From Legitimacy to Compliance: Mapping the Structural Evolution of Corporate Sustainability Reporting

This paper systematically evaluates the academic landscape of nonfinancial information reporting, mapping the intellectual structure of voluntary and mandatory disclosure streams. The study reveals that sustainability research is heavily driven by policy milestones, notably the GRI guidelines and Directive 2014/95/EU. Findings highlight a clear thematic divergence: the literature on voluntary disclosure exhibits higher research intensity and focuses on capital costs, environmental performance, and legitimation, whereas mandatory disclosure prioritises regulatory impact, governance, and transparency. Despite these differing focuses, both streams rely on shared institutional, agency, and legitimacy theories. By demonstrating how normative shocks catalyse specific research agendas, this study offers predictive value for the transition toward the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRSs). Ultimately, it equips policymakers and practitioners with a robust baseline to anticipate compliance challenges, align disclosure strategies, and bridge the gap between regulation and tangible outcomes.