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The purpose of this research is to investigate the current state of the literature on environmental, social, and governance (ESG) investing, and study the impact of ESG ratings on firm performance. Corporate sustainability has evolved as a concept and is increasingly being integrated with investment analysis. The present study performs a systematic literature review (SLR) using the theory, context, characteristics, and methodology (TCCM) framework to provide valuable insights and research directions in the context of ESG investing. The review is based on 198 articles published from 2010 to 2022 and follows the scientific procedures and rationales for systematic literature reviews (SPAR‐4‐SLR) protocol using the Scopus database. Further, the research also re‐examines the empirical studies based on ESG as a determinant of firm performance using a meta‐analytical approach. The research findings suggest a positive impact of ESG ratings on firm performance. However, an intriguing discovery surfaced when empirical studies were segmented according to the ESG rating methodologies provided by Bloomberg and Thomson Reuters. The purpose of this research is to offer a comprehensive and collective scholarship of the subject by adopting a mixed‐method approach. Further, it provides a conceptual framework, thereby linking the various elements of ESG investing and explaining the channels of transmission of ESG translates into value creation for the shareholders. It encompasses extensive research agendas discussing barriers to ESG implementation, the materiality of ESG practices, informativeness of sustainability reporting, sustainability performance, and sustainable underpinnings.
The purpose of this research is to investigate the current state of the literature on environmental, social, and governance (ESG) investing, and study the impact of ESG ratings on firm performance. Corporate sustainability has evolved as a concept and is increasingly being integrated with investment analysis. The present study performs a systematic literature review (SLR) using the theory, context, characteristics, and methodology (TCCM) framework to provide valuable insights and research directions in the context of ESG investing. The review is based on 198 articles published from 2010 to 2022 and follows the scientific procedures and rationales for systematic literature reviews (SPAR‐4‐SLR) protocol using the Scopus database. Further, the research also re‐examines the empirical studies based on ESG as a determinant of firm performance using a meta‐analytical approach. The research findings suggest a positive impact of ESG ratings on firm performance. However, an intriguing discovery surfaced when empirical studies were segmented according to the ESG rating methodologies provided by Bloomberg and Thomson Reuters. The purpose of this research is to offer a comprehensive and collective scholarship of the subject by adopting a mixed‐method approach. Further, it provides a conceptual framework, thereby linking the various elements of ESG investing and explaining the channels of transmission of ESG translates into value creation for the shareholders. It encompasses extensive research agendas discussing barriers to ESG implementation, the materiality of ESG practices, informativeness of sustainability reporting, sustainability performance, and sustainable underpinnings.
The changing environment forces investors to evaluate investments not only from a financial point of view, but also in terms of environmental, social and governance (ESG). Cryptocurrencies are no exception in this case. There are still a few cryptocurrency studies that are designed to evaluate cryptocurrencies and investments in them in the context of ESG. The purpose of this topic is to define theoretically the compliance of investing in cryptocurrencies with ESG criteria by identifying research trends. This study uses scientific literature and bibliometric analysis to investigate the relevance and trends of the field of investments in cryptocurrencies in the context of ESG.
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