Unveiling sustainable practices in financial institutions: A bibliometric analysis cum meta-analytical review on enhancing financial performance

IF 8.3 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2024-12-05 DOI:10.1002/csr.3064

Mousumi Ghosh, Manvendra Pratap Singh

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Abstract

The heightened awareness of environmental and social concerns has prompted businesses, including financial institutions (hereto FIs), to incorporate non-financial factors into their operations for long-term sustainability and value creation. Despite FI's crucial role in resource allocation and national stability, there remains a notable gap in comprehensive research on the significance of sustainable practices for driving financial performance (hereto FP) within these institutions. This study addresses this gap through a systematic review of 533 articles from (1983–2024), employing bibliometric analysis to map key contributors, themes, and future research directions. Additionally, a meta-analysis of 40 articles assesses the relationship between sustainable practices and banks' FP. Results show a positive yet weak association between the two, suggesting that banks have not fully embraced sustainable principles in it. Social and governance practices positively correlated with FP, while environmental factors exhibit a negative relationship. This may be due to the required investment, the time differential to materialize the same, and other factors adhering to the relationship, such as innovation, development of sustainable products, or adherence to sustainable processes for screening investment choices. The study concludes by discussing implications and offering suggestions for further research.

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来源期刊

Corporate Social Responsibility and Environmental Management Multiple-

CiteScore

17.20

自引率

16.30%

发文量

189

期刊介绍： Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas. The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.