Bibliometric insights into corporate governance and ESG controversies: trends, theories and future directions

Abstract

Purpose This study aims to present a bibliometric review of the relationship between corporate governance and environmental, social and governance (ESG) controversies in the literature. It maps publication trends, theoretical frameworks and key research clusters and identifies key contributors to this field. This study offers valuable insights into the relationship between governance practices and ESG risks, providing directions for future research to enhance corporate sustainability and manage ESG risks effectively. Design/methodology/approach This bibliometric analysis is based on 44 articles indexed in Scopus and Web of Science, published between 2020 and May 31, 2025. VOSviewer was used to visualize publication trends, thematic clusters, theoretical frameworks and influential authors, institutions and journals. Findings This review identifies five major research clusters: board gender diversity, firm performance, sustainability, ESG and sustainable development. Gender diversity on boards is a key factor in mitigating ESG controversies, with agency, stakeholder and legitimacy theories providing theoretical frameworks. The literature increasingly emphasizes the role of corporate governance in enhancing ESG transparency and mitigating ESG controversies, particularly in the USA and Europe. Research limitations/implications The sample is limited to 44 articles, which may affect the generalizability of the findings across the broader corporate governance literature. Nonetheless, the findings provide actionable insights into corporate governance reforms for managing ESG risks. Practical implications The findings highlight the need for firms to strengthen governance structures, particularly board diversity and leadership oversight, to address ESG controversies effectively. Policymakers can leverage these insights to design governance regulations that foster corporate transparency and sustainable practices. Social implications By demonstrating how effective governance reduces ESG controversies, the study provides insights that can support responsible corporate behavior, enhance stakeholder trust and contribute to more sustainable and equitable development outcomes. Originality/value This is the first bibliometric review to synthesize research on the relationship between corporate governance and ESG controversies. It identifies emerging trends, highlights research gaps and suggests future directions for corporate governance mechanisms, digital integration and cross-sectoral research.