Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables
This study conducts a comprehensive bibliometric analysis and systematic review to investigate the moderating variables that influence the relationship between Environmental, Social, and Governance (ESG) measures, Corporate Social Responsibility (CSR) measures, and Corporate Financial Performance (C...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2025-01-01
|
| Series: | Journal of Innovation & Knowledge |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2444569X24001872 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850121730819883008 |
|---|---|
| author | Marcos Alexandre dos Reis Cardillo Leonardo Fenando Cruz Basso |
| author_facet | Marcos Alexandre dos Reis Cardillo Leonardo Fenando Cruz Basso |
| author_sort | Marcos Alexandre dos Reis Cardillo |
| collection | DOAJ |
| description | This study conducts a comprehensive bibliometric analysis and systematic review to investigate the moderating variables that influence the relationship between Environmental, Social, and Governance (ESG) measures, Corporate Social Responsibility (CSR) measures, and Corporate Financial Performance (CFP). Analyzing 108 articles from the Web of Science and Scopus databases published between 2019 and 2023, the study identifies key variables, influential studies, and methodological approaches within the ESG/CSR-CFP nexus. The findings reveal that moderating variables such as governance structures, cultural norms, technological readiness, market maturity, economic conditions, industry characteristics, firm strategy, and CSR engagement levels significantly impact the strength and direction of ESG and CSR effects on financial performance. However, the literature demonstrates considerable inconsistencies due to diverse research designs, varying definitions of ESG and CFP, and underrepresentation of moderating variables such as social and cultural factors, technological readiness, and firm-specific characteristics. The study highlights the need for more standardized variables, advanced research methodologies, and a broader exploration of these underexamined moderating variables to develop a more nuanced understanding of how ESG and CSR initiatives influence corporate financial outcomes. This work provides a framework for future research to address these gaps, enhancing the academic discourse on corporate sustainability and financial performance. |
| format | Article |
| id | doaj-art-8e2b251384ad4da2bbc53e3f38e7a467 |
| institution | OA Journals |
| issn | 2444-569X |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Innovation & Knowledge |
| spelling | doaj-art-8e2b251384ad4da2bbc53e3f38e7a4672025-08-20T02:35:00ZengElsevierJournal of Innovation & Knowledge2444-569X2025-01-0110110064810.1016/j.jik.2024.100648Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variablesMarcos Alexandre dos Reis Cardillo0Leonardo Fenando Cruz Basso1Doctorate in Business Administration Course, Mackenzie Presbyterian University, Rua Ibiraja, no 221, apto 81, Vila Guarani, São Paulo, São Paulo 04310-020, Brazil; Corresponding author.Mackenzie Presbyterian University, São Paulo, BrazilThis study conducts a comprehensive bibliometric analysis and systematic review to investigate the moderating variables that influence the relationship between Environmental, Social, and Governance (ESG) measures, Corporate Social Responsibility (CSR) measures, and Corporate Financial Performance (CFP). Analyzing 108 articles from the Web of Science and Scopus databases published between 2019 and 2023, the study identifies key variables, influential studies, and methodological approaches within the ESG/CSR-CFP nexus. The findings reveal that moderating variables such as governance structures, cultural norms, technological readiness, market maturity, economic conditions, industry characteristics, firm strategy, and CSR engagement levels significantly impact the strength and direction of ESG and CSR effects on financial performance. However, the literature demonstrates considerable inconsistencies due to diverse research designs, varying definitions of ESG and CFP, and underrepresentation of moderating variables such as social and cultural factors, technological readiness, and firm-specific characteristics. The study highlights the need for more standardized variables, advanced research methodologies, and a broader exploration of these underexamined moderating variables to develop a more nuanced understanding of how ESG and CSR initiatives influence corporate financial outcomes. This work provides a framework for future research to address these gaps, enhancing the academic discourse on corporate sustainability and financial performance.http://www.sciencedirect.com/science/article/pii/S2444569X24001872G300 corporate finance and governanceGeneral |
| spellingShingle | Marcos Alexandre dos Reis Cardillo Leonardo Fenando Cruz Basso Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables Journal of Innovation & Knowledge G300 corporate finance and governance General |
| title | Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables |
| title_full | Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables |
| title_fullStr | Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables |
| title_full_unstemmed | Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables |
| title_short | Revisiting knowledge on ESG/CSR and financial performance: A bibliometric and systematic review of moderating variables |
| title_sort | revisiting knowledge on esg csr and financial performance a bibliometric and systematic review of moderating variables |
| topic | G300 corporate finance and governance General |
| url | http://www.sciencedirect.com/science/article/pii/S2444569X24001872 |
| work_keys_str_mv | AT marcosalexandredosreiscardillo revisitingknowledgeonesgcsrandfinancialperformanceabibliometricandsystematicreviewofmoderatingvariables AT leonardofenandocruzbasso revisitingknowledgeonesgcsrandfinancialperformanceabibliometricandsystematicreviewofmoderatingvariables |