308
J. G. M. C. da Amarante et al.
players, access to capital, ethical and responsible behavior, the maintenance of market
relations and compliance with economic, social and environmental regulations.
The integrated management of corporate commitments leads to an emerging field
called “Governance, Risk and Compliance (GRC)”. In recent years, although still
incipient, a growing body of literature concerning studies related to the acronym GRC
has been observed. The predominant understanding of GRC is based on a structure
that integrates several organizational areas with the purpose of implementing business
strategies in accordance with governance, risk management, legal compliance and
internal controls.
It is demonstrated that the GRC field is not sufficiently explored in the scientific
community, and when related to sustainability-oriented research agendas, it is even
more deficient (Doyle et al. 2019). Therefore, links with the areas in question are
rarely carried out, losing out a potential field of exploitation.
On the other hand, international norms, such as Sarbanes-Oxley, started to show
GRC as part of sustainability research agendas (Doyle et al. 2019). In order to understand this emerging movement, the objective of this study is to map all the scientific
studies of Governance, Risks and Compliance and analyze possible links with the
field of sustainability, through the process of literature mapping. Through systematic
review and analyses of the integration of these themes, a reflection of the perspective
of sustainability and a discussion about what still needs to be studied in the area is
provided, in addition to recommendations for future studies.
The proposed theme and the applied methodological approach can be considered
of great relevance for the area of strategic administration and sustainability, so that
the central themes concerning the acronym GRC and Sustainability can be raised,
analyzed and integrated.
2 Governance, Risk and Compliance
Financial scandals at the beginning of the twenty-first century, such as the fall of
Enron in 2001 (Clarke 2005), and the ones involving WorldCom, Parmalat and the
Lehman Brothers (subprime crisis in 2008), amongst others, promoted new discussions about the structuring of Corporate Governance from the global perspective and
imparted new concerns and institutional positions. Over the last few years, research
on Corporate Governance (CG) under different perspectives has generated considerable demand among academics and professionals.
Centered on the prevalence of control and organizational management systems,
corporate governance has been meaningfully inserted in the entities of most different
structures. The role of Corporate Governance is to mitigate the agency problem that
may arise from the separation of ownership and control.
J. G. M. C. da Amarante et al.
players, access to capital, ethical and responsible behavior, the maintenance of market
relations and compliance with economic, social and environmental regulations.
The integrated management of corporate commitments leads to an emerging field
called “Governance, Risk and Compliance (GRC)”. In recent years, although still
incipient, a growing body of literature concerning studies related to the acronym GRC
has been observed. The predominant understanding of GRC is based on a structure
that integrates several organizational areas with the purpose of implementing business
strategies in accordance with governance, risk management, legal compliance and
internal controls.
It is demonstrated that the GRC field is not sufficiently explored in the scientific
community, and when related to sustainability-oriented research agendas, it is even
more deficient (Doyle et al. 2019). Therefore, links with the areas in question are
rarely carried out, losing out a potential field of exploitation.
On the other hand, international norms, such as Sarbanes-Oxley, started to show
GRC as part of sustainability research agendas (Doyle et al. 2019). In order to understand this emerging movement, the objective of this study is to map all the scientific
studies of Governance, Risks and Compliance and analyze possible links with the
field of sustainability, through the process of literature mapping. Through systematic
review and analyses of the integration of these themes, a reflection of the perspective
of sustainability and a discussion about what still needs to be studied in the area is
provided, in addition to recommendations for future studies.
The proposed theme and the applied methodological approach can be considered
of great relevance for the area of strategic administration and sustainability, so that
the central themes concerning the acronym GRC and Sustainability can be raised,
analyzed and integrated.
2 Governance, Risk and Compliance
Financial scandals at the beginning of the twenty-first century, such as the fall of
Enron in 2001 (Clarke 2005), and the ones involving WorldCom, Parmalat and the
Lehman Brothers (subprime crisis in 2008), amongst others, promoted new discussions about the structuring of Corporate Governance from the global perspective and
imparted new concerns and institutional positions. Over the last few years, research
on Corporate Governance (CG) under different perspectives has generated considerable demand among academics and professionals.
Centered on the prevalence of control and organizational management systems,
corporate governance has been meaningfully inserted in the entities of most different
structures. The role of Corporate Governance is to mitigate the agency problem that
may arise from the separation of ownership and control.