Due diligence: a bibliometric review and future research agenda

Abstract. This study conducts a bibliometric literature review to analyze the sustainable performance of circular economy practices in the building sector, aiming to identify key research trends, influential publications, and collaborative networks. A systematic search was performed on the Scopus database, yielding 779 relevant articles. We used VOSviewer to conduct a bibliometric analysis focusing on co-authorship networks, citation patterns, keyword co-occurrence, co-citation, and bibliographic coupling. These analyses provided a detailed visualization of the research landscape. The analysis revealed significant clusters of research activity, highlighting key authors, influential journals, and widely cited works. The study identified prevalent themes and concepts, illustrating the development of circular economy practices in the building sector. Network visualizations showed strong collaborations and citation linkages among leading researchers and institutions. This bibliometric review offers a comprehensive overview of research trends in circular economy practices within the building sector. Uncovering patterns and key contributions provides valuable insights for researchers and practitioners focused on sustainability and resource efficiency in the built environment.

PurposeThe application of digital twins to optimise operations and supply chain management functions is a bourgeoning practice. Scholars have attempted to keep pace with this development initiating a fast-evolving research agenda. The purpose of this paper is to take stock of the emerging research stream identifying trends and capture the value potential of digital twins to the field of operations and supply chain management.Design/methodology/approachIn this work we employ a bibliometric literature review supported by bibliographic coupling and keyword co-occurrence network analysis to examine current trends in the research field regarding the value-added potential of digital twin in operations and supply chain management.FindingsThe main findings of this work are the identification of four value clusters and one enabler cluster. Value clusters are comprised of articles that describe how the application of digital twin can enhance supply chain activities at the level of business processes as well as the level of supply chain capabilities. Value clusters of production flow management and product development operate at the business processes level and are maturing communities. The supply chain resilience and risk management value cluster operates at the capability level, it is just emerging, and is positioned at the periphery of the main network.Originality/valueThis is the first study that attempts to conceptualise digital twin as a dynamic capability and employs bibliometric and network analysis on the research stream of digital twin in operations and supply chain management to capture evolutionary trends, literature communities and value-creation dynamics in a digital-twin-enabled supply chain.

Venture capital is an important resource for new ventures with no access to the capital market. However, venture capital companies' investment decisions could be extremely risky. Assessing and managing risk is therefore a major task of venture capital companies. Despite the topic's high practical relevance, there is very little literature in this field. We aim to extend the academic discussion by investigating the risk types and risk assessment in venture capital investments. We analysed more than 500 deal documents of nine German venture capital companies, resulting in 2,452 qualitative quotes. We categorised these quotes into seven risk types, namely financial, market, strategy, technology, production, human capital, and legal risks, implying their relevance during the VC investment process. Market risk and technology risk are mentioned the most in the due diligence and the decision papers. Financial risk with 710 quotes is the most often documented risk considering all venture capital documents.

Venture capital is an important resource for new ventures with no access to the capital market. However, venture capital companies' investment decisions could be extremely risky. Assessing and managing risk is therefore a major task of venture capital companies. Despite the topic's high practical relevance, there is very little literature in this field. We aim to extend the academic discussion by investigating the risk types and risk assessment in venture capital investments. We analysed more than 500 deal documents of nine German venture capital companies, resulting in 2,452 qualitative quotes. We categorised these quotes into seven risk types, namely financial, market, strategy, technology, production, human capital, and legal risks, implying their relevance during the VC investment process. Market risk and technology risk are mentioned the most in the due diligence and the decision papers. Financial risk with 710 quotes is the most often documented risk considering all venture capital documents.

