A comparative and conceptual intellectual study of environmental topic in Economic and Finance

International Review of Financial Analysis, Volume 91, 103023, January 2024, DOI: 10.1016/j.irfa.2023.103023

44 Pages Posted: 2 Dec 2022 Last revised: 9 Jan 2024

See all articles by Meilan Yan

Meilan Yan

Loughborough University

Youwei Li

Hull University Business School

Athanasios A. Pantelous

Monash University - Department of Econometrics & Business Statistics

Samuel Vigne

Trinity College (Dublin) - Trinity Business School

Dalu Zhang

University of Salford - Salford Business School

Date Written: August 14, 2022

Abstract

We aim to provide a comprehensive overview of the past, present, and future development of environmental related topics in Economics and Finance. In this regard, Environmental Finance (EF)- and Environmental, Social, and Governance (ESG)-related literature is col-lected and analysed. The paper draws chronical pictures of the topic development in these two recently developed fields by applying bibliometric methods. Then, we provide a novel systemic comparison on their main differences. Reviewing the top journal publications, we identify literature gaps for a future research agenda. In particular, on the one hand, for EF, we suggest exploring various financial innovations to generate environmental benefits re-search, and thus building up efficient regulatory framework for addressing major regional and/or global environmental issues. On the other hand, for ESG, we respectively provide potential research directions to conduct the cost-benefit study on the real impact of ESG disclosure and to evaluate how ESG investment strategy efficiently deliver sustainable development.

Keywords: Environmental Finance (EF), Environmental Social and Governance (ESG), Financial innovations, bibliometric analysis, ESG disclosure and investment

JEL Classification: A10, A12, C88, F64, Q01, Q40, Q56

Suggested Citation

Yan, Meilan and Li, Youwei and Pantelous, Athanasios A. and Vigne, Samuel and Zhang, Dalu, A comparative and conceptual intellectual study of environmental topic in Economic and Finance (August 14, 2022). International Review of Financial Analysis, Volume 91, 103023, January 2024, DOI: 10.1016/j.irfa.2023.103023, Available at SSRN: https://ssrn.com/abstract=4189912 or http://dx.doi.org/10.2139/ssrn.4189912

Meilan Yan

Loughborough University ( email )

Ashby Road
Nottingham NG1 4BU
Great Britain

Youwei Li (Contact Author)

Hull University Business School ( email )

University of Hull
Hull, HU6 7RX
United Kingdom

Athanasios A. Pantelous

Monash University - Department of Econometrics & Business Statistics ( email )

Wellington Road
Clayton, Victoria 3168
Australia

Samuel Vigne

Trinity College (Dublin) - Trinity Business School ( email )

Aras an Phiarsaigh
College Green
Dublin, Leinster D2
Ireland

Dalu Zhang

University of Salford - Salford Business School ( email )

Salford, Greater Manchester M5 4WT
United Kingdom

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