Governance Indicators in Sustainable Banking: A Comprehensive Bibliometric Analysis for Enhanced Sustainability

Abstract

This study’s goal is to present a comprehensive bibliometric analysis of governance measures in relation to sustainable banking, with a focus on the development of themes over time, interdisciplinary approaches, and the contribution of various regions of the world to this field. A bibliometric assessment was performed based on the analysis of trends, geographic contributions, and thematic clustering to assess the intellectual structure and research advancement of governance indicators in sustainable banking. Key areas of focus in the analysis included leading figures and institutions in the field and key publications and issues in their works. The synthesis suggests the significance of the “governance approach”, which emerged as one of the key areas connecting practices of sustainability, economic growth, and institutions. It is emphasized that, after 2010, the emphasis of research shifted from corporate governance to more comprehensive, ‘sustainable development’ models with emphasis on environmental, social, and governance (ESG) parameters within banking systems. The international aspect of research, which largely involves American, Chinese, and Indian scholars, demonstrates the integrative and varied nature of scholarly activity, while the focus of developing countries is on regional policy adaptation. This study contributes to a better understanding of the context and the complexity of the roles played by governance indicators in regard to sustainable banking. It emphasizes the need to integrate operational frameworks and criteria measures to assess governance control and reach suitable outcomes. On the one hand, it explores the scope, and on the other, it supports further research and thus enriches further the development of sustainable governance practices within the banking sector and its related fields.

1. Introduction

The governance indicators that matter for sustainable banking are the rule of law, regulatory quality, government effectiveness, the control of corruption, and political stability. These are key inputs for sustainable banking methodologies. These indicators provide a framework with which to evaluate the impact of institutional set-ups and governance frameworks on financial systems and their alignment with broader sustainability goals. In addition, governance indicators are benchmarks that measure the use of financial resources by countries and banks, and their access to them. The World Bank regularly assesses these indicators because these indicators are important for sustainable banking. Moreover, as sustainable banking gains importance globally, the integration of governance principles with ESG is becoming one of the key focus areas for researchers and practitioners. Therefore, it is necessary to investigate the relationship between governance indicators and sustainable banking. Sustainable banking is increasingly becoming one of the highly debated issues in the global discourse on sustainability, and there is increasing ESG adoption within financial systems, including banking. The convergence of banking practices with sustainability goals is a great opportunity to address global challenges such as climate change, responsible financial behavior, and socio-economic inclusion. Moreover, governance indicators like corporate quality, regulatory effectiveness, and stakeholder engagement become factors in determining the effectiveness and sustainability of banking operations. This paramount relevance has heightened the interest of researchers in this field, leading to a growing body of academic research. This study was carried out to explore this interest and fill the gaps that exist in this area.

While the growing body of research emphasizes the importance of governance in driving sustainable banking practices, gaps remain in understanding how governance indicators are conceptualized, applied, and measured in different regions and contexts. Moreover, research on how governance frameworks align with broader sustainability goals, such as stakeholder engagement, is limited. Our study aims to address these gaps by analyzing the academic landscape of governance indicators in the context of sustainable banking, mapping the field’s evolution, identifying thematic trends, and highlighting opportunities for future research.

The key questions guiding this research are as follows:

• What are the key governance themes and concepts discussed in the sustainable banking literature, and how have they evolved over time?
• Who are the main contributors (authors, journals, and institutions) to research on governance indicators, and how do their contributions shape the field?
• What critical knowledge gaps and emerging opportunities to advance research on governance in sustainable banking exist?

To answer these questions, this study uses bibliometric analysis methods to systematically examine the development of research on governance indicators in sustainable banking from 1975 to 2025. This study provides a comprehensive understanding of the field by using techniques such as co-authorship mapping, thematic clustering, and geographical distribution analysis. The findings are expected to highlight key trends, interdisciplinary connections, and areas requiring deeper exploration, contributing to future research, applications, and policy-making processes.