The issue of labor rights violations by multinational corporations has emerged as a serious international problem. Accordingly, the international community discussed how to regulate labor rights violations by multinational companies and strengthen their responsibility to protect labor rights. Various efforts and attempts to protect human rights at the level of multinational corporations, global governance and international organizations, and advanced countries have resulted in preventing violations of labor rights by multinational corporations and enhancing labor rights. However, there were definitely limitations. New measures are emerging to enhance labor human rights that can overcome these limitations. The EU Parliament and EU Member States have determined that the essence of the problem of labor rights violations by multinational corporations lies in global supply chains. They intend to enhance labor rights by enacting the Mandatory Corporate Due Diligence Act (Mandatory Supply Chain Due Diligence) to impose certain obligations on domestic companies, overseas branches of domestic companies, and subcontractors for human rights and due diligence. The due diligence obligations of the EU Parliament and EU member states are not limited to domestic companies, but they are also mandatory for foreign companies operating in their countries, which is expected to have a lot of impact and change. According to the EU Parliament's Corporate Due Diligence Directive, Korean conglomerates and small and medium-sized enterprises exporting to the EU are subject to the due diligence guidelines, so they must carry out due diligence on human rights and the environment in their supply chains, assess and minimize negative impacts, and disclose information. The EU Parliament's Mandatory Business Due Diligence Directive applies not only to the original contracting company but also to cases of human rights violations caused by its suppliers.
 In particular, the textile and steel industries, which are high-risk sectors, are more likely to be classified as companies subject to due diligence obligations, so they should also pay attention to the issue of labor rights violations that may occur in the global supply chain. Although it will take some time for the EU Parliament's mandatory corporate due diligence directive to be applied in EU member states, the trend of EU member states and the EU Parliament making it mandatory for companies to conduct due diligence on their supply chains is expected to have a significant impact on international norms. In line with this trend, the Korean government also needs to actively restructure its domestic laws and policies to comply with various international standards, including the European Due Diligence Directive.

24 | International Union Rights | 26/4 ANALYSIS | UN BINDING TREATY DRAFT The Draft Treaty is taking clear shape and this is a key time for trade unionists to continue to engage with technical legal aspects of the drafting In July 2019, the ‘Revised Draft of the Legally Binding Instrument’ was released from the UN Human Rights Council’s Working Group on Business and Human Rights, updating the so-called ‘Zero Draft’ of July 2018. Many welcomed the new draft as a step forward, but others were quick to seize upon a number of ambiguities and puzzling choices that seem to depart from the broad consensus of the UN Guiding Principles on Business and Human Rights (UNGPs). The document now has a coherent shape and focus, but fails to produce clarity on a number of technical legal points. These must be addressed if the Draft is to create a meaningful international standard. The following represent my own views (broadly starting with the highest priority points, moving towards those that are either less urgent or viable) on which changes trade unionists should consider pushing for in the Draft. Due diligence and stakeholder issues The continuing move towards a legally mandated form of binding due diligence can be welcomed by unions. It promises opportunities for participation and engagement, and is the only mechanism that seeks to avoid and prevent harm, rather than merely compensate for harm that has occurred. It is built upon the idea of voluntary due diligence that was central to the UNGPs. It is understood by and – more or less – supported by significant sections of the business community, at least to a degree. Properly mapped out, binding due diligence holds the potential to improve corporate planning so as to identify and avoid risks, improve communication with stakeholders, and to establish better participation for all affected by corporate activities (notably, of course, those working in their supply chains). It also backs this up with real accountability for failures to identify and avoid risks. Crucial to effective due diligence, however, are requirements for stakeholder involvement in corporate planning. Trade unionists should consider calling for the following improvements: • Groups identified as ‘at risk’ should include trade unions (Articles 5(3)b and 14(4)). • Groups identified as ‘to be consulted’ should include trade unions (Article 5(3)b). • The form that Article 5(3)b consultation takes should be better defined so as to give stakeholders a genuine opportunity to influence decision-making. • The outcomes of consultation do not have a mechanism requiring that they be integrated into due diligence planning. This is in contrast to the outcomes of impact assessments, which are specifically integrated into due diligence planning under Article 5(3)a. An equivalent link placing consultation outcomes at least on a par with impact assessment outcomes should be established. • There should be an explicit link between Article 5 due diligence for parent companies and Article 6 legal liability concerning harm arising as a result of due diligence failures (discussed further below). • There should be a clear statement under Article 5 (and therefore linked also to Article 6(6)) to the effect that parent companies should not be able to divest themselves of due diligence obligations by simply outsourcing that responsibility to a third party monitor or by paying little or no attention to their supply chains. Liability, jurisdiction, and applicable law Victims of harm need access to courts and judicial processes, and effective remedies must be available that are appropriate and commensurate to the harm suffered. The latest Draft does give a useful framework around which to discuss what liability might look like under the Treaty, but there are surprising gaps and a lack of clarity concerning how and in what circumstances parent company liability towards victims overseas might arise. Changes in the following areas ought to be investigated: • Article 6(6) outlines a civil liability track for victims. It covers situations where one company is controlled or supervised by another, and (in the alternative) also situations where a company should foresee or should have foreseen harm caused by a company with which it has a ‘contractual relationship’. This second strand of liability seems to arise where the parent company...

