published
publisher: Elsevier
quality_controlled: '1'
status: public
title: 'Carbon performance and disclosure: A systematic review of governance-related
determinants and financial consequences'
type: scientific_journal_article
user_id: '83781'
volume: 254
year: '2020'
...
---
_id: '7891'
author:
- first_name: Julija
full_name: Winschel, Julija
last_name: Winschel
- first_name: Martin
full_name: Stawinoga, Martin
id: '68681'
last_name: Stawinoga
citation:
ama: 'Winschel J, Stawinoga M. Determinants and effects of sustainable CEO compensation:
a structured literature review of empirical evidence. Management Review Quarterly.
2019;69:265-328. doi:10.1007/s11301-019-00154-9'
apa: 'Winschel, J., & Stawinoga, M. (2019). Determinants and effects of sustainable
CEO compensation: a structured literature review of empirical evidence. Management
Review Quarterly, 69, 265–328. https://doi.org/10.1007/s11301-019-00154-9'
bjps: 'Winschel J and Stawinoga M (2019) Determinants and Effects of Sustainable
CEO Compensation: A Structured Literature Review of Empirical Evidence. Management
Review Quarterly 69, 265–328.'
chicago: 'Winschel, Julija, and Martin Stawinoga. “Determinants and Effects of Sustainable
CEO Compensation: A Structured Literature Review of Empirical Evidence.” Management
Review Quarterly 69 (2019): 265–328. https://doi.org/10.1007/s11301-019-00154-9.'
chicago-de: 'Winschel, Julija und Martin Stawinoga. 2019. Determinants and effects
of sustainable CEO compensation: a structured literature review of empirical evidence.
Management Review Quarterly 69: 265–328. doi:10.1007/s11301-019-00154-9,
.'
din1505-2-1: 'Winschel, Julija ; Stawinoga, Martin: Determinants and effects
of sustainable CEO compensation: a structured literature review of empirical evidence.
In: Management Review Quarterly Bd. 69. Berlin, Springer (2019), S. 265–328'
havard: 'J. Winschel, M. Stawinoga, Determinants and effects of sustainable CEO
compensation: a structured literature review of empirical evidence, Management
Review Quarterly. 69 (2019) 265–328.'
ieee: 'J. Winschel and M. Stawinoga, “Determinants and effects of sustainable CEO
compensation: a structured literature review of empirical evidence,” Management
Review Quarterly, vol. 69, pp. 265–328, 2019.'
mla: 'Winschel, Julija, and Martin Stawinoga. “Determinants and Effects of Sustainable
CEO Compensation: A Structured Literature Review of Empirical Evidence.” Management
Review Quarterly, vol. 69, Springer, 2019, pp. 265–328, doi:10.1007/s11301-019-00154-9.'
short: J. Winschel, M. Stawinoga, Management Review Quarterly 69 (2019) 265–328.
ufg: 'Winschel, Julija/Stawinoga, Martin (2019): Determinants and effects
of sustainable CEO compensation: a structured literature review of empirical evidence,
in: Management Review Quarterly 69, S. 265–328.'
van: 'Winschel J, Stawinoga M. Determinants and effects of sustainable CEO compensation:
a structured literature review of empirical evidence. Management Review Quarterly.
2019;69:265–328.'
conference:
end_date: 2018-11-06
location: Brussels, Belgiuu
name: 15th WORKSHOP ON CORPORATE GOVERNANCE
start_date: 2018-11-05
date_created: 2022-05-03T06:34:20Z
date_updated: 2023-03-15T13:50:12Z
department:
- _id: DEP1507
doi: 10.1007/s11301-019-00154-9
intvolume: ' 69'
jel:
- M12
keyword:
- CEO Sustainable CEO compensation Structured literature review Corporate
governance Principal agent theory Stakeholder-agency theory Behavioral-agency
theory
language:
- iso: eng
page: 265-328
place: Berlin
publication: Management Review Quarterly
publication_identifier:
issn:
- 2198-1620
- 2198-1639
publication_status: published
publisher: Springer
status: public
title: 'Determinants and effects of sustainable CEO compensation: a structured literature
review of empirical evidence'
type: scientific_journal_article
user_id: '15514'
volume: 69
year: 2019
...
