Table 6

Prominent theoretical lenses, models and frameworks used in sustainable finance and financial performance literature

Theory/model/frameworkSample articlesTotal number of articles
Stakeholder theoryLynch & O'Hagan-Luff (2023), Kalia and Aggarwal (2022), Deng, Wu, and Qin (2022), Velte (2017), Lin et al. (2009), Vogel (2005) 84
Resource-based viewLe (2023), Lichtenthaler (2022), Kuo et al. (2021), Koroleva et al. (2020), Anser, Zhang, and Kanwal (2018), Jiao et al. (2022) 27
Institutional theoryGupta and Gupta (2021), Weber (2017), Marti et al. (2015), Doh et al. (2010) 16
Agency theorySideri (2023), Bodhanwala and Bodhanwala (2022), Peng and Isa (2020) 14
Legitimacy theoryKhanchel et al. (2023), Shin et al. (2023), Wahyudi et al. (2018) 11
Slack resource theoryRa (2021), Adegbite, Guney, Kwabi, and Tahir (2019), Moneva et al. (2020) 5

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