Self-Regulatory Efficiancy- a Systematic Literature Review

In this research paper, we aim to take stock of the academic scholarship on self-regulation over the past decade to explore the factors and conditions that shape its effectiveness. We see self-regulation as a process in which an organization imposes rules, procedures, or standards on itself voluntarily, or complies with other private (not governmental) rules, procedures or standards. Self-regulation could include the development of internal regulations made by the organization itself, or decisions to comply to external regulation made by other private organizations (such as International Organization for Standardization (ISO)). Organizations might choose to self-regulate for many reasons. The marketing and business literature, for example, identifies the role of stakeholders in pushing companies to develop self-regulatory practices that increase their social responsibility. Despite the proliferation of practices such as CSR and private certifications, it is still unclear what are the factors that lead to the successful execution of these self-regulatory tools. We do not have a predetermined definition of success or effectiveness of self-regulatory tools. We can assume it will include compliance to the voluntary rules, however, also possible that the literature has identified other effects of self-regulation. Due to the de-harmonized scholarship on the field, we identify the need to review existing studies and learn about the effects of self-regulation and the factors that were found to increase it effectiveness.