IDEAS home Printed from https://ideas.repec.org/a/wly/buseth/v35y2026i2p593-613.html

Environmental, Social, and Governance in Family Firms: A Bibliometric Review and Agenda for Future Research

Author

Listed:
  • ChangYi Zhu
  • Alexandra Simón Villar
  • BingBing Ge

Abstract

This paper reviews the literature on the relationship between environmental, social, and governance (ESG) engagement and family firms. Drawing from mainstream databases, it identifies and analyzes 34 pivotal articles. Research on ESG and family firms is still emerging, but inconsistent findings and paradoxes obscure the field. Specifically, variations in theory, region, and research methods shape the relationship between family firms and ESG. This study uses bibliometric analysis to synthesize the literature to clarify ESG performance and its implications for family firms. Building on these findings, it proposes a theory‐driven research agenda to address existing gaps and guide future studies. By advancing theoretical frameworks, this study enhances the understanding of ESG in family firms and outlines directions for further research.

Suggested Citation

  • ChangYi Zhu & Alexandra Simón Villar & BingBing Ge, 2026. "Environmental, Social, and Governance in Family Firms: A Bibliometric Review and Agenda for Future Research," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 35(2), pages 593-613, April.
  • Handle: RePEc:wly:buseth:v:35:y:2026:i:2:p:593-613
    DOI: 10.1111/beer.12805
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/beer.12805
    Download Restriction: no

    File URL: https://libkey.io/10.1111/beer.12805?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Donthu, Naveen & Kumar, Satish & Mukherjee, Debmalya & Pandey, Nitesh & Lim, Weng Marc, 2021. "How to conduct a bibliometric analysis: An overview and guidelines," Journal of Business Research, Elsevier, vol. 133(C), pages 285-296.
    2. Mattias Nordqvist & Pramodita Sharma & Francesco Chirico, 2014. "Family Firm Heterogeneity and Governance: A Configuration Approach," Journal of Small Business Management, Taylor & Francis Journals, vol. 52(2), pages 192-209, April.
    3. David L. Deephouse & Peter Jaskiewicz, 2013. "Do Family Firms Have Better Reputations Than Non-Family Firms? An Integration of Socioemotional Wealth and Social Identity Theories," Journal of Management Studies, Wiley Blackwell, vol. 50(3), pages 337-360, May.
    4. Brigitte Hoogendoorn & Daniela Guerra & Peter Zwan, 2015. "What drives environmental practices of SMEs?," Small Business Economics, Springer, vol. 44(4), pages 759-781, April.
    5. Samara, Georges, 2021. "Family businesses in the Arab Middle East: What do we know and where should we go?," Journal of Family Business Strategy, Elsevier, vol. 12(3).
    6. Feng, Jingyu & Yuan, Ying, 2024. "Green investors and corporate ESG performance: Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    7. Valentina Lagasio & Nicola Cucari, 2019. "Corporate governance and environmental social governance disclosure: A meta‐analytical review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(4), pages 701-711, July.
    8. Knudsen, Jette Steen & Moon, Jeremy, 2022. "Corporate Social Responsibility and Government: The Role of Discretion for Engagement with Public Policy," Business Ethics Quarterly, Cambridge University Press, vol. 32(2), pages 243-271, April.
    9. Kojima Koji & Bishnu Kumar Adhikary & Le Tram, 2020. "Corporate Governance and Firm Performance: A Comparative Analysis between Listed Family and Non-Family Firms in Japan," JRFM, MDPI, vol. 13(9), pages 1-20, September.
    10. Miroshnychenko, Ivan & De Massis, Alfredo, 2022. "Sustainability practices of family and nonfamily firms: A worldwide study," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    11. Michael Carney & Marc Van Essen & Eric R. Gedajlovic & Pursey P.M.A.R. Heugens, 2015. "What do we know about Private Family Firms? A Meta–Analytical Review," Entrepreneurship Theory and Practice, , vol. 39(3), pages 513-544, May.
