Sep 2026· EuroMed Journal of Business· 0 citations· 96 references
Abstract
This study investigates the evolution and intellectual structure of research linking corporate social responsibility (CSR), environmental, social and governance (ESG) practices, financial performance and financial analyst behavior. It aims to identify influential contributions, thematic clusters, and emerging trends in this interdisciplinary field.
A bibliometric analysis was conducted using data retrieved from the Scopus database covering the period 1993–2023. The final dataset included 568 documents. Biblioshiny (R package Bibliometrix) was used for descriptive statistics, while VOSviewer was employed for science mapping, including co-citation, co-word, and collaboration networks. Thematic evolution was also examined across two time periods to capture the dynamics of the field.
Results reveal that while CSR, ESG, financial performance, and analyst coverage are increasingly studied, the literature remains fragmented. Dominant research streams focus on firm value implications of CSR, ESG disclosure practices and the role of financial analysts in shaping corporate sustainability. Emerging areas include ESG assurance and analyst bias.
This study is the first to apply bibliometric methods to examine the intersection of sustainability, financial performance, and analyst behavior. It provides a structured overview of the field, identifies knowledge gaps and proposes a research agenda for scholars, investors and regulators.
Purpose: This study aims to map the evolution, influential sources, dominant themes, mechanisms, and future research directions of Scopus-indexed studies examining the relationship between green innovation and Environmental, Social, and Governance (ESG) performance during 2015–2025.Research Methodology: This study employed a PRISMA-guided bibliometric systematic review approach using Scopus-indexed journal articles. A total of 22 eligible articles were identified and analyzed through VOSviewer-based bibliometric mapping and thematic synthesis to reveal publication trends, intellectual structures, and emerging research themes.Results: The findings indicate that GI–ESG research has experienced significant growth after 2022, with increasing attention to the roles of green finance, digital transformation, disclosure quality, governance mechanisms, and institutional support. The synthesis demonstrates that green innovation contributes more effectively to ESG performance when supported by organizational capabilities and contextual factors.Conclusions: Green innovation has evolved into a strategic mechanism that enables firms to transform sustainability initiatives into measurable ESG outcomes.Limitations: This study is limited to Scopus-indexed journal articles published between 2015 and 2025 and includes only 22 studies, which may exclude relevant evidence from other sources.Contributions: This study contributes by integrating bibliometric analysis and thematic synthesis to develop a mechanism-oriented framework explaining how digital capability, governance, disclosure, and green finance strengthen the role of green innovation in improving ESG performance.
This study maps the intellectual structure and thematic evolution of Environmental, Social, and Governance (ESG) and Corporate Governance research through a bibliometric analysis of 1,826 Scopus-indexed journal articles published between 2016 and 2025. Using VOSviewer, the study analyzes publication trends, leading authors, highly cited articles, and keyword co-occurrence through network, overlay, and density visualizations. The findings show a significant increase in publications, particularly after 2022, reflecting growing interest in ESG-related governance issues. ESG performance emerged as the dominant theme, closely linked to board characteristics, ESG disclosure, innovation, and sustainable development. Six major thematic clusters were identified, revealing a shift toward digital transformation, green innovation, responsible investment, and ethical issues such as greenwashing and tax avoidance. These findings offer insights into current trends and future directions for ESG and Corporate Governance research.
Penelitian ini bertujuan memetakan struktur intelektual dan perkembangan tematik kajian Environmental, Social, and Governance (ESG) dan Corporate Governance melalui analisis bibliometrik terhadap 1.826 artikel jurnal terindeks Scopus yang diterbitkan pada periode 2016–2025. Analisis dilakukan menggunakan VOSviewer untuk mengkaji tren publikasi, penulis terproduktif, artikel dengan sitasi tertinggi, serta kemunculan kata kunci melalui visualisasi network, overlay, dan density. Hasil penelitian menunjukkan peningkatan publikasi yang signifikan, terutama setelah tahun 2022, yang mencerminkan meningkatnya perhatian terhadap isu ESG dan tata kelola perusahaan. ESG performance muncul sebagai tema penelitian yang paling dominan dan berkaitan erat dengan karakteristik dewan, pengungkapan ESG, inovasi, dan pembangunan berkelanjutan. Analisis juga mengidentifikasi enam klaster tematik utama yang menunjukkan pergeseran fokus menuju transformasi digital, green innovation, responsible investment, serta isu etis seperti greenwashing dan tax avoidance. Temuan ini memberikan wawasan mengenai tren penelitian terkini dan arah pengembangan studi ESG dan Corporate Governance di masa mendatang.
Nor Rahma Rizka, Fitra Izzadieny, Deafatunnizwa Ulfida et al.· Jurnal Wahana Akuntansi· 0 citations
Purpose: This study maps the intellectual structure of corporate governance (CG) and environmental, social and governance (ESG) research between 1976 and 2025, identifies the conditional mechanisms through which governance affects firm outcomes across institutional settings, and derives a comparative research agenda for transition and resource-dependent economies, using Mongolia as a focal case.
Design/Methodology/Approach: Following the PRISMA 2020 protocol, the review employs a three-tier corpus architecture. A mapping corpus of ⟨D1⟩ indexed records retrieved from Scopus, Web of Science, Dimensions and EBSCO Business Source is analysed with dedicated bibliometric software (Bibliometrix/biblioshiny in R and VOSviewer) to generate co-authorship networks, keyword co-occurrence maps, co-citation and bibliographic-coupling clusters, and thematic-evolution trajectories. A stratified depth-coded corpus of ⟨D2⟩ works is then coded manually on six dimensions — journal ranking, citation impact, region, methodology, variable selection and theoretical foundation — by two independent coders (Cohen’s κ = ⟨D4⟩). A separately reported supplementary tier of ⟨D3⟩ Mongolian grey and local-language sources supports the country-level gap analysis and is excluded from all citation-impact metrics.
