Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review
Abstract
:1. Introduction
2. Methodology
3. Results
3.1. Performance Analysis
3.2. Network Analysis
Co-Citation and Co-Authorship Analysis
No | References | Author (s) | Journals | TLS | Citations | Cluster |
---|---|---|---|---|---|---|
1 | [66] | Freeman R. E | - | 698 | 415 | 1 |
2 | [69] | Jensen M.C., Meckling W. H | Journal of Financial Economics | 786 | 369 | 2 |
3 | [74] | Orlitzky M., Schmidt F.L., Rynes S. L | Organization Studies | 715 | 240 | 1 |
4 | [67] | Cheng B., Ioannou I., Serafeim G | Strategic Management Journal | 597 | 211 | 3 |
5 | [70] | Servaes H., Tamayo A | Management Science | 513 | 192 | 1 |
6 | [75] | Dhaliwal D.S., Li O.Z., Tsang A., Yang Y. G | The Accounting Review | 477 | 189 | 3 |
7 | [76] | Barnea A., Rubin A | Journal of Business Ethics | 614 | 188 | 3 |
8 | [71] | Mcwilliams A., Siegel D | Academy of Management Review | 550 | 185 | 1 |
9 | [68] | Jo H., Harjoto M. A | Journal of Business Ethics | 555 | 175 | 3 |
10 | [72] | Bear S., Rahman N., Post C | Journal of Business Ethics | 380 | 166 | 2 |
3.3. Research Topics Analysis
3.4. Clusters Analysis
3.4.1. Social Cluster
3.4.2. Sustainable Development Goal Cluster
3.4.3. ESG Cluster
Mandatory versus Voluntary ESG Disclosure
Regional and Cultural Contexts and ESG Disclosure
3.4.4. Organization Cluster
3.4.5. Innovation Cluster
3.4.6. Stakeholder Cluster
4. Future Research Agenda
5. Conclusions and Limitations
5.1. Conclusions
5.2. Limitations
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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No. | Country | TNP | % | Institution | TNP | % | Author | TNP | R% | H-Index | Author’s Country | Author’s Institution | FA |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | China | 788 | 19.29 | Universidad de Salamanca, Spain | 50 | 1.22 | Uyar, Ali | 41 | 1.00 | 26 | France | Excelia Business School | 2012 |
2 | USA | 516 | 12.63 | Excelia Business School, France | 44 | 1.08 | Kuzey, Cemil | 29 | 0.71 | 22 | USA | Murray State University | 2015 |
3 | UK | 410 | 10.04 | University of Sfax, Tunisia | 43 | 1.05 | Karaman, Abdullah S. | 27 | 0.66 | 17 | Kuwait | American University of the Middle East | 2018 |
4 | Italy | 271 | 6.64 | University of Portsmouth, UK | 41 | 1.00 | Raimo, Nicola | 23 | 0.56 | 19 | Italy | Lum Giuseppe Degennaro University | 2019 |
5 | Spain | 270 | 6.61 | Universiti Utara Malaysia, Malaysia | 40 | 0.98 | Vitolla, Filippo | 23 | 0.56 | 24 | Italy | LUM Jean Monnet University | 2019 |
6 | Australia | 260 | 6.37 | Xi’an Jiaotong University, China | 40 | 0.98 | García-Sánchez, Isabel-maría | 22 | 0.54 | 55 | Spain | Universidad de Salamanca | 2013 |
7 | Malaysia | 252 | 6.17 | Universitas Airlangga, Indonesia | 39 | 0.95 | Hussainey, Khaled | 22 | 0.54 | 40 | UK | University of Portsmouth | 2016 |
8 | Indonesia | 222 | 5.44 | Brunel University London, UK | 35 | 0.86 | Ntim, Collins G. | 19 | 0.47 | 40 | UK | University of Southampton | 2013 |
9 | India | 210 | 5.14 | FSEG Sfax, Tunisia | 35 | 0.86 | Jiraporn, Pornsit | 17 | 0.42 | 32 | USA | Penn State Great Valley | 2017 |
10 | South Korea | 190 | 4.65 | Universiti Teknologi MARA, Malaysia | 33 | 0.81 | Velte, Patrick | 17 | 0.42 | 26 | Germany | Info Leuphana Universität Lüneburg | 2006 |
No. | Journals | TNP | % | IF | Publisher/ Country | Main Research Topics |
---|---|---|---|---|---|---|
1 | Sustainability (Switzerland) | 530 | 12.98 | 3.9 | MDPI/Switzerland | Environmental Science and Social Sciences |
2 | Corporate Social Responsibility and Environmental Management | 220 | 5.39 | 9.8 | Wiley/UK | Business, Management, and Accounting, Environmental Science and Social Sciences |
3 | Business Strategy and the Environment | 172 | 4.21 | 13.4 | Wiley/UK | Business, Management, and Accounting, Environmental Science and Social Sciences |
4 | Journal of Cleaner Production | 119 | 2.91 | 11.1 | Elsevier/UK | Environmental Science, Engineering, Energy and Business, Management and Accounting |
5 | Journal of Business Ethics | 110 | 2.69 | 6.1 | Springer/Netherlands | Business, Management and Accounting, Economics, Econometrics and Finance, and Arts and Humanities |
6 | Corporate Governance (Bingley) | 81 | 1.98 | 5.6 | Emerald/UK | Business, Management, and Accounting |