    12. Thomas Bourveau & François Brochet & Alexandre Garel, 2022. "The Capital Market Consequences of Tenure-Based Voting Rights: Evidence from the Florange Act," Management Science, INFORMS, vol. 68(12), pages 9107-9128, December.
    13. Walid Ben‐amar & Claude Francoeur & Sylvain Marsat & Aida Sijamic Wahid, 2021. "How do firms achieve corporate social performance? An integrated perspective," Post-Print hal-03223669, HAL.
    14. Breton-Miller, Isabelle Le & Miller, Danny, 2016. "Family firms and practices of sustainability: A contingency view," Journal of Family Business Strategy, Elsevier, vol. 7(1), pages 26-33.
    15. Giovanna Gavana & Pietro Gottardo & Anna Maria Moisello, 2022. "Related Party Transactions and Earnings Management: The Moderating Effect of ESG Performance," Sustainability, MDPI, vol. 14(10), pages 1-21, May.
    16. Davila, Jessenia & Duran, Patricio & Gómez-Mejía, Luis & Sanchez-Bueno, Maria J., 2023. "Socioemotional wealth and family firm performance: A meta-analytic integration," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    17. Amal Aouadi & Sylvain Marsat, 2018. "Do ESG Controversies Matter for Firm Value? Evidence from International Data," Post-Print halshs-02007374, HAL.
    18. Mikel Alayo & Txomin Iturralde & Amaia Maseda & Gloria Aparicio, 2021. "Mapping family firm internationalization research: bibliometric and literature review," Review of Managerial Science, Springer, vol. 15(6), pages 1517-1560, August.
    19. Thomas Bourveau & François Brochet & Alexandre Garel, 2022. "The Capital Market Consequences of Tenure-Based Voting Rights: Evidence from the Florange Act," Post-Print hal-03844023, HAL.
    20. Shima Amini & Sofia Johan & Eilnaz Kashefi Pour & Abdulkadir Mohamed, 2023. "Employee Welfare, Social Capital, and IPO Firm Survival," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2174-2204, November.
    21. Hasan Mohamad Bamahros & Abdulsalam Alquhaif & Ameen Qasem & Wan Nordin Wan-Hussin & Murad Thomran & Shaker Dahan Al-Duais & Siti Norwahida Shukeri & Hytham M. A. Khojally, 2022. "Corporate Governance Mechanisms and ESG Reporting: Evidence from the Saudi Stock Market," Sustainability, MDPI, vol. 14(10), pages 1-20, May.
    22. Limin Geng & Xueyuan Lu & Can Zhang, 2023. "The Theoretical Lineage and Evolutionary Logic of Research on the Environmental Behavior of Family Firms: A Literature Review," IJERPH, MDPI, vol. 20(6), pages 1-23, March.
    23. Xu, Nana & Chen, Jiaqi & Zhou, Fangzhao & Dong, Qing & He, Zhifang, 2023. "Corporate ESG and resilience of stock prices in the context of the COVID-19 pandemic in China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    24. Shaista Wasiuzzaman & Vasanthan Subramaniam, 2023. "Board gender diversity and environmental, social and governance (ESG) disclosure: Is it different for developed and developing nations?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2145-2165, September.
    25. Amal Aouadi & Sylvain Marsat, 2018. "Do ESG Controversies Matter for Firm Value? Evidence from International Data," Journal of Business Ethics, Springer, vol. 151(4), pages 1027-1047, September.
    26. Walid Ben‐Amar & Claude Francoeur & Sylvain Marsat & Aida Sijamic Wahid, 2021. "How do firms achieve corporate social performance? An integrated perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(3), pages 1078-1090, May.
    27. Laura Broccardo & Elisa Truant & Adrian Zicari, 2019. "Internal corporate sustainability drivers: What evidence from family firms? A literature review and research agenda," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(1), pages 1-18, January.
