IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i21p12015-d668789.html
   My bibliography  Save this article

Risk Governance and Sustainability: A Scientometric Analysis and Literature Review

Author

Listed:
  • Huijie Li

    (School of Public Administration, Jilin University, Changchun 130012, China)

  • Jie Li

    (National Science Library, Chinese Academy of Sciences, Beijing 100190, China
    College of Safety Science and Engineering, Liaoning Technical University, Huludao 125105, China
    State Key Laboratory of Explosion Science and Technology, Beijing Institute of Technology, Beijing 100081, China)

Abstract

The outbreak of COVID-19 evoked a heated discussion of its drivers and extensive impacts on achieving sustainable development goals. Considering the deepening global interconnectedness and complex human–environment interactions, it calls for a clarity of the two concepts of risk governance and sustainability and their relationships. In this paper, a comprehensive review was provided based on scientometric analysis. A total number of 1156 published papers were studied and a considerable increase of interest in this line of research was found. The research outputs show the interdisciplinary feature of this field but with a focus on environmental issues. The journal “Sustainability” was found to be the most productive journal. Geographic and institutional focus on the line of research were also visualized. Five salient research themes were identified as follows: (1) Resilience and adaptation to climate change; (2) Urban risk governance and sustainability; (3) Environmental governance and transformation; (4) Collaborative governance and policy integration; and (5) Corporate governance and sustainability. This paper provides insights into the heterogeneity of the risk governance and sustainability research. Additionally, the study unveiled the implicit relationship linking risk governance and sustainability: risk governance can be a process of participation and coordination, and a means of coping with the uncertainty and complexity to achieve sustainable outcomes. On the other hand, risk governance is a constant aim to be optimized in the process of sustainable development.