Motivation for the Study

The motivation for this study stems from the growing recognition of the critical role governance indicators play in sustainable banking. While existing reviews have provided insights into the adoption of governance frameworks and ESG criteria, there remains a gap in understanding the evolution of these themes over time, their interdisciplinary connections, and their global dissemination. Unlike prior studies, this research employs comprehensive bibliometric analysis, allowing for a macroscopic view of the intellectual structure and thematic trends in the field.

Furthermore, the increasing integration of ESG criteria within banking systems, coupled with global challenges such as climate change and socio-economic inclusiveness, necessitates a deeper exploration of governance indicators. This study seeks to address these needs by mapping the academic landscape, identifying key contributors, and highlighting opportunities for future research. By focusing on the bibliometric analysis of governance indicators, this research not only fills existing gaps but also paves the way for advancing sustainable governance practices in banking.

Indicating the necessity of this study, previous research has emphasized the transformative potential of governance in achieving sustainability objectives. For instance, studies have demonstrated the alignment between strong governance frameworks and improved financial performance, stakeholder trust, and environmental impact [1,2]. By building on these findings and addressing unexamined aspects, this study contributes a unique perspective to the ongoing discourse.

The article is structured as follows: The first section discusses the research context, objectives, and questions. The second section explores the theoretical foundations of governance and its role in sustainable banking. The third section outlines the bibliometric methods applied in the study and presents descriptive statistics. The fourth section presents the results. In the fifth section, the results are discussed in relation to governance indicators and their place within the sustainable banking discourse and literature. The final section identifies future research areas, provides practical recommendations, summarizes the main findings of the study, addresses its limitations, and offers actionable insights for advancing governance research in sustainable banking.

2. Literature Review

The concept of governance indicators is used in the sustainable banking [3] literature. These indicators are generally defined as the rule of law, regulatory quality, government effectiveness, the control of corruption, and political stability [4]. These elements are recognized as playing important roles in shaping sustainability goals in banking practices and the long-term success of financial systems. In particular, organizations such as the World Bank regularly assess these indicators [5,6] and use them to develop policies on sustainable banking. Because banks play an important role in ensuring the economic stability of countries [7,8], the efficiency and size of banks in a country is also an indicator of the size of the financial system [9]. The banking sector also affects the development and stability of the country’s economy [10,11]. Banks contribute to the development of both national and international trade [12,13]. Thus, they contribute to the national economy and the globalization process by performing intermediary transactions for import–export companies [14], especially letter-of-credit and foreign exchange transactions in international trade [15]. Therefore, the sustainability of banking contributes to developing countries and societies by positively affecting these activities [16].

Sustainability [17,18,19,20] is a broad concept that can be applied in many different areas [21]. Its integration into and exploration within the banking industry has gained notable momentum in recent times, especially when combined with technological progress. This follows the need for environmental, social, and governance, or ESG [22,23,24], factors to be integrated into financing structures. The research in this field underlines the role of governance practices and metrics that are necessary for the banking sector to achieve sustainability goals [25]. Governance principles are hence established as one of the most crucial elements for the effectiveness and sustainability of financial systems [26]. In addition, it is noted that this status works to balance the relationship between economic development, social welfare, and environmental balance [27].

An important strand in the literature relates to how governance indicators align with broader sustainability objectives [27,28], including stakeholder engagement and organizational excellence [29]. Several studies show that, together with the efforts of banks toward the fulfillment of their environmental and social responsibilities, governance structures can substantially contribute to improving operational effectiveness [30,31,32]. Increasing stakeholder engagement could, therefore, be an integral factor in the effective implementation of sustainable banking practices [33]. The academic literature investigating the relationship between sustainable banking and relevant governance indicators holds considerable promise for addressing global challenges such as climate change, responsible finance, and socio-economic inclusion [34]. Corporate governance, along with regulatory quality and stakeholder engagement, not only determines the financial performance of banks but also their impact on environmental and social parameters [35]. As there is such a dearth of research investigating the relationship between governance and sustainable banking, it is clear that much more needs to be explored in this area [36]. Such studies could bring to light the possibility of the improved incorporation of ESG criteria within the financial sector and the implementation of good governance principles along the way. In addition, the question of how merging governance indicators and sustainable banking might affect financial crises and market instability is another significant research area [37]. These findings are based on comprehensive research and analysis in the existing literature. There are various analytic approaches to conducting such studies. Biometric analysis [37], the focus of our study, is among these methods.

