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ESG disclosure and Firm performance: A bibliometric and meta analysis

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  • Khan, Muhammad Arif

Abstract

Companies engage in ESG activities in order to achieve higher financial returns and to signal compliance in the market. The link between ESG and firm financial performance is still not well established because literature is infused with conflicting results and paradoxes. Through bibliometric analysis and meta-analysis, this study attempts to synthesize literature on ESG performance and its impact on performance. Bibliometric analysis highlights top scholars in the field, leading journals, institutions, countries, and an overview of highly cited articles in sustainable finance. This study presents three research streams: (1) Firm characteristics and ESG performance, (2) Corporate governance and ESG performance and (3) Financial materiality of ESG disclosure. Additionally, I conducted a meta-analysis in which I used random effects models to compute the effect sizes of each research stream. Finally, research trends and a future research framework are proposed based on the research gap identified in this review.

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  • Khan, Muhammad Arif, 2022. "ESG disclosure and Firm performance: A bibliometric and meta analysis," Research in International Business and Finance, Elsevier, vol. 61(C).
    • Handle: RePEc:eee:riibaf:v:61:y:2022:i:c:s0275531922000563
    DOI: 10.1016/j.ribaf.2022.101668
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    8. Piñeiro-Chousa, Juan & López-Cabarcos, M. Ángeles & Pérez-Pico, Ada M. & Caby, Jérôme, 2023. "The influence of Twitch and sustainability on the stock returns of video game companies: Before and after COVID-19," Journal of Business Research, Elsevier, vol. 157(C).
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    13. Cheng, Louis T.W. & Lee, Shu Kam & Li, Sung Ko & Tsang, Chun Kei, 2023. "Understanding resource deployment efficiency for ESG and financial performance: A DEA approach," Research in International Business and Finance, Elsevier, vol. 65(C).

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    More about this item

    Keywords

    ESG; Disclosure; Financial materiality; Bibliometric analysis; Meta-analysis;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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