Abstract:
Purpose: This bibliometric review aims to analyze the knowledge structure, research trends, and publication volume of literature on ESG’s impact on firm performance (EFP).
Method: This review employed descriptive statistics, citation analysis, co-citation analysis, and keyword co-occurrence analysis to investigate 1,080 Scopus-indexed articles published between 2000 and 2022.
Findings: The review found that the academic interest in economics and finance regarding EFP has grown significantly in recent years. Notably, 79% of the analyzed literature originated from developed economies, and 71% was published within four years (2019-2022). This indicates a clear concentration of research in developed regions despite the broader global implications of ESG. The review identified three interlinked research areas: business ethics, climate and sustainability, and corporate social responsibility. Interestingly, a keyword cluster analysis identified "sustainable development" and "corporate social responsibility" as preferred research topics, while concepts like "sustainable finance," "ESG disclosure," "climate change," and "integrated reporting" appeared less frequently, indicating potential future research areas.
Implications: This research can equip researchers to identify emerging topics under EFP, prioritize understudied areas, and refine research questions to contribute meaningfully to this evolving field.
Keywords: ESG, CSR, integrated reporting, firm performance, bibliometric review
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