2.1. Bibliometric Analysis

Bibliometric analysis is one of the better methods to understand how a discipline has evolved by performing quantitative and qualitative analyses of the publications in a given domain of research [38,39]. This helps in the identification of important authors, key publications, related journals, and countries and institutions that have contributed to the research field [40]. It also outlines the main themes and trends in the literature, pointing out the topics that receive more attention and those areas that could be explored further [41]. This study conducts a bibliometric analysis of research output on sustainable banking and governance indicators. Therefore, this analysis exposes significant themes, subjects, and methodological trends in the area of governance indicators and sustainable banking. Bibliometric analysis also uses techniques such as author mapping, thematic clustering, geographic distribution analysis, and citation analyses to examine developments in the literature [42,43]. These methodologies reveal the authors, journals, and countries contributing most to the field and the stages at which research is mainly concentrated. This study analyses these indicators in relation to governance indicators and sustainable banking.

Drawing on the literature on good governance, it is important to emphasize the critical role of governance quality at the national level in influencing corporate social performance (CSP) [43]. One longitudinal study reveals that governance dimensions, such as voice and accountability, regulatory quality, the rule of law, and the control of corruption, significantly enhance CSP across various model specifications. These findings highlight the interplay between national governance frameworks and sustainable corporate behavior, underscoring governance quality as a fundamental driver of sustainability transitions. Complementing this perspective, one study investigates the administrative dimensions of sustainability transitions, using China’s electric vehicle (EV) policy mix as a case study [44]. The authors’ social network analysis uncovers the emergence of a complex network of governing entities, including key actors coordinating resources and newer entrants responding to socio-technical changes. This study underscores the dynamic evolution of governance structures and highlights the necessity for deliberate administrative strategies to accelerate sustainability transitions. Together, these seminal works provide a nuanced understanding of how governance frameworks at both national and sectoral levels contribute to sustainability goals, offering valuable insights for sustainable banking and ESG integration.

Further aligning with the bibliometric nature of this study, the review highlights prior research that employed bibliometric methods to explore sustainable finance and governance [45]. One group of authors conducted a bibliometric performance analysis of 377 publications to map the evolving landscape of sustainable finance research, identifying the United Kingdom, China, and the United States as leading hubs of research excellence. Their study underscores the role of sustainable and green banks in driving sustainability transitions while highlighting research gaps in the field, particularly in understanding the interplay between sustainability performance and profitability. Similarly, [46] performed a comprehensive bibliometric analysis using data from Scopus and Dimensions.ai, tracking the shift in research focus from social components (2012–2016) to environmental and climate change considerations (2016–2020) and the contemporary emphasis on green finance and renewable energy. These studies validate the utility of bibliometric methods in mapping trends, identifying influential works, and offering critical insights into the conceptual evolution of sustainable finance, providing a robust methodological foundation for examining governance indicators in sustainable banking.

2.2. Governance Metrics in Sustainable Banking

The research on sustainable banking has developed significantly over the years. Regarding prominent authors and institutions in the body of literature examining the influence of governance indicators on sustainable banking [47,48], there are quite a few authors and research entities that stand out. International organizations such as the World Bank and the IMF provide significant funding for research on sustainable banking practices. These practices are particularly prevalent in the areas of sustainable finance, corporate governance, and bank management. When we analyze geographical distributions, studies on sustainable banking and governance indicators are concentrated in regions such as Europe, North America, and Asia. Studies conducted in developed economies in these regions emphasize the impact of a strong regulatory framework and governance principles.