---
_id: '7895'
author:
- first_name: Patrick
full_name: Velte, Patrick
last_name: Velte
- first_name: Martin
full_name: Stawinoga, Martin
id: '68681'
last_name: Stawinoga
citation:
ama: 'Velte P, Stawinoga M. Empirical research on corporate social responsibility
assurance (CSRA): A literature review. Journal of Business Economics. 2017;87:1017-1066.
doi:10.1007/s11573-016-0844-2'
apa: 'Velte, P., & Stawinoga, M. (2017). Empirical research on corporate social
responsibility assurance (CSRA): A literature review. Journal of Business Economics,
87, 1017–1066. https://doi.org/10.1007/s11573-016-0844-2'
bjps: 'Velte P and Stawinoga M (2017) Empirical Research on Corporate Social
Responsibility Assurance (CSRA): A Literature Review. Journal of Business Economics
87, 1017–1066.'
chicago: 'Velte, Patrick, and Martin Stawinoga. “Empirical Research on Corporate
Social Responsibility Assurance (CSRA): A Literature Review.” Journal of Business
Economics 87 (2017): 1017–66. https://doi.org/10.1007/s11573-016-0844-2.'
chicago-de: 'Velte, Patrick und Martin Stawinoga. 2017. Empirical research on corporate
social responsibility assurance (CSRA): A literature review. Journal of Business
Economics 87: 1017–1066. doi:10.1007/s11573-016-0844-2,
.'
din1505-2-1: 'Velte, Patrick ; Stawinoga, Martin: Empirical research
on corporate social responsibility assurance (CSRA): A literature review. In:
Journal of Business Economics Bd. 87. Berlin, Springer (2017), S. 1017–1066'
havard: 'P. Velte, M. Stawinoga, Empirical research on corporate social responsibility
assurance (CSRA): A literature review, Journal of Business Economics. 87 (2017)
1017–1066.'
ieee: 'P. Velte and M. Stawinoga, “Empirical research on corporate social responsibility
assurance (CSRA): A literature review,” Journal of Business Economics,
vol. 87, pp. 1017–1066, 2017.'
mla: 'Velte, Patrick, and Martin Stawinoga. “Empirical Research on Corporate Social
Responsibility Assurance (CSRA): A Literature Review.” Journal of Business
Economics, vol. 87, Springer, 2017, pp. 1017–66, doi:10.1007/s11573-016-0844-2.'
short: P. Velte, M. Stawinoga, Journal of Business Economics 87 (2017) 1017–1066.
ufg: 'Velte, Patrick/Stawinoga, Martin (2017): Empirical research on corporate
social responsibility assurance (CSRA): A literature review, in: Journal of
Business Economics 87, S. 1017–1066.'
van: 'Velte P, Stawinoga M. Empirical research on corporate social responsibility
assurance (CSRA): A literature review. Journal of Business Economics. 2017;87:1017–66.'
date_created: 2022-05-03T07:01:20Z
date_updated: 2023-03-15T13:50:12Z
department:
- _id: DEP1507
doi: 10.1007/s11573-016-0844-2
intvolume: ' 87'
jel:
- G34
keyword:
- CSR assurance CSR reporting Stakeholder management Corporate governance Assurance
level Assurance provider
language:
- iso: eng
page: 1017-1066
place: Berlin
publication: Journal of Business Economics
publication_identifier:
issn:
- 0044-2372
- 1861-8928
publication_status: published
publisher: Springer
quality_controlled: '1'
status: public
title: 'Empirical research on corporate social responsibility assurance (CSRA): A
literature review'
type: scientific_journal_article
user_id: '15514'
volume: 87
year: 2017
...
