Mapping Research on ESG Disclosure and Firm Performance: A Systematic Bibliometric Analysis

Abstract

An increasing apprehension regarding the societal and environmental consequences of corporate profit maximization has raised concerns about “ESG disclosure” and its influence on corporate performance. Thus, the current study conducts a bibliometric-based and systematic analysis to evaluate “the impact of ESG disclosure on firm performance”. Using bibliometric methods, the current study aims to investigate the influential authors, most cited journals, and key trends in the existing literature on ESG disclosure and firm performance. Moreover, via a systematic analysis of relevant studies, the current study produces findings to assess the overall influence of ESG disclosure on the financial and operational performance of companies. The data from 10 years, i.e., 2015 to 2024, has been used for the study. The dataset includes 25 papers published from 2015 to 2024. These papers were found on Scopus using the keywords TITLE-ABS-KEY (“ESG disclosure”) AND TITLE-ABS-KEY (“impact” OR “effect”) AND TITLE-ABS-KEY (“firm profitability” OR “organization performance” OR “firm performance”). Tools like Excel and VOS Viewer were used for the analysis. The study identified four major clusters: “analyzing the interplay between corporate governance, environmental impact, and financial performance”, “the evolution of ESG dynamics in emerging markets”, “unlocking the nexus between ESG scores, financial performance, and governance disclosure” and “driving performance through ESG disclosure”. The study offers an overview of existing knowledge by integrating bibliometric and systematic insights, offering practical implications for researchers on the ESG performance relationship.