Resumo

Corporate Social Responsibility - CSR began to take hold in the U.S. in the 1970s, when the concept of the “social contract” between business and society was declared by the Committee for Economic Development in 1971. Since then, CSR has played a crucial role in a company's brand perception; attractiveness to customers, employees, and investors; talent retention; and overall business success. In 2017, 140 CEOs signed The Compact for Responsive and Responsible Leadership at the World Economic Forum (WEF) meeting in Davos, Switzerland. This could be considered the establishment of ESG practices.

This article uses domain-based analysis and its scoping involves the formulation of research questions that provide an underline plan, logical context, aim, and base for operationalizing CSR and ESG. According to Garcia and colleagues (2017), ESG and CSR are two terms that can be used interchangeably. So, the key research questions for this research are: RQ1. How has the field of CSR evolved in the last six years? RQ2. What are the most significant contributions, journals, and keywords, and who are the most influential authors, in the fields of CSR? RQ3. Is ESG the new CSR approach?

Companies are carrying out actions in these areas as disclosure of ESG practices and CSR is becoming increasingly important. Not only do businesses have to respect the environment or improve current social conditions, but they also must convey this to stakeholders. Unlike financial issues, there is no clear regulation of Non-Financial Information - NFI like CSR or ESG reports governing aspects such as the rules they must follow, whether they should be assured, content which should be included. Researchers proposed disclosure guidelines and conduct studies on the topic due to its relevance.

Bibliometric analysis of 166 relevant articles published between 2017 and 2022 in journals included in the Web of Science database, considering conceptual and intellectual structures, trends, and possible paths for the field of CSR. The retrieved articles were selected based on the key terms present in the title, abstract, and keywords related to each publication that has been cited at least ten times per year.

The Governance aspect of ESG is taking place in CSR research in 2022. The top journal in the number of relevant articles published is the Journal of Business Ethics reflecting the interest in Governance issues of companies, public sector and countries. It is observed that business orientation was converted to pay (taxes, cost of debt etc); part of the old ‘risk’ was mutated manly to earning (revenues). Also, it presents gaps for future research and new trends in CSR/ESG field as: Governance (board); Risk; Climate Change; Shareholder Value; Pay; Disclosure Evidence; and Investments.

The study highlights the significance of CSR to strategic management in terms of the responsibility of organizations to promote sustainable development and by providing new opportunities to uncover unexplored topics in this field. Diverse studies investigate the CSR/ESG performance and effect of its disclosure in various aspects and contexts (nations, NGOs, public or private organizations), but there is no consensus on what motivates organizations to participate in the Agenda for Sustainable Development. So, a theoretical framework for the integration of CSR/ESG is still lacking.

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