---
_id: '7943'
author:
- first_name: Stefan
full_name: Müller, Stefan
last_name: Müller
- first_name: Martin
full_name: Stawinoga, Martin
id: '68681'
last_name: Stawinoga
- first_name: Patrick
full_name: Velte, Patrick
last_name: Velte
citation:
ama: Müller S, Stawinoga M, Velte P. Stakeholder expectations on CSR management
and current regulatory developments in Europe and Germany. Corporate ownership
& control. 2015;(4):506-513. doi:https://doi.org/10.22495/cocv12i4c4p8
apa: Müller, S., Stawinoga, M., & Velte, P. (2015). Stakeholder expectations
on CSR management and current regulatory developments in Europe and Germany. Corporate
Ownership & Control, (4), 506–513. https://doi.org/10.22495/cocv12i4c4p8
bjps: Müller S, Stawinoga M and Velte P (2015) Stakeholder Expectations on
CSR Management and Current Regulatory Developments in Europe and Germany. Corporate
ownership & control 506–513.
chicago: 'Müller, Stefan, Martin Stawinoga, and Patrick Velte. “Stakeholder Expectations
on CSR Management and Current Regulatory Developments in Europe and Germany.”
Corporate Ownership & Control, no. 4 (2015): 506–13. https://doi.org/10.22495/cocv12i4c4p8.'
chicago-de: 'Müller, Stefan, Martin Stawinoga und Patrick Velte. 2015. Stakeholder
expectations on CSR management and current regulatory developments in Europe and
Germany. Corporate ownership & control, Nr. 4: 506–513. doi:https://doi.org/10.22495/cocv12i4c4p8,
.'
din1505-2-1: 'Müller, Stefan ; Stawinoga, Martin ; Velte,
Patrick: Stakeholder expectations on CSR management and current regulatory
developments in Europe and Germany. In: Corporate ownership & control.
Sumy, Virtus Interpress (2015), Nr. 4, S. 506–513'
havard: S. Müller, M. Stawinoga, P. Velte, Stakeholder expectations on CSR management
and current regulatory developments in Europe and Germany, Corporate Ownership
& Control. (2015) 506–513.
ieee: S. Müller, M. Stawinoga, and P. Velte, “Stakeholder expectations on CSR management
and current regulatory developments in Europe and Germany,” Corporate ownership
& control, no. 4, pp. 506–513, 2015.
mla: Müller, Stefan, et al. “Stakeholder Expectations on CSR Management and Current
Regulatory Developments in Europe and Germany.” Corporate Ownership & Control,
no. 4, Virtus Interpress , 2015, pp. 506–13, doi:https://doi.org/10.22495/cocv12i4c4p8.
short: S. Müller, M. Stawinoga, P. Velte, Corporate Ownership & Control (2015)
506–513.
ufg: 'Müller, Stefan et. al. (2015): Stakeholder expectations on CSR management
and current regulatory developments in Europe and Germany, in: Corporate ownership
& control (4), S. 506–513.'
van: Müller S, Stawinoga M, Velte P. Stakeholder expectations on CSR management
and current regulatory developments in Europe and Germany. Corporate ownership
& control. 2015;(4):506–13.
date_created: 2022-05-05T08:32:18Z
date_updated: 2023-03-15T13:50:12Z
department:
- _id: DEP1507
doi: https://doi.org/10.22495/cocv12i4c4p8
extern: '1'
issue: '4'
keyword:
- Corporate Disclosure
- Stakeholder Relations
- Corporate Social Responsibility Management
- CSR reporting
- Corporate Governance
language:
- iso: eng
page: 506-513
place: ' Sumy'
publication: Corporate ownership & control
publication_identifier:
issn:
- 1727-9232
unknown:
- 1810-3057
publication_status: published
publisher: 'Virtus Interpress '
status: public
title: Stakeholder expectations on CSR management and current regulatory developments
in Europe and Germany
type: scientific_journal_article
user_id: '68681'
year: 2015
...
