Corporate ESG Performance: Research Review and Prospects

Against the global backdrop of advancing "carbon peak and carbon neutrality" alongside green transformation, ESG (Environmental, Social, and Governance) has emerged as a key research focus in both academia and industry as a comprehensive framework for evaluating corporate sustainable development performance. This paper systematically reviews the definition and theoretical foundations of ESG, highlighting its role in quantifying non-financial corporate performance through dimensions such as environmental responsibility and stakeholder management, while also interacting with long-term financial outcomes. Grounded in stakeholder theory and resource-based theory, this study examines the internal and external antecedents as well as the consequential impacts of ESG. The findings reveal that external factorssuch as industry characteristics, macroeconomic policies, and investor attentionalongside internal factors like board governance and firm size, collectively shape the heterogeneous patterns of corporate ESG performance. ESG performance enhances firm value through pathways such as fostering technological innovation, alleviating financing constraints, and reducing stock price crash risk. However, challenges such as policy uncertainty and "greenwashing" practices persist. Future research should integrate micro-level case studies with cross-cultural comparisons and explore the enabling role of emerging technologies (e.g., artificial intelligence) in ESG practices to refine evaluation frameworks and management strategies. This study provides theoretical insights for balancing economic efficiency with social value and offers practical implications for policymaking and investment decisions.

Authors

Institutions

Publication Details

Journal
Advances in Economics Management and Political Sciences
Published
2025-08-13
DOI
https://doi.org/10.54254/2754-1169/2025.lh25901
Primary Topic
Environmental Sustainability in Business
Type
article
Field-Weighted Citation Impact
0.00
Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Corporate ESG Performance: Research Review and Prospects

Menglu Ni
Advances in Economics Management and Political Sciences
Environmental Sustainability in Business
article

Corporate ESG Performance: Research Review and Prospects

Menglu Ni
article en

Abstract

Against the global backdrop of advancing "carbon peak and carbon neutrality" alongside green transformation, ESG (Environmental, Social, and Governance) has emerged as a key research focus in both academia and industry as a comprehensive framework for evaluating corporate sustainable development performance. This paper systematically reviews the definition and theoretical foundations of ESG, highlighting its role in quantifying non-financial corporate performance through dimensions such as environmental responsibility and stakeholder management, while also interacting with long-term financial outcomes. Grounded in stakeholder theory and resource-based theory, this study examines the internal and external antecedents as well as the consequential impacts of ESG. The findings reveal that external factorssuch as industry characteristics, macroeconomic policies, and investor attentionalongside internal factors like board governance and firm size, collectively shape the heterogeneous patterns of corporate ESG performance. ESG performance enhances firm value through pathways such as fostering technological innovation, alleviating financing constraints, and reducing stock price crash risk. However, challenges such as policy uncertainty and "greenwashing" practices persist. Future research should integrate micro-level case studies with cross-cultural comparisons and explore the enabling role of emerging technologies (e.g., artificial intelligence) in ESG practices to refine evaluation frameworks and management strategies. This study provides theoretical insights for balancing economic efficiency with social value and offers practical implications for policymaking and investment decisions.

Advances in Economics Management and Political SciencesVol. 207(1)
Shanghai University of Finance and Economics (CN)
Openalex Percentile: Top 73%
Environmental Sustainability in Business
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.