Systematizing ESG Knowledge: A Bibliometric and Theoretical Review Using SPAR ‐4‐ SLR and TCCM Framework

Despite the rapid growth of ESG research, the field remains fragmented across theoretical, methodological and contextual dimensions, limiting the development of a coherent body of knowledge and actionable guidance for stakeholders. This study addresses this gap by synthesizing 1034 peer‐reviewed articles from 255 journals published between 2010 and 2025 using SPAR‐4‐SLR, bibliometric analysis and the TCCM framework. The analysis identifies five thematic clusters: ESG and firm value, digital transformation, corporate financial performance, sustainability reporting and macroeconomic resilience. It also reveals four major gaps: the lack of unified theory, geographic concentration in China and developed markets, limited attention to mediators and moderators and unresolved endogeneity and measurement issues. Overall, the findings show that ESG has evolved from a normative sustainability concept into a governance and risk management framework. The study proposes a targeted agenda for future research.