Passive investments such as exchange-traded funds (ETFs) provide an opportunity to invest in indexes, asset classes, and sectors with low maintenance costs and high transparency. Today ETFs dominate the world, with nearly 50% of the investment in the USA coming through ETFs. Numerous studies on specific aspects on ETFs have been done earlier; however, considering the scarcity of thorough summaries in the existing body of literature, this bibliometric and systematic review aims to adopt a methodical approach with the goal of delivering qualitative and quantitative understanding of ETFs, while highlighting general research trends. The authors analyzed 2058 articles associated with ETFs from the Scopus database during the last 50 years, i.e., from 1973 till date. The search was initially conducted using title, keyword, and abstract, yielding 2058 articles, which were narrowed to only include research papers and review papers, resulting in a final count of 958 items. The most important authors, highest cited articles, prominent journals, important themes, and associated countries have been identified using bibliometric research. The numerical and visual representations of the analysis show that ETFs are a widely studied research area, and the enormous rise in publications in 2020, 2021, and 2022 demonstrates that researchers are quite interested in the topic. According to affiliation statistics, most research is focused in the USA together with other developed nations, opening new options for the research on ETFs in relation to developing economies. The current analysis reconciles numerous exchange-traded fund studies associated with volatility, liquidity, risk-return trade-off, and tracking errors and identifies possible research gaps. Some of the emerging topics that evolved in passive investments include the use of machine learning, AI, and the emergence of ETFs associated with ESG and sustainability. This research will help lawmakers, scholars, and regulators understand the core principles of ETFs and identify areas that deserve additional investigation.

PurposeThis study aims to summarise the conceptual evolution of corporate communication research in accounting, management, and business over the past fifty years (1968–2022). It seeks to explore the intellectual framework of corporate communication research in greater depth.Design/methodology/approachThis study identifies the most influential papers in corporate communication research through the scientific mapping technique of citation analysis. Bibliographic coupling is employed to uncover the intellectual structure of the field and to highlight the most frequently discussed topics within corporate communication. Additionally, thematic analysis conducted using the “Bibliometrix” package in R Studio reveals the most significant themes, enhancing the understanding of prevailing research trends. Together, these methods offer a comprehensive overview of the field’s current landscape and provide strategic direction for future scholarly inquiry in corporate communication.FindingsThis study identifies the most influential papers in corporate communication research based on citations from 1,345 papers retrieved from the Scopus database over the past 5 decades (1968–2022). Findings reveal that the most cited paper in Business, Management, and Accounting (BMA) is “Corporate Hypocrite: Overcoming the Threat of Inconsistent Corporate Social Responsibility Perceptions”. Most papers are published in Corporate Communications: An International Journal, which serves as a key source in the field. Frequently occurring keywords include public relations, corporate social responsibility and corporate communication(s), while corporate governance, crisis communication and strategic management appear less frequently.Research limitations/implicationsThis study highlights the importance of understanding the holistic development of corporate communication research. The findings help academics identify gaps in the literature, guiding future research directions. Educators can integrate key themes into curricula to align with the latest advancements. Additionally, the use of scientific mapping techniques, such as bibliographic coupling and citation analysis, underscores the need for rigorous methodologies in academic research. Ultimately, this paper enhances our understanding of corporate communication and lays a strong foundation for further scholarly exploration in this evolving field.Practical implicationsThe findings of this study have valuable practical implications for researchers, educators, and professionals in the business communication field. By employing citation analysis and bibliographic coupling, this study maps the evolution of corporate communication research, identifying key articles and themes. Understanding these trends enables researchers to select relevant topics for further exploration and development. Additionally, the use of the Bibliometrix R Studio program for thematic analysis provides stakeholders with deeper insights into prevailing research patterns, facilitating informed decision-making in both academic and industry settings.Social implicationsThis study offers valuable insights into the role of corporate communication in society, carrying significant societal implications. By identifying patterns and conceptual frameworks, it deepens our understanding of the broader impact of business communication practices. This knowledge enables individuals and communities to critically assess corporate communications, fostering accountability, transparency and ethical practices. Additionally, by highlighting emerging challenges and trends, the study strengthens communication and collaboration among organisations, stakeholders and the public. Ultimately, it supports informed decision-making and cultivates meaningful social connections, contributing to a more responsible and effective corporate communication landscape.Originality/valueThis study offers a comprehensive and well-researched overview of corporate communication, tracing its evolution over the past 50 years. For the first time, a bibliometric review is used to analyse the field’s development systematically. Through bibliographic coupling, the study further establishes the conceptual foundation of corporate communication, providing valuable insights into its intellectual structure and research trajectory.