    28. Benjamin Cashore & Jette Steen Knudsen & Jeremy Moon & Hamish van der Ven, 2021. "Private authority and public policy interactions in global context: Governance spheres for problem solving," Regulation & Governance, John Wiley & Sons, vol. 15(4), pages 1166-1182, October.
    29. Ricky Chung & Lyndie Bayne & Jacqueline Louise Birt, 2023. "Determinants of ESG disclosure among listed firms under voluntary and mandatory ESG disclosure regimes in Hong Kong," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 25(4), pages 812-836, January.
    30. Scholes, Louise & Hughes, Mathew & Wright, Mike & De Massis, Alfredo & Kotlar, Josip, 2021. "Family management and family guardianship: Governance effects on family firm innovation strategy," Journal of Family Business Strategy, Elsevier, vol. 12(4).
    31. Martina Sageder & Christine Mitter & Birgit Feldbauer‐Durstmüller, 2018. "Image and reputation of family firms: a systematic literature review of the state of research," Review of Managerial Science, Springer, vol. 12(1), pages 335-377, January.
    32. Céline LOUCHE & Guillaume DELAUTRE & Gabriela BALVEDI PIMENTEL, 2023. "Assessing companies' decent work practices: An analysis of ESG rating methodologies," International Labour Review, International Labour Organization, vol. 162(1), pages 69-97, March.
    33. Tenuta, Paolo & Cambrea, Domenico Rocco, 2022. "Corporate social responsibility and corporate financial performance: The role of executive directors in family firms," Finance Research Letters, Elsevier, vol. 50(C).
    34. Dumrose, Maurice & Rink, Sebastian & Eckert, Julia, 2022. "Disaggregating confusion? The EU Taxonomy and its relation to ESG rating," Finance Research Letters, Elsevier, vol. 48(C).
    35. Min-Jung Kang & Seul-Gi Oh & Ho-Young Lee, 2022. "The Association between Outside Directors’ Compensation and ESG Performance: Evidence from Korean Firms," Sustainability, MDPI, vol. 14(19), pages 1-22, September.
    36. Eva López‐González & Jennifer Martínez‐Ferrero & Emma García‐Meca, 2019. "Does corporate social responsibility affect tax avoidance: Evidence from family firms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(4), pages 819-831, July.
    37. Luk Luk Fuadah & Mukhtaruddin Mukhtaruddin & Isni Andriana & Anton Arisman, 2022. "The Ownership Structure, and the Environmental, Social, and Governance (ESG) Disclosure, Firm Value and Firm Performance: The Audit Committee as Moderating Variable," Economies, MDPI, vol. 10(12), pages 1-16, December.
    38. Kong, Wen, 2023. "The impact of ESG performance on debt financing costs: Evidence from Chinese family business," Finance Research Letters, Elsevier, vol. 55(PB).
    39. Abeysekera, Amal P. & Fernando, Chitru S., 2020. "Corporate social responsibility versus corporate shareholder responsibility: A family firm perspective," Journal of Corporate Finance, Elsevier, vol. 61(C).
    40. Elizabeth Stanny & Kirsten Ely, 2008. "Corporate environmental disclosures about the effects of climate change," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 15(6), pages 338-348, November.
    41. Florian Berg & Julian F Kölbel & Roberto Rigobon, 2022. "Aggregate Confusion: The Divergence of ESG Ratings [Corporate social responsibility and firm risk: theory and empirical evidence]," Review of Finance, European Finance Association, vol. 26(6), pages 1315-1344.
    42. Christian Espinosa-Méndez & Carlos P. Maquieira & José T. Arias, 2023. "The Impact of ESG Performance on the Value of Family Firms: The Moderating Role of Financial Constraints and Agency Problems," Sustainability, MDPI, vol. 15(7), pages 1-20, April.
