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ESG in Business Research: A Bibliometric Analysis

Author

Listed:
  • Evangelos Chytis

    (Department of Accounting and Finance, University of Ioannina, 48100 Preveza, Greece)

  • Nikolaos Eriotis

    (Department of Business Administration, National and Kapodistrian University of Athens, 11527 Athens, Greece)

  • Maria Mitroulia

    (Department of Accounting and Finance, University of Ioannina, 48100 Preveza, Greece)

Abstract

A company’s “value” is increasingly influenced by three criteria: the way it acts to protect the environment, its attitude towards society and the principles of corporate governance it has adopted. That is the Environmental, Social and Governance (ESG) acronym, and it has substantial impact on company value. To further understand the ESG landscape in business research, this article aims to analyze the existing literature and present the current state of knowledge, main trends, and future perspectives. Through the Scopus database, the authors examine a sample of 1034 articles spanning from 2006 to 2022. VOSviewer and Biblioshiny packages are used for performance analysis and visualization of the publication trends, the conceptual structure of the field and the research collaborations. The results suggest that the publication and citation trends of ESG register an upward trend over time. In terms of research institutions, most of the influential ones emanate from the US, while a significant percentage of articles were published in top-tier financial journals. Science mapping via co-authorship analysis bifurcates the sample into six clusters and reveals the major themes and their evolution. Keyword analysis unfolds emerging trends that could be further explored. Given the breadth of the sustainability field and the ever-changing business environment, this paper is of great practical importance in motivating companies to engage in ESG activities. To the authors’ knowledge, no other study has attempted a comprehensive and detailed BA covering multiple aspects and dimensions of ESG in the corporate research field. The theoretical framework of this paper fills this gap and offers an in-depth synthesis of all published papers, providing invaluable insights to scholars, the business community and regulatory authorities, and creating alternative research paths for aspiring researchers.

Suggested Citation

  • Evangelos Chytis & Nikolaos Eriotis & Maria Mitroulia, 2024. "ESG in Business Research: A Bibliometric Analysis," JRFM, MDPI, vol. 17(10), pages 1-25, October.
    • Handle: RePEc:gam:jjrfmx:v:17:y:2024:i:10:p:460-:d:1495783
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    References listed on IDEAS

    as
    1. Xingjian Liu & F. Benjamin Zhan & Song Hong & Beibei Niu & Yaolin Liu, 2012. "A bibliometric study of earthquake research: 1900–2010," Scientometrics, Springer;Akadémiai Kiadó, vol. 92(3), pages 747-765, September.
    2. Amir Amel-Zadeh & George Serafeim, 2018. "Why and How Investors Use ESG Information: Evidence from a Global Survey," Financial Analysts Journal, Taylor & Francis Journals, vol. 74(3), pages 87-103, July.
    3. Dan Daugaard, 2020. "Emerging new themes in environmental, social and governance investing: a systematic literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1501-1530, June.
    4. Lu, Jing & Wang, Jun, 2021. "Corporate governance, law, culture, environmental performance and CSR disclosure: A global perspective," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    5. Mehmet Ali Koseoglu, 2016. "Mapping the institutional collaboration network of strategic management research: 1980–2014," Scientometrics, Springer;Akadémiai Kiadó, vol. 109(1), pages 203-226, October.
    Full references (including those not matched with items on IDEAS)

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