---
_id: '7947'
author:
- first_name: Martin
full_name: Stawinoga, Martin
id: '68681'
last_name: Stawinoga
- first_name: Patrick
full_name: Velte, Patrick
last_name: Velte
citation:
ama: Stawinoga M, Velte P. CSR management and reporting between voluntary bonding
and legal regulation. First empirical insights of the compliance to the German
Sustainability Code. Problems and Perspectives in Management. 2015;13(2):36-50.
apa: Stawinoga, M., & Velte, P. (2015). CSR management and reporting between
voluntary bonding and legal regulation. First empirical insights of the compliance
to the German Sustainability Code. Problems and Perspectives in Management,
13(2), 36–50.
bjps: Stawinoga M and Velte P (2015) CSR Management and Reporting between
Voluntary Bonding and Legal Regulation. First Empirical Insights of the Compliance
to the German Sustainability Code. Problems and Perspectives in Management
13, 36–50.
chicago: 'Stawinoga, Martin, and Patrick Velte. “CSR Management and Reporting between
Voluntary Bonding and Legal Regulation. First Empirical Insights of the Compliance
to the German Sustainability Code.” Problems and Perspectives in Management
13, no. 2 (2015): 36–50.'
chicago-de: 'Stawinoga, Martin und Patrick Velte. 2015. CSR management and reporting
between voluntary bonding and legal regulation. First empirical insights of the
compliance to the German Sustainability Code. Problems and Perspectives in
Management 13, Nr. 2: 36–50.'
din1505-2-1: 'Stawinoga, Martin ;
Velte, Patrick: CSR management and
reporting between voluntary bonding and legal regulation. First empirical insights
of the compliance to the German Sustainability Code. In: Problems and Perspectives
in Management Bd. 13. Sumy, Business Perspectives (2015), Nr. 2, S. 36–50'
havard: M. Stawinoga, P. Velte, CSR management and reporting between voluntary bonding
and legal regulation. First empirical insights of the compliance to the German
Sustainability Code, Problems and Perspectives in Management. 13 (2015) 36–50.
ieee: M. Stawinoga and P. Velte, “CSR management and reporting between voluntary
bonding and legal regulation. First empirical insights of the compliance to the
German Sustainability Code,” Problems and Perspectives in Management, vol.
13, no. 2, pp. 36–50, 2015.
mla: Stawinoga, Martin, and Patrick Velte. “CSR Management and Reporting between
Voluntary Bonding and Legal Regulation. First Empirical Insights of the Compliance
to the German Sustainability Code.” Problems and Perspectives in Management,
vol. 13, no. 2, Business Perspectives, 2015, pp. 36–50.
short: M. Stawinoga, P. Velte, Problems and Perspectives in Management 13 (2015)
36–50.
ufg: 'Stawinoga, Martin/Velte, Patrick (2015): CSR management and reporting
between voluntary bonding and legal regulation. First empirical insights of the
compliance to the German Sustainability Code, in: Problems and Perspectives
in Management 13 (2), S. 36–50.'
van: Stawinoga M, Velte P. CSR management and reporting between voluntary bonding
and legal regulation. First empirical insights of the compliance to the German
Sustainability Code. Problems and Perspectives in Management. 2015;13(2):36–50.
date_created: 2022-05-05T09:00:39Z
date_updated: 2023-03-15T13:50:12Z
department:
- _id: DEP1507
extern: '1'
intvolume: ' 13'
issue: '2'
jel:
- G34
keyword:
- corporate governance
- business reporting
- CSR reporting
- CSR management.
language:
- iso: eng
main_file_link:
- open_access: '1'
url: https://www.businessperspectives.org/index.php/component/zoo/csr-management-and-reporting-between-voluntary-bonding-and-legal-regulation-first-empirical-insights-of-the-compliance-to-the-german-sustainability-code
oa: '1'
page: 36-50
place: Sumy
publication: Problems and Perspectives in Management
publication_identifier:
eissn:
- '1810-5467 '
issn:
- 1727-7051
publication_status: published
publisher: Business Perspectives
quality_controlled: '1'
status: public
title: CSR management and reporting between voluntary bonding and legal regulation.
First empirical insights of the compliance to the German Sustainability Code
type: scientific_journal_article
user_id: '68681'
volume: 13
year: 2015
...