Suggested Citation

  • Huijie Li & Jie Li, 2021. "Risk Governance and Sustainability: A Scientometric Analysis and Literature Review," Sustainability, MDPI, vol. 13(21), pages 1-18, October.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:21:p:12015-:d:668789
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/21/12015/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/21/12015/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Yahua Wang & Xiangning Chen, 2020. "River chief system as a collaborative water governance approach in China," International Journal of Water Resources Development, Taylor & Francis Journals, vol. 36(4), pages 610-630, July.
    2. Alexander Pinz & Nahid Roudyani & Julia Thaler, 2018. "Public–private partnerships as instruments to achieve sustainability-related objectives: the state of the art and a research agenda," Public Management Review, Taylor & Francis Journals, vol. 20(1), pages 1-22, January.
    3. Nicolás Gambetta & Fernando Azcárate-Llanes & Laura Sierra-García & María Antonia García-Benau, 2021. "Financial Institutions’ Risk Profile and Contribution to the Sustainable Development Goals," Sustainability, MDPI, vol. 13(14), pages 1-15, July.
    4. Underdal, Arild, 1980. "Integrated marine policy : What? Why? How?," Marine Policy, Elsevier, vol. 4(3), pages 159-169, July.
    5. Doyeon Lee & Jongseok Kang & Keunhwan Kim, 2020. "Global Collaboration Research Strategies for Sustainability in the Post COVID-19 Era: Analyzing Virology-Related National-Funded Projects," Sustainability, MDPI, vol. 12(16), pages 1-18, August.
    6. Christian Walter, 2020. "Sustainable Financial Risk Modelling Fitting the SDGs: Some Reflections," Sustainability, MDPI, vol. 12(18), pages 1-28, September.
    7. John C. Boik, 2020. "Science-Driven Societal Transformation, Part I: Worldview," Sustainability, MDPI, vol. 12(17), pages 1-28, August.
    8. Akrum Helfaya & Tantawy Moussa, 2017. "Do Board's Corporate Social Responsibility Strategy and Orientation Influence Environmental Sustainability Disclosure? UK Evidence," Business Strategy and the Environment, Wiley Blackwell, vol. 26(8), pages 1061-1077, December.
    9. John C. Boik, 2020. "Science-Driven Societal Transformation, Part II: Motivation and Strategy," Sustainability, MDPI, vol. 12(19), pages 1-23, September.
    10. Ries Kamphof & Jan Melissen, 2018. "SDGs, Foreign Ministries and the Art of Partnering with the Private Sector," Global Policy, London School of Economics and Political Science, vol. 9(3), pages 327-335, September.
    11. Martins, Ana Cravinho & Marques, Rui Cunha & Cruz, Carlos Oliveira, 2011. "Public-private partnerships for wind power generation: The Portuguese case," Energy Policy, Elsevier, vol. 39(1), pages 94-104, January.
    12. Rezaee, Zabihollah, 2016. "Business sustainability research: A theoretical and integrated perspective," Journal of Accounting Literature, Elsevier, vol. 36(C), pages 48-64.
    13. Yvan Renou & Thomas Bolognesi, 2019. "Governing urban water services in Europe: Towards sustainable synchronous regimes," Post-Print halshs-01985168, HAL.
    14. Margot Hurlbert & Joyeeta Gupta, 2016. "Adaptive Governance, Uncertainty, and Risk: Policy Framing and Responses to Climate Change, Drought, and Flood," Risk Analysis, John Wiley & Sons, vol. 36(2), pages 339-356, February.
    15. Walter Leal Filho & Luciana Londero Brandli & Amanda Lange Salvia & Lez Rayman-Bacchus & Johannes Platje, 2020. "COVID-19 and the UN Sustainable Development Goals: Threat to Solidarity or an Opportunity?," Sustainability, MDPI, vol. 12(13), pages 1-14, July.
    16. Michael Schoon & Michael E. Cox, 2018. "Collaboration, Adaptation, and Scaling: Perspectives on Environmental Governance for Sustainability," Sustainability, MDPI, vol. 10(3), pages 1-9, March.
    17. Melissa A. Schilling & H. Kevin Steensma, 2002. "Disentangling the Theories of Firm Boundaries: A Path Model and Empirical Test," Organization Science, INFORMS, vol. 13(4), pages 387-401, August.
    18. Rosalia G. Castillo-Villar, 2020. "Identifying determinants of CSR implementation on SDG 17 partnerships for the goals," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1847989-184, January.
    19. Eva Lieberherr & Andreas Klinke & Matthias Finger, 2011. "Towards Legitimate Water Governance?," Public Management Review, Taylor & Francis Journals, vol. 14(7), pages 923-946, December.
    20. Narjess Boubakri & Sattar A Mansi & Walid Saffar, 2013. "Political institutions, connectedness, and corporate risk-taking," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 44(3), pages 195-215, April.