The last decades are indicative of an increasing global attention on the negative externalities that come from business operations: human rights violations and environmental harms related to business operations. Globalization has led to increasingly complex, dynamic and non-transparent global supply and value chains, thus making the burden of protecting human rights and environment even more difficult. The concept of mandatory human rights due diligence has been increasingly endorsed and proclaimed as a necessary solution to address these issues. This research aims to assess the ability of such a regulatory tool to serve as an instrument to protect human rights and the environment throughout the supply chain. The first part dives into examining recent developments in human rights due diligence adopted in the European Union. The second part of the research comprises an indepth assessment of the most recent legislative Draft proposed by the European Commission which aims to introduce an EUwide mandatory sustainability due diligence corporate duty. The last part is a doctrinal analysis of Corporate Governance which proves its important role in addressing human rights and environmental issues, as it is a tool for integrating the mandatory due diligence into the organisational culture of a business. The assessment of current national mandatory due diligence regulations shows that companies are not incentivized to develop a holistic approach but rather to focus on specific issues that are targeted through legislation. Moreover, they often apply only to certain categories of companies based on domicile or country of operation and number of employees or turnover which leads to fragmentation and discrepancies between states. The European Proposal is revolutionary in many aspects as it introduces a comprehensive human rights due diligence mechanism for companies. However, the provisions of the current draft have many weaknesses and loopholes that are likely to jeopardize the Directive’s effectiveness

This bibliometric review explores the existing publications regarding innovations in sustainable tourism. The aim of the review was to determine the existing research trends in the field of innovations in sustainable tourism by mapping the research on the innovations and “smart” aspects in sustainable tourism and contributing to the field by outlining the recent research trends, identifying the general topics and subtopics, and thus guiding future researchers in choosing an attractive research direction. The bibliometric analysis based on the PRISMA guidelines was provided to extract 179 all-open-access documents (articles, research papers, conference papers, and book chapters) from the Scopus database. As the research field was found to be expanding (thirty-eight documents were dated 2023 compared to one dated 2010), its attractiveness was confirmed. The analysis of the most-cited publications showed the existence of three research trends: (1) management-focused, (2) sustainability-focused, and (3) smart/ITCs-focused. Moreover, the analysis of the author keywords enabled outlining the main future research themes, namely tourism, sustainability, management, scope, innovation, smart, and method, and providing considerations for the future. For a broader dissemination of their findings, authors are encouraged to pay greater attention to these factors: inter-country collaboration, leading institution, journal choice, and topic choice.

