Does ownership structure impact carbon performance and reporting?: A literature review and a research agenda

Patrick Velte

doi:10.1108/ARJ-02-2025-0055

Does ownership structure impact carbon performance and reporting? A literature review and a research agenda

Research output: Journal contributions › Scientific review articles › Research

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Does ownership structure impact carbon performance and reporting? A literature review and a research agenda. / Velte, Patrick.
In: Accounting Research Journal, Vol. 38, No. 3-4, 09.2025, p. 443-473.

Research output: Journal contributions › Scientific review articles › Research

Bibtex

@article{4c5137040f03443b8e16456dcd1293d6,

title = "Does ownership structure impact carbon performance and reporting?: A literature review and a research agenda",

abstract = "Purpose – This study aims to focus on the impact of ownership structure on carbon performance and reporting. Design/methodology/approach – Using a multi-theoretical framework, 47 archival studies that focused on the impact of institutional, family, foreign, state, managerial and concentrated ownership (blockholding) on corporate carbon outcomes were reviewed. Findings – Institutional ownership, the most prominent ownership dimension, was found to be positively related to carbon reporting and performance, which aligns with stakeholder theory. Particularly, sustainable institutional investors positively relate to carbon outcomes. In line with legitimacy theory, other ownership categories{\textquoteright} link to carbon reporting and performance was found only in a few studies with inconclusive results. Originality/value – Compared to the former broader reviews on corporate governance and carbon, this literature review focused on the relationship between various ownership and corporate carbon attributes. Previous reviews summarized the overall determinants of carbon reporting and performance, neglecting ownership{\textquoteright}s heterogeneous impact. Among other recommendations, future research should address the impact of institutional ownership heterogeneity on carbon outputs in detail and include board governance as a moderator of this relationship.",

keywords = "Management studies, Sustainability Science",

author = "Patrick Velte",

note = "Publisher Copyright: {\textcopyright} 2025 Emerald Publishing Limited",

year = "2025",

month = sep,

doi = "10.1108/ARJ-02-2025-0055",

language = "English",

volume = "38",

pages = "443--473",

journal = "Accounting Research Journal",

issn = "1030-9616",

publisher = "Emerald Publishing Limited",

number = "3-4",

}

RIS

TY - JOUR

T1 - Does ownership structure impact carbon performance and reporting?

T2 - A literature review and a research agenda

AU - Velte, Patrick

PY - 2025/9

Y1 - 2025/9

N2 - Purpose – This study aims to focus on the impact of ownership structure on carbon performance and reporting. Design/methodology/approach – Using a multi-theoretical framework, 47 archival studies that focused on the impact of institutional, family, foreign, state, managerial and concentrated ownership (blockholding) on corporate carbon outcomes were reviewed. Findings – Institutional ownership, the most prominent ownership dimension, was found to be positively related to carbon reporting and performance, which aligns with stakeholder theory. Particularly, sustainable institutional investors positively relate to carbon outcomes. In line with legitimacy theory, other ownership categories’ link to carbon reporting and performance was found only in a few studies with inconclusive results. Originality/value – Compared to the former broader reviews on corporate governance and carbon, this literature review focused on the relationship between various ownership and corporate carbon attributes. Previous reviews summarized the overall determinants of carbon reporting and performance, neglecting ownership’s heterogeneous impact. Among other recommendations, future research should address the impact of institutional ownership heterogeneity on carbon outputs in detail and include board governance as a moderator of this relationship.

AB - Purpose – This study aims to focus on the impact of ownership structure on carbon performance and reporting. Design/methodology/approach – Using a multi-theoretical framework, 47 archival studies that focused on the impact of institutional, family, foreign, state, managerial and concentrated ownership (blockholding) on corporate carbon outcomes were reviewed. Findings – Institutional ownership, the most prominent ownership dimension, was found to be positively related to carbon reporting and performance, which aligns with stakeholder theory. Particularly, sustainable institutional investors positively relate to carbon outcomes. In line with legitimacy theory, other ownership categories’ link to carbon reporting and performance was found only in a few studies with inconclusive results. Originality/value – Compared to the former broader reviews on corporate governance and carbon, this literature review focused on the relationship between various ownership and corporate carbon attributes. Previous reviews summarized the overall determinants of carbon reporting and performance, neglecting ownership’s heterogeneous impact. Among other recommendations, future research should address the impact of institutional ownership heterogeneity on carbon outputs in detail and include board governance as a moderator of this relationship.

KW - Management studies

KW - Sustainability Science

UR - http://www.scopus.com/inward/record.url?scp=105009326217&partnerID=8YFLogxK

U2 - 10.1108/ARJ-02-2025-0055

DO - 10.1108/ARJ-02-2025-0055

M3 - Scientific review articles

AN - SCOPUS:105009326217

VL - 38

SP - 443

EP - 473

JO - Accounting Research Journal

JF - Accounting Research Journal

SN - 1030-9616

IS - 3-4

ER -

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