    21. Ortwin Renn & Andreas Klinke, 2013. "A Framework of Adaptive Risk Governance for Urban Planning," Sustainability, MDPI, vol. 5(5), pages 1-24, May.
    22. John C. Boik, 2020. "Science-Driven Societal Transformation, Part III: Design," Working Paper 0012, Principled Societies Project.
    23. Aengus Collins & Marie-Valentine Florin & Ortwin Renn, 2020. "COVID-19 risk governance: drivers, responses and lessons to be learned," Journal of Risk Research, Taylor & Francis Journals, vol. 23(7-8), pages 1073-1082, August.
    24. Nees Jan Eck & Ludo Waltman, 2010. "Software survey: VOSviewer, a computer program for bibliometric mapping," Scientometrics, Springer;Akadémiai Kiadó, vol. 84(2), pages 523-538, August.
    25. Catherine Benoit-Norris & Deana Aulisio Cavan & Gregory Norris, 2012. "Identifying Social Impacts in Product Supply Chains:Overview and Application of the Social Hotspot Database," Sustainability, MDPI, vol. 4(9), pages 1-20, August.
    26. Chollet, Pierre & Sandwidi, Blaise W., 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Global Finance Journal, Elsevier, vol. 38(C), pages 65-81.
    27. Phan, Hieu V. & Nguyen, Nam H. & Nguyen, Hien T. & Hegde, Shantaram, 2019. "Policy uncertainty and firm cash holdings," Journal of Business Research, Elsevier, vol. 95(C), pages 71-82.
    28. Cristina Gimenez & Vicenta Sierra, 2013. "Sustainable Supply Chains: Governance Mechanisms to Greening Suppliers," Journal of Business Ethics, Springer, vol. 116(1), pages 189-203, August.
    29. Nan He & Yijing Li & Huimin Li & Ziqi Liu & Chengyi Zhang, 2020. "Critical Factors to Achieve Sustainability of Public-Private Partnership Projects in the Water Sector: A Stakeholder-Oriented Network Perspective," Complexity, Hindawi, vol. 2020, pages 1-17, November.
    30. Ming-Lang Tseng & Phan Anh Tan & Shiou-Yun Jeng & Chun-Wei Remen Lin & Yeneneh Tamirat Negash & Susilo Nur Aji Cokro Darsono, 2019. "Sustainable Investment: Interrelated among Corporate Governance, Economic Performance and Market Risks Using Investor Preference Approach," Sustainability, MDPI, vol. 11(7), pages 1-15, April.
    31. Miriam Matejova & Chad M. Briggs, 2021. "Embracing the Darkness: Methods for Tackling Uncertainty and Complexity in Environmental Disaster Risks," Global Environmental Politics, MIT Press, vol. 21(1), pages 76-88, Winter.
    32. Mubashir Qasim, 2017. "Sustainability And Wellbeing: A Scientometric And Bibliometric Review Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 31(4), pages 1035-1061, September.
    33. Donald S. Siegel & Donald F. Vitaliano, 2007. "An Empirical Analysis of the Strategic Use of Corporate Social Responsibility," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(3), pages 773-792, September.
    34. Julian F. Kölbel & Timo Busch & Leonhardt M. Jancso, 2017. "How Media Coverage of Corporate Social Irresponsibility Increases Financial Risk," Strategic Management Journal, Wiley Blackwell, vol. 38(11), pages 2266-2284, November.
    35. Gary Peters & Andrea Romi, 2014. "Does the Voluntary Adoption of Corporate Governance Mechanisms Improve Environmental Risk Disclosures? Evidence from Greenhouse Gas Emission Accounting," Journal of Business Ethics, Springer, vol. 125(4), pages 637-666, December.
    36. Hania Rehman & Muhammad Ramzan & Muhammad Zia Ul Haq & Jinsoo Hwang & Kyoung-Bae Kim, 2021. "Risk Management in Corporate Governance Framework," Sustainability, MDPI, vol. 13(9), pages 1-17, April.
    37. Víctor Meseguer-Sánchez & Francisco Jesús Gálvez-Sánchez & Gabriel López-Martínez & Valentín Molina-Moreno, 2021. "Corporate Social Responsibility and Sustainability. A Bibliometric Analysis of Their Interrelations," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    38. Boubaker, Sabri & Cellier, Alexis & Manita, Riadh & Saeed, Asif, 2020. "Does corporate social responsibility reduce financial distress risk?," Economic Modelling, Elsevier, vol. 91(C), pages 835-851.
    39. Pierre Chollet & Blaise Sandwidi, 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Post-Print hal-02048716, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Juan David González-Ruiz & Sergio Botero-Botero & Alejandro Peña, 2022. "Analysis of the Capital Structure in Sustainable Infrastructure Systems: A Methodological Approach," Sustainability, MDPI, vol. 14(19), pages 1-21, October.
    2. Nini Johana Marín-Rodríguez & Juan David González-Ruiz & Alejandro Valencia-Arias, 2023. "Sustainability, Uncertainty, and Risk: Time-Frequency Relationships," Sustainability, MDPI, vol. 15(18), pages 1-18, September.