PurposeThis article aims to conduct a bibliometric study using structural and relational approaches amongst the extracted documents and investigates the connections between business incubation and entrepreneurship-related papers to describe the field comprehensively.Design/methodology/approachA total of 259 articles have been retrieved from Scopus database in order to conduct the bibliometric analysis. Performance analysis and science mapping techniques of bibliometrics have been used along with data visualisation software, i.e. VOSviewer and RStudio. The network collaboration and intellectual structures, i.e. bibliographic coupling, co-occurrence analysis, word cloud and trending topics, have been presented to identify the field’s latest trends, themes and development.FindingsThe findings highlight annual publication trends, including the most frequently cited articles, the most productive authors, countries and highly influential journals that contribute the most to the said field. The intellectual structures have been developed to identify research themes and trends by running co-occurrence analysis and bibliographic coupling. The findings of this study emphasize the value of technology transfer, mentorship programmes, entrepreneurship education and an emphasis on innovation and creativity through entrepreneurial universities and academia. These findings provide policymakers and administrative officials with crucial guidance for fortifying the pillars of entrepreneurship and education for the comprehensive development of the economy. Further, this article attempts to identify the most influential and relevant publications as well as the newest trends in the area of business incubation in combination with entrepreneurship.Research limitations/implicationsThe article contributes not only to broaden the scope of knowledge on the said research discipline but also to comprehend how the field has evolved over a period of time. This study also attracts the interest of scholars/academicians, leading to the significant production of scholarly documents in business incubation and entrepreneurship.Practical implicationsThe field of entrepreneurship and business incubation is one of the important pillars for the growth and development of the economy. This piece contributes to this arena by focusing on the areas that must be taken care of by developing the entrepreneurial ecosystem and fostering the progress of startups. The fundamentals of this research highlight the importance of mentorship programs, entrepreneurship education, technology transfer and a focus on innovation and creativity through entrepreneurial education and efforts by universities/academia, giving an important direction to the policymakers and administration for strengthening the pillar of entrepreneurship and education for the holistic development of the economy.Originality/valueBusiness incubation is an emerging field of academic research connected to startups, venture formation and entrepreneurship ecosystems, making it a potential scholarly discipline. This study presents a thorough bibliometric analysis over the last three decades, offering comprehensive details on the most significant developments in the field of business incubation. Moreover, the various analytical methods applied to this study make it more attractive.

Global trends of green manufacturing research in the textile industry using bibliometric analysis

Putting the Dutch Child Labour Due Diligence Act into Perspective An Assessment of the CLDD Act’s Legal and Policy Relevance in the Netherlands and Beyond In May 2019, the Dutch senate adopted a private member’s bill introducing a due diligence obligation for companies bringing goods or services onto the Dutch market with respect to the use of child labour in their supply chains. The aim of this article is to place this Child Labour Due Diligence (CLDD) Act in the national and international legal context and to discuss its relevance for the broader debate on international responsible business conduct (IRBC) in global value chains. The article shows that the CLDD Act introduces a due diligence obligation in this context that is new to Dutch law, as is the public law supervisor that is to be tasked with its enforcement. However, it does nothing to broaden the possibilities for access to remedies for victims of child labour beyond those already in existence. The article also shows that when compared with 2017 the French Duty of Vigilance Law, which is the only other mandatory due diligence law to have been adopted so far, the CLDD Act stands out in several respects. It is overshadowed, however, by the European parliament’s recent adoption of an ambitious outline for a future EU due diligence directive. Nonetheless, in view of the fact that it remains unclear for now whether the future EU directive on this topic will display the same level of ambition as the current proposal, the CLDD Act will remain relevant from an international perspective also for some time to come.

With the rapid development of digital technology, the intention to engage in digital entrepreneurship has become a hot topic in the field of entrepreneurship research.This paper conducts a quantitative analysis of recent global research on digital entrepreneurship intentions using bibliometric methods such as co-citation analysis and bibliographic coupling analysis.It identifies key factors influencing digital entrepreneurship intentions and reveals the research foundation and trends in digital entrepreneurship intentions and proposes directions for future research.

Background: In the context of digital transformation and sustainable development, it is increasingly important to understand the relationship between Supply Chain Collaboration (SCC) and Green Supply Chain Management (GSCM). This study aims to clarify the convergence between the two sectors that play a pivotal role in modern supply chain management.Objectives: The objective of the study is to analyse research trends on SCC-GSCM, identify prominent authors, countries, journals, as well as core research topics and trends.Method: The study used bibliographic analysis based on 1724 articles published in the Scopus database in the period 2000–2023.Results: The results show that the convergence between SCC and GSCM increased markedly, especially in the period 2019–2023 with a compound annual growth rate (CAGR) of 19.57%. Four main thematic clusters were identified: (1) strategic collaboration in sustainable supply chains; (2) application of GSCM in the industrial sector; (3) environmental collaboration and supply chain performance; (4) digital transformation and expansion of SCC-GSCM.Conclusion: Technology 4.0 is identified as the main driving factor for the SCC-GSCM convergence process, contributing to building a smart cooperation model and optimising sustainable efficiency.Contribution: The study provides a data platform that guides further research, and provides practical implications for leveraging technology to promote collaboration and improve sustainable supply chain performance.