    43. Bohyun Yoon & Jeong Hwan Lee & Ryan Byun, 2018. "Does ESG Performance Enhance Firm Value? Evidence from Korea," Sustainability, MDPI, vol. 10(10), pages 1-18, October.
    44. Nees Jan Eck & Ludo Waltman, 2010. "Software survey: VOSviewer, a computer program for bibliometric mapping," Scientometrics, Springer;Akadémiai Kiadó, vol. 84(2), pages 523-538, August.
    45. Alexandre Clément & Élisabeth Robinot & Léo Trespeuch, 2023. "The use of ESG scores in academic literature: a systematic literature review," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing Limited, vol. 19(1), pages 92-110, March.
    46. Ole Ellegaard & Johan A. Wallin, 2015. "The bibliometric analysis of scholarly production: How great is the impact?," Scientometrics, Springer;Akadémiai Kiadó, vol. 105(3), pages 1809-1831, December.
    47. Lee, Michael T. & Raschke, Robyn L., 2023. "Stakeholder legitimacy in firm greening and financial performance: What about greenwashing temptations?☆," Journal of Business Research, Elsevier, vol. 155(PB).
    48. Baili Yang & Abraham Y. Nahm & Zengji Song, 2022. "Succession in family business and environmental investment: the moderating role of external environment," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 5997-6015, December.
    49. Naciye Sekerci & Jamil Jaballah & Marc van Essen & Nadine Kammerlander, 2022. "Investors’ Reactions to CSR News in Family Versus Nonfamily Firms: A Study on Signal (In)credibility," Entrepreneurship Theory and Practice, , vol. 46(1), pages 82-116, January.
    50. Rehman, Atiqa & Gonenc, Halit & Hermes, Niels, 2023. "Corporate social performance of family firms and shareholder protection: An international analysis," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    51. Zheng, Zhigang & Li, Jiarong & Ren, Xingzi & Guo, Jie Michael, 2023. "Does corporate ESG create value? New evidence from M&As in China," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    52. Thomas M. Zellweger & Robert S. Nason & Mattias Nordqvist & Candida G. Brush, 2013. "Why Do Family Firms Strive for Nonfinancial Goals? An Organizational Identity Perspective," Entrepreneurship Theory and Practice, , vol. 37(2), pages 229-248, March.
    53. Li Chang & Wenjing Li & Xiaoyan Lu, 2015. "Government Engagement, Environmental Policy, and Environmental Performance: Evidence from the Most Polluting Chinese Listed Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 24(1), pages 1-19, January.
    54. Luis R. Gomez‐Mejia & Marianna Makri & Martin Larraza Kintana, 2010. "Diversification Decisions in Family‐Controlled Firms," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 223-252, March.
    55. Abdulsamad Alazzani & Wan Nordin Wan-Hussin & Michael Jones & Ahmed Al-hadi, 2021. "ESG Reporting and Analysts’ Recommendations in GCC: The Moderation Role of Royal Family Directors," JRFM, MDPI, vol. 14(2), pages 1-21, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sakhr Bani-Khaled & Graça Azevedo & Jonas Oliveira, 2025. "Environmental, social, and governance (ESG) factors and firm value: A systematic literature review of theories and empirical evidence," AMS Review, Springer;Academy of Marketing Science, vol. 15(1), pages 228-260, June.
    2. Stephen Oduro & Rana Muhammad Umar & Alfredo De Massis & Leul Girma Haylemariam, 2025. "Corporate social responsibility and family firm performance: A meta‐analytic review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 1412-1443, March.
    3. Francesco Gangi & Nicola Varrone & Lucia Michela Daniele & Eugenio D'Angelo & Maria Coscia, 2025. "Does It Pay for Family Firms to Go Green? The Moderating Role of Familiness," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(4), pages 5490-5520, July.
    4. Mohamed Rashwan & Nardin Farouk & Rania Pasha, 2025. "Can ESG Strategies Drive Firm Value Growth in the MENA Region?," Sustainability, MDPI, vol. 17(17), pages 1-30, September.
    5. Haider, Zulfiquer & Wang, Yefeng & Wang, Yuan, 2024. "Family firm, financial constraint, and environmental preparedness: An international study," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 92(C).
    6. Borsuk, Marcin & Eugster, Nicolas & Klein, Paul-Olivier & Kowalewski, Oskar, 2024. "Family firms and carbon emissions," Journal of Corporate Finance, Elsevier, vol. 89(C).
    7. Sabela Siaba & Berta Rivera, 2024. "The evolution of the field of family business research over a decade (2012–2022)," Small Business Economics, Springer, vol. 63(3), pages 1089-1115, October.
    8. Barbara Maggi & Rafaela Gjergji & Luigi Vena & Salvatore Sciascia & Alessandro Cortesi, 2023. "Family firm status and environmental disclosure: The moderating effect of board gender diversity," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 32(4), pages 1334-1351, October.
    9. Galletta, Simona & Goodell, John W. & Mazzù, Sebastiano & Paltrinieri, Andrea, 2025. "The impact of environmental disclosure and controversies on bank value," Journal of Economics and Business, Elsevier, vol. 134.
    10. James J. Cordeiro & Giorgia Profumo & Ilaria Tutore, 2021. "Family ownership and stockholder reactions to environmental performance disclosure: A test of secondary agency relationships," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2091-2107, May.
    11. Wu, Bao & Chen, Feng & Li, Lanhua & Xu, Lei & Liu, Zijia & Wu, Yaoyao, 2025. "Institutional investor ESG activism and exploratory green innovation: Unpacking the heterogeneous responses of family firms across intergenerational contexts," The British Accounting Review, Elsevier, vol. 57(4).
    12. Anita Mendiratta & Shveta Singh & Surendra Singh Yadav & Arvind Mahajan, 2023. "Bibliometric and Topic Modeling Analysis of Corporate Social Irresponsibility," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(3), pages 319-339, September.
    13. Ramona Waldau, 2025. "A systematic literature review on determinants and outcomes of ESG performance in family firms," Management Review Quarterly, Springer, vol. 75(4), pages 3357-3415, December.
    14. Eleonora P. Stancheva-Todorova, 2025. "Esg Ratings And Indexes: Benefits And Limitations," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 19(1), pages 64-81.
    15. Meng, Shuang & Gomez-Mejia, Luis R. & Yi, Jingtao, 2024. "Political embeddedness, socioemotional wealth, and R&D investment in family firms: Evidence from China as a transition economy," Journal of Family Business Strategy, Elsevier, vol. 15(3).
    16. Li, Ruiqian & Huang, Tong & Ramanathan, Ramakrishnan, 2026. "Turning perception into impact: ESG risk perception and ESG controversies," Research in International Business and Finance, Elsevier, vol. 81(C).
    17. Ivan Miroshnychenko & Danny Miller & Alfredo Massis & Isabelle Breton-Miller, 2025. "Are family firms green?," Small Business Economics, Springer, vol. 64(2), pages 279-306, February.
    18. Ada Domańska & Remedios Hernández‐Linares & Robert Zajkowski & Beata Żukowska, 2024. "Family firm entrepreneurship and sustainability initiatives: Women as corporate change agents," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 33(2), pages 217-240, April.
    19. Andrew Clare & Carlos Manuel Pinheiro & Alberto Franco Pozzolo, 2025. "Does the Attentiveness of NEDs to ESG Issues Influence Corporate Sustainability?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(6), pages 7938-7955, November.
    20. Chau, Le & Anh, Le & Duc, Vo, 2025. "Valuing ESG: How financial markets respond to corporate sustainability," International Business Review, Elsevier, vol. 34(3).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:buseth:v:35:y:2026:i:2:p:593-613. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://onlinelibrary.wiley.com/journal/26946424 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.