FROM ETHICAL INVESTMENT TO ESG INTEGRATION: BIBLIOMETRIC MAPPING AND IMPLICATIONS FOR FINANCIAL PERFORMANCE
DOI:
https://doi.org/10.32332/finansia.v9i2.12149Keywords:
Bibliometrics, ESG, Ethical Investment, Financial PerformanceAbstract
This study addresses the need for a comprehensive synthesis regarding the conceptual evolution from ethical investment to ESG integration within a rapidly growing yet fragmented field. It aims to map the field's thematic evolution and intellectual structure, identify key theoretical mechanisms linking ESG to financial performance, and formulate a future research agenda based on identified literature gaps. An analysis of 534 Scopus-indexed articles (2011–2024) reveals rapid publication growth (averaging 50.66% annually) and increased international collaboration. Findings indicate that the impact of ESG is conditional, heavily dependent on industry context, firm size, and regulations. Furthermore, the study identifies five critical research streams—transparency, risk management, efficiency and innovation, ratings versus reality, and contextual heterogeneity—prioritizing the development of an Islamic ESG framework that integrates Maqasid al-Shariah.
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