Notable conceptual and empirical investigations of environmental, social and governance (ESG) aspects in influencing company behaviour, investor choices and regulatory frameworks have been studied. However, no attempt has been made to synthesise and comprehend these findings. Therefore, this study aims to monitor the key research trends and set agendas for future research.
A modified PRISMA framework is the foundation for this systematic review. The Scopus database was thoroughly searched to gather the bibliographic material needed to map the critical and contributing research fields, essential authors, journals and nations. The research clusters are located using scientific mapping. Furthermore, this study conducted a thematic analysis of the literature to identify major themes, limitations and potential avenues for future investigation.
The examination of the performance mapping reveals that the area is still evolving, with an annual growth of around 30%. The thematic evolution revealed that the area is evolving from social responsibility to ESG aspects. Furthermore, the investigation discovered emerging areas, nations, authors and their associations. Moreover, thematic analysis reveals three primary research areas and four sub-themes. Lastly, the authors identify and outline possible directions for further study.
This study will assist academic scholars, policymakers and regulators by understanding the ins and outs of the business metrics and ESG arena.
Considering the trend of investments in ESG elements, it will be important for scholars, researchers and policymakers to monitor the effects of ESG variables’ relationships with corporate metrics.
