A PRISMA‐Based Systematic Review on Economic, Social, and Governance Practices: Insights and Research Agenda

ABSTRACT The article synthesizes existing research on economic, social, and governance (ESG) practices and explores their impact on corporate sustainability and financial outcomes. A systematic literature review (SLR) followed PRISMA guidelines, analyzing 85 peer‐reviewed articles from high‐quality journals indexed in Scopus. The results reveal that robust governance mechanisms—such as board diversity, strategic integration of ESG criteria, and effective risk management—are key drivers of enhanced ESG performance and corporate profitability. However, the findings also highlight significant gaps in current knowledge, particularly regarding emerging concepts like green innovation, ESG controversies, and digital transformation. The study concludes that further research is needed to develop a more nuanced understanding of how different governance structures and ESG practices interact and to provide clearer guidance for policymakers and corporate managers in fostering sustainable business practices.