Findings: Agency theory remains the dominant primary framework (37.9% of depth-coded studies), but stakeholder, institutional, resource-dependence and legitimacy theories have grown rapidly since 2018, and 13.8% of studies now combine two or more frameworks explicitly. Panel regression remains the leading method (50.7% of method codes), while quasi-experimental designs (PSM+DiD, event studies, natural experiments) are expanding. The empirical frontier has shifted from the United States and Western Europe toward emerging and frontier markets, which jointly exceed 40% of the corpus. Science mapping confirms ⟨D11⟩ distinct thematic clusters and a keyword trajectory moving from board structure–agency cost toward ESG disclosure–assurance–sustainability committee. Mongolia-focused research reveals a formal legal framework with weak enforcement, a narrow set of measurement constructs, and very limited presence in the international citation network.
Conclusion: CG research is shifting from a single-theory paradigm toward multi-theory, ESG-oriented frameworks that require credible causal identification. Governance effects are conditional on legal origin, ownership concentration and enforcement capacity, so evidence generated in developed markets cannot be transferred uncritically to transition economies.
Practical Implications: The findings inform securities regulators, stock exchanges and listed firms in transition and resource-dependent economies — and in Mongolia specifically — on the design of audit and sustainability committees, ESG disclosure rules aligned with GRI and IFRS S1/S2, and resource-governance transparency mechanisms.
Originality: The study combines PRISMA-based systematic screening with software-based science mapping, and it is the first review to position Mongolia explicitly within a comparative class of transition, resource-dependent, thin-market economies rather than treating it as an isolated national case.
Chinzorig Chuluun, O. Gotov· International journal of res...· 0 citations
This study aims to examine the development and integration of Environmental, Social, and Governance (ESG) into financial statement analysis using a hybrid approach that combines bibliometric analysis and a Systematic Literature Review (SLR). The study analyzes Scopus-indexed journal articles published between 2015 and 2025 to map publication trends, dominant themes, the intellectual structure, and the evolving direction of ESG research. The findings reveal that ESG research has grown significantly and become increasingly integrated into mainstream accounting and finance literature. The major research themes include ESG reporting, non-financial disclosure, IFRS, assurance, risk management, and corporate value creation. The SLR findings indicate that ESG is no longer regarded as supplementary information but has evolved into an analytical dimension that enhances the assessment of corporate performance, risk, reporting quality, and sustainability. ESG integration is driven by regulatory pressure, reporting standardization, governance quality, information credibility, and the growing demand from stakeholders for transparent information. This study contributes conceptually by emphasizing the importance of an integrated financial statement analysis framework that combines financial and non-financial information to support higher-quality decision-making.
Gregorius Jeandry, Zainuddin Zainuddin, Amin Dara et al.· EKUITAS (Jurnal Ekonomi dan...· 0 citations
This study aims to map the evolution of earnings persistence research, identify its intellectual, conceptual, and social structures, and examine its relationships with earnings quality, corporate governance, audit quality, and sustainability while proposing future research directions. A bibliometric approach was employed using the Scopus database. Following the PRISMA procedure, 482 records were identified, and 291 articles published between 2006 and 2026 were retained after applying timespan, document type, subject category, language, and journal filters. The dataset was analyzed using Bibliometrix/Biblioshiny through performance analysis, scientific mapping, and structured content analysis, including co word analysis, co citation, bibliographic coupling, and collaboration network analysis. The findings reveal increasing publication trends following IFRS adoption, with earnings quality remaining the dominant theme alongside growing attention to ESG, sustainability, and corporate governance. However, cross country collaboration and digital reporting remain underexplored. This study provides a comprehensive bibliometric overview and proposes future research directions for earnings persistence.
Environmental, Social, and Governance (ESG) disclosure has become an increasingly important research area due to growing demands for corporate transparency, sustainable business practices, and responsible investment decisions. This study aims to examine the development, intellectual structure, and emerging research trends in ESG disclosure literature using a bibliometric analysis approach. Data were collected from the Scopus database by identifying relevant publications related to ESG disclosure, sustainability reporting, and corporate sustainability. The collected documents were analyzed using VOSviewer to perform keyword co-occurrence analysis, citation analysis, co-authorship analysis, institutional collaboration analysis, and country collaboration mapping. The findings reveal that ESG disclosure research has experienced substantial growth and is primarily focused on themes related to ESG practices, sustainability reporting, corporate social responsibility, financial performance, stakeholder theory, and corporate governance. Influential studies indicate that ESG disclosure plays an important role in enhancing corporate value, improving transparency, reducing information asymmetry, and strengthening stakeholder relationships. The thematic evolution analysis further demonstrates a transition from conventional sustainability reporting toward emerging research areas involving artificial intelligence, machine learning, carbon disclosure, ESG performance measurement, and sustainable investment. The collaboration analysis highlights the dominant contributions of countries such as China, the United States, the United Kingdom, India, and Italy, reflecting the global and interdisciplinary nature of ESG disclosure research. This study contributes to the existing literature by mapping the knowledge structure of ESG disclosure and identifying future research opportunities related to digital ESG assessment, regulatory harmonization, and sustainable corporate value creation.
L. Judijanto· Sustainable Development Insi...· 0 citations
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