7 | Environmental Science and Pollution Research | 73 | 1.79 | 5.8 | Springer/ Germany | Environmental Science |
8 | Social Responsibility Journal | 71 | 1.74 | 3.2 | Emerald/UK | Business, Management, Accounting, and Social Sciences |
9 | Cogent Business and Management | 53 | 1.30 | 3 | Cogent OA/ UK | Business, Management, Accounting, and Decision Sciences |
10 | Meditari Accountancy Research | 43 | 1.05 | 3.5 | Wiley/UK | Business, Management, and Accounting |
No. | Author | Cluster | Links | TLS | Citations |
---|---|---|---|---|---|
1 | García-sánchez, Isabel-maría | 4 | 7 | 18 | 1151 |
2 | Martínez-ferrero, Jennifer | 4 | 4 | 15 | 1031 |
3 | Raimo, Nicola | 1 | 6 | 50 | 996 |
4 | Vitolla, Filippo | 1 | 6 | 50 | 996 |
5 | Hussain, Nazim | 3 | 4 | 5 | 820 |
6 | Rubino, Michele | 1 | 5 | 28 | 734 |
7 | García-meca, Emma | 4 | 4 | 7 | 503 |
8 | Cuadrado-ballesteros, Beatriz | 4 | 3 | 7 | 489 |
9 | Pucheta-martínez, María Consuelo | 5 | 3 | 14 | 416 |
10 | Sial, Muhammad Safdar | 2 | 4 | 6 | 406 |
No | Author | Institution | Country | Citations | TLS | Cluster |
---|---|---|---|---|---|---|
1 | Serafeim G | Harvard Business School | USA | 1892 | 21,645 | 1 |
2 | Jensen M. C | Harvard Business School | USA | 1794 | 19,144 | 4 |
3 | Jo Hoje | Santa Clara University | USA | 1614 | 20,701 | 1 |
4 | Freeman R. E | University of Virginia | USA | 1371 | 14,369 | 2 |
5 | Garcia-sanchez I.M | Universidad de Salamanca | Spain | 1348 | 14,043 | 3 |
6 | Ioannou I | London Business School | UK | 1262 | 16,451 | 1 |
7 | Tsang A | Southern University of Science and Technology | China | 1241 | 16,010 | 1 |
8 | Guedhami O | SKK Graduate School of Business | South Korea | 1212 | 16,091 | 1 |
9 | Mcwilliams A | University of Illinois at Chicago | USA | 1174 | 14,246 | 2 |
10 | Shleifer A | Harvard University | USA | 1156 | 12,275 | 4 |
Future Research Questions and Topics | |
---|---|
ESG practices and firm value in regulatory environments | How can legal, cultural, and societal differences in ESG practices and their impact on firm value be interpreted in different organizational contexts? What are the main mechanisms and strategies through which ESG practices can enhance the value of firms? Is there a difference across different countries, industries, and cultures? Investigate the role of ESG on firm value based on industry type, ownership type, and company location. |
ESG practices and firm value, and new themes | Investigate the extent to which causal factors such as emission-related actions, workforce, innovation, and corporate strategy regarding social responsibility affect firm value. Investigate the impact of gender diversity in enhancing the relationship between ESG and firm value. Investigate the role that ESG assurance plays in enhancing firm value. How can auditing enhance the impact of ESG practices on firm value? |
ESG dimensions and firm value | How does the impact of mandatory disclosure and voluntary disclosure on ESG practices differ on firm value? How do the effects of the “E” OR “S” OR “G” dimensions differ in enhancing firm value? |
Theory | How can a more comprehensive knowledge of the relationship between ESG and corporate value be achieved by utilizing and integrating agency theory, stakeholder theory, and value-enhancing theory? In what ways do these theories complement or intersect with each other in explaining how to enhance firm value through ESG practices? |
Country/data collected | Given that ESG disclosures are a global phenomenon, research should be conducted on this topic in African, Arab, and European countries that currently lack representation. |
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Share and Cite
Cai, C.; Hazaea, S.A.; Hael, M.; Al-Matari, E.M.; Alhebri, A.; Alfadhli, A.M.H. Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review. Sustainability 2024, 16, 4239. https://doi.org/10.3390/su16104239
Cai C, Hazaea SA, Hael M, Al-Matari EM, Alhebri A, Alfadhli AMH. Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review. Sustainability. 2024; 16(10):4239. https://doi.org/10.3390/su16104239
Chicago/Turabian StyleCai, Chun, Saddam A. Hazaea, Mohammed Hael, Ebrahim Mohammed Al-Matari, Adeeb Alhebri, and Abdulmajeed Mawhan H. Alfadhli. 2024. "Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review" Sustainability 16, no. 10: 4239. https://doi.org/10.3390/su16104239