    3. Browne, Geoffrey R. & Hürlimann, Anna C. & March, Alan & Bush, Judy & Warren-Myers, Georgia & Moosavi, Sareh, 2024. "Better policy to support climate change action in the built environment: A framework to analyse and design a policy portfolio," Land Use Policy, Elsevier, vol. 145(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charl de Villiers & Jing Jia & Zhongtian Li, 2022. "Corporate social responsibility: A review of empirical research using Thomson Reuters Asset4 data," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(4), pages 4523-4568, December.
    2. John C. Boik, 2020. "Science-Driven Societal Transformation, Part II: Motivation and Strategy," Sustainability, MDPI, vol. 12(19), pages 1-23, September.
    3. Simona Galletta & Sebastiano Mazzù & Valeria Naciti, 2021. "Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2656-2670, July.
    4. Anita Mendiratta & Shveta Singh & Surendra Singh Yadav & Arvind Mahajan, 2023. "Bibliometric and Topic Modeling Analysis of Corporate Social Irresponsibility," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(3), pages 319-339, September.
    5. Muhammad Azeem Qureshi & Minhas Akbar & Ahsan Akbar & Petra Poulova, 2021. "Do ESG Endeavors Assist Firms in Achieving Superior Financial Performance? A Case of 100 Best Corporate Citizens," SAGE Open, , vol. 11(2), pages 21582440211, June.
    6. Rezaee, Zabihollah & Dou, Huan & Zhang, Huili, 2020. "Corporate social responsibility and earnings quality: Evidence from China," Global Finance Journal, Elsevier, vol. 45(C).
    7. Naseer, Mirza Muhammad & Guo, Yongsheng & Bagh, Tanveer & Zhu, Xiaoxian, 2024. "Sustainable investments in volatile times: Nexus of climate change risk, ESG practices, and market volatility," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    8. Yin Shi & Xiaoni Li & Maher Asal, 2023. "Impact of sustainability on financial distress in the air transport industry: the moderating effect of Asia–Pacific," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-23, December.
    9. Naumer, Hans-Jörg & Yurtoglu, Burcin, 2022. "It is not only what you say, but how you say it: ESG, corporate news, and the impact on CDS spreads," Global Finance Journal, Elsevier, vol. 52(C).
    10. Zhu, Danyu & Gao, Xin & Luo, Zijun & Xu, Weidong, 2022. "Environmental performance and corporate risk-taking: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    11. Rudy Vannevel & Peter L. M. Goethals, 2021. "Structural and Contentual Complexity in Water Governance," Sustainability, MDPI, vol. 13(17), pages 1-46, August.
    12. Thi‐Hong‐Van Hoang & Wojciech Przychodzen & Justyna Przychodzen & Elysé A. Segbotangni, 2020. "Does it pay to be green? A disaggregated analysis of U.S. firms with green patents," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1331-1361, March.
    13. Saeed, Asif & Alnori, Faisal & Yaqoob, Gohar, 2023. "Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies," Research in International Business and Finance, Elsevier, vol. 64(C).
    14. Lin, Woon Leong & Law, Siong Hook & Ho, Jo Ann & Sambasivan, Murali, 2019. "The causality direction of the corporate social responsibility – Corporate financial performance Nexus: Application of Panel Vector Autoregression approach," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 401-418.
    15. John C. Boik, 2021. "Science-Driven Societal Transformation, Part III: Design," Sustainability, MDPI, vol. 13(2), pages 1-26, January.
    16. Ballester, Laura & González-Urteaga, Ana & Shen, Long, 2024. "Green bond issuance and credit risk: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 94(C).
    17. Wong, Jin Boon & Zhang, Qin, 2022. "Stock market reactions to adverse ESG disclosure via media channels," The British Accounting Review, Elsevier, vol. 54(1).
    18. Champagne, Claudia & Coggins, Frank & Sodjahin, Amos, 2022. "Can extra-financial ratings serve as an indicator of ESG risk?," Global Finance Journal, Elsevier, vol. 54(C).
    19. Moliterni, Fabio, 2018. "Do Global Financial Markets Capitalise Sustainability? Evidence of a Quick Reversal," SAS: Society and Sustainability 274853, Fondazione Eni Enrico Mattei (FEEM).
    20. Ming Tang & Huchang Liao & Zhengjun Wan & Enrique Herrera-Viedma & Marc A. Rosen, 2018. "Ten Years of Sustainability (2009 to 2018): A Bibliometric Overview," Sustainability, MDPI, vol. 10(5), pages 1-21, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:21:p:12015-:d:668789. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.