ESG: Research Progress and Future Prospects
( Pp. 60-66)

More about authors
Razov Pavel V. Dr. Sci. (Sociol.); Professor at the Department of Sociology, History and Philosophy
Financial University
Moscow, Russian Federation
For read the full article, please, register or log in
Abstract:
The sustainable development of the global economy and society calls for the practice of the environmental, social and governance (ESG) principle. The ESG principle has been developed for 17 years following its formal proposal in 2004. Countries around the world continue to promote the coordinated development of the environment, society, and governance in accordance with the ESG principle. In order to review and summarize ESG research, this study takes the literature related to ESG research as the research object and presents the cooperation status, hot spots, and trends of ESG research. This study presents an examination and comprehensive summary of progress in the research into ESG combined with a systematic literature review. This includes the theoretical basis of ESG research, the interaction between the dimensions of ESG, the impact of ESG on the economic consequences, the risk prevention role of ESG, and ESG measurement. Based on the systematic summary of research progress, this paper further refines the characteristics of ESG research, reveals the shortcomings of ESG research, and propose a focus for ESG research in the future in order to provide a reference for academic research and the practice of ESG.
How to Cite:
Razov P.V., (2022), ESG: RESEARCH PROGRESS AND FUTURE PROSPECTS. Sociopolitical Sciences, 2: 60-66. DOI: 10.33693/2223-0092-2022-12-2-60-66
Reference list:
Bataeva B.S., Vavilina A.V. Foreign practice of development of socially responsible investments. Bulletin of the Saratov University. New Series. Series: Economics. Management. Right. 2016. No. 1. Pp. 15-23. (In Rus.) URL:https://doi.org/10.18500/1994-2540-2016-16-1-15-23 (data of accesses: 08.04.2022).
Vostrikova E.O., Meshkova A.P. ESG-criteria in investing: foreign and domestic experience. Financial Magazine. 2020. No. 4. (In Rus.) URL:https://cyberleninka.ru/article/n/esg-kriterii-v-investirovanii-zarubezhnyy-i-otechestvennyy-opyt (date of access: 08.04.2022).
Galazova S.S. Influence of ESG-factors on the sustainable development of companies and financial performance of the corporate sector. RSUE Bulletin. 2018. No. 4 (64). Pp. 81-86. (In Rus.)
Daugaard D. Emerging new themes in environmental, social and governance investing: A systematic literature review // Account Finance. 2020. No. 60. Pp. 1501-1530.
Widyawati L.A systematic literature review of socially responsible investment and environmental social governance metrics // Bus. Strateg. Environ. 2020. No. 29. Pp. 619-637.
Drempetic S., Klein C., Zwergel B. The influence of firm size on the ESG score: Corporate sustainability ratings under review // J. Bus. Ethics. 2020. No. 167. Pp. 333-360.
Eccles N.S., Viviers S. The origins and meanings of names describing investment practices that integrate a consideration of ESG issues in the academic literature // J. Bus. Ethics. 2011. No. 104. Pp. 389-402.
Ziolo M., Filipiak B.Z., Bak I., Cheba K. How to design more sustainable financial systems: The roles of environmental, social, and governance factors in the decision-making process // Sustainability. 2019. No. 11. P. 5604.
Yoshikawa T., Nippa M., Chua G. Global shift towards stakeholder-oriented corporate governance Evidence from the scholarly literature and future research opportunities // Multinat. Bus. Rev. 2021. No. 29. Pp. 321-347.
Aluchna M., Roszkowska-Menkes M. Integrating corporate social responsibility and corporate governance at the company level. Towards a conceptual model // Eng. Econ. 2019. No. 30. Pp. 349-361.
Petrenko L.D. ESG-criteria in the practice of making investment decisions. International Research Journal. 2020. No. 11-2 (101). (In Rus.) URL:https://cyberleninka.ru/article/n/esg-kriterii-v-praktike-prinyatiya-investitsionnyh-resheniy (data of accesses: 08.04.2022).
Garcia A.S., Mendes-Da-Silva W., Orsato R.J. Sensitive industries produce better ESG performance: Evidence from emerging markets // J. Clean. Prod. 2017. No. 150. Pp. 135-147.
Chatterji A.K., Toffel M.W. How firms respond to being rated // Strateg. Manag. J. 2010. No. 31. Pp. 917-945.
Jayachandran S., Kalaignanam K., Eilert M. Product and environmental social performance: Varying effect on firm performance // Strateg. Manag. J. 2013. No. 34. Pp. 1255-1264.
Koh P.-S., Qian C., Wang H. Firm litigation risk and the insurance value of corporate social performance // Strateg. Manag. J. 2014. No. 35. Pp. 1464-1482.
Flammer C., Hong B., Minor D. Corporate governance and the rise of integrating corporate social responsibility criteria in executive compensation: Effectiveness and implications for firm outcomes // Strateg. Manag. J. 2019. No. 40. Pp. 1097-1122.
K lbel J.F., Busch T., Jancso L.M. How media coverage of corporate social irresponsibility increases financial risk // Strateg. Manag. J. 2017. No. 38. Pp. 2266-2284.
Surroca J., Trib J.A., Waddock S. Corporate responsibility and financial performance: The role of intangible resources // Strateg. Manag. J. 2010. No. 31. Pp. 463-490.
Muller A., Kr ussl R. Doing good deeds in times of need: A strategic perspective on corporate disaster donations // Strateg. Manag. J. 2011. No. 32. Pp. 911-929.
Flammer C., Kacperczyk A. Corporate social responsibility as a defense against knowledge spillovers: Evidence from the inevitable disclosure doctrine // Strateg. Manag. J. 2019. No. 40. Pp. 1243-1267.
Davidson R.H., Dey A., Smith A.J. CEO materialism and corporate social responsibility // Account. Rev. 2019. No. 94. Pp. 101-126.
Cheng B., Ioannou I., Serafeim G. Corporate social responsibility and access to finance // Strateg. Manag. J. 2014. No. 35. Pp. 1-23.
Kim Y., Park M.S., Wier B. Is earnings quality associated with corporate social responsibility // Account Rev. 2012. No. 87. Pp. 761-796.
Gao F., Lisic L.L., Zhang I.X. Commitment to social good and insider trading // Account Econ. 2014. No. 57. Pp. 149-175.
Hubbard T.D., Christensen D.M., Graffin S.D. Higher highs and lower lows: The role of corporate social responsibility in CEO dismissal // Strateg. Manag. J. 2017. No. 38. Pp. 2255-2265.
Khan M., Serafeim G., Yoon A. Corporate sustainability: First evidence on materiality // Account Rev. 2016. No. 91. Pp. 1697-1724.
Awaysheh A., Heron R.A., Perry T., Wilson J.I. On the relation between corporate social responsibility and financial performance // Strateg. Manag. J. 2020. No. 41. Pp. 965-987.
Jia Y., Gao X., Julian S. Do firms use corporate social responsibility to insure against stock price risk Evidence from a natural experiment // Strateg. Manag. J. 2020. No. 41. Pp. 290-307.
Keywords:
ESG, ESG, research, literature, principles, trends, management, corporate culture.