When the themes and trends are analyzed in the literature, ESG integration comes to the forefront. There is a growing trend in terms of how governance indicators can be integrated with environmental and social responsibilities. This is particularly evident in studies on incorporating environmental risks and social inequalities into decision-making processes in the banking sector. Secondly, regulation and the rule of law are noteworthy. The rule of law and regulatory quality stands out as important factors in sustainable banking. Some studies show that effective regulations are critical in helping banks to achieve their sustainability goals [49]. The third emphasis is stakeholder engagement and corporate governance [50,51,52]. Along with the responsibility of banks to manage their environmental and social impacts, there is an emphasis on the need for the effective implementation of governance principles.

More research is needed on the different practices of sustainable banking in developed and developing countries. There is a lack of research on geographical differences in regulatory frameworks and implementation challenges, especially in emerging economies. This study provides a picture of these differences in its analyses. In addition, this study paves the way for an in-depth examination of ESG integration. It reveals thematic and conceptual relationships related to the integration of ESG criteria into the banking sector and the impact of this integration on bank performance.

3. Methodology

3.1. Bibliometric Techniques Employed

The bibliometric analysis in this study was conducted by using a systematic approach to select and analyze the relevant literature. The selection process was based on predefined search criteria, which were designed to capture the most influential and relevant works in the fields of governance indicators and sustainable banking. These criteria included the following:

Database selection: Web of Science and Scopus were chosen due to their extensive indexing of high-quality, peer-reviewed literature and their robust citation-tracking capabilities.

Search query: A comprehensive search query was developed using keywords such as “governance indicators”, “sustainable banking”, “corporate governance”, and “ESG frameworks.” Variations and synonyms of these terms were also included to ensure broad coverage.

Inclusion criteria: articles were included if they met the following criteria:

○

Published in peer-reviewed journals.

○

Focused on governance indicators, sustainable finance, or related themes.

○

Published between 1975 and 2025 (this criterion was used in order to capture historical and recent trends).

Exclusion criteria: we excluded non-academic sources, articles lacking full-text availability, and publications outside the scope of governance and sustainability.

Using these criteria, a dataset of 1725 articles was curated and analyzed. The bibliometric methods employed included co-authorship mapping, keyword co-occurrence analysis, thematic clustering, and citation analysis. These techniques provided a structured approach to uncover research trends, key contributors, and thematic developments in the field. The basis for selecting the corresponding literature ensured that the analysis was comprehensive and representative of the field’s intellectual structure. This methodological rigor supported the validity and reliability of the findings. This study employed a bibliometric analysis to explore the academic literature on governance indicators in sustainable banking. The analysis aimed to identify research trends, key topics, influential publications, and collaborative patterns. The methodological steps are detailed as follows:

3.2. Data Collection and Source Selection

The bibliographic data were extracted from Web of Science/Scopus using a predefined search query, combining terms related to “governance indicators” and “sustainable banking”. The search strategy included variations of relevant keywords such as “sustainable banking”, “measures of institutional quality”, “governance indicators”, and “corporate governance”. The initial query considered all document types (e.g., articles, reviews, books, and conference proceedings) and imposed no language restrictions. The data retrieval was conducted in November 2024, ensuring that the dataset captured the most up-to-date scholarship available at that time.

This study relied on the Web of Science and Scopus databases for bibliometric analysis due to their comprehensive coverage and established credibility in academic research. These databases are widely recognized for their extensive indexing of high-quality, peer-reviewed literature across various disciplines, including sustainability and governance. Their robust citation-tracking and analytical tools enable a detailed exploration of publication trends, collaboration networks, and thematic developments. The selection of these databases ensures the reliability and breadth of the bibliometric data, providing a solid foundation for this study.

3.3. Data Cleaning and Preparation

After downloading the raw data in a compatible format (e.g., BibTeX, CSV), the dataset was imported into the R environment. The bibliometrix R package Version: 4.3.0 [53] was utilized for data cleaning, standardization, and analysis. Duplicates were removed, author names were standardized (to reduce fragmentation due to variations in spelling or initials), and documents without sufficient bibliographic information were excluded.

3.4. Descriptive Analysis

Comprehensive descriptive analysis was conducted to understand the basic characteristics of the collected documents