Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review

Chun Cai, Saddam A. Hazaea (), Mohammed Hael, Ebrahim Mohammed Al-Matari (), Adeeb Alhebri and Abdulmajeed Mawhan H. Alfadhli
Additional contact information
Chun Cai: School of Accounting, Southwestern University of Finance and Economics, Chengdu 611130, China
Saddam A. Hazaea: School of Accounting, Southwestern University of Finance and Economics, Chengdu 611130, China
Mohammed Hael: School of Business, Yunnan University of Finance and Economics, Kunming 650221, China
Ebrahim Mohammed Al-Matari: Department of Accounting, College of Business, Jouf University, Sakakah 75911, Saudi Arabia
Adeeb Alhebri: Accounting Program, Applied College at Muhyle Assir, King Khalid University, P.O. Box 7539, Muhyle 61735, Saudi Arabia
Abdulmajeed Mawhan H. Alfadhli: Department of Internal Audit, King Saud University, P.O. Box 2454, Riyadh 11451, Saudi Arabia

Sustainability, 2024, vol. 16, issue 10, 1-34

Abstract: Increased interest in sustainability and related issues has led to the development of disclosed corporate information on environmental, social, and governance (ESG) issues. Additionally, questions have arisen about whether these disclosures affect the firm’s value. Therefore, we conducted a bibliometric analysis coupled with a systematic literature review (SLR) of the current literature in the Scopus database from 2001 to 2023. We utilized VOS viewer, Site Space, and R Studio tools for this analysis. Our findings indicate that the relationship between ESG disclosures and the firm’s value has different effects and that disclosure impacts through various channels, such as increasing stakeholder trust. Moreover, the keyword analysis results before and after 2015 demonstrate significant advancement in the utilization of a theoretical foundation in the literature. Furthermore, China (Country), “Universidad de Salamanca” (University), “Uyar, Ali and García-Sánchez, Isabel-María” (Authors), and “ Sustainability ” and “ Corporate Social Responsibility and Environmental Management ” (Journals) were the most contributing and influential in this field. On the other hand, the results revealed six thematic clusters: society, sustainable development, ESG, organization, innovation, and stakeholders. We found promising research paths and emerging themes through content analysis of these clusters, such as sustainability assurance, green innovation, and sustainable development goals (SDGs). This review concludes by providing a roadmap that includes emerging lines of research that can be explored in depth in future studies to promote better and more comprehensive integration to achieve sustainability and maximize firm value.

Keywords: ESG disclosure; CSR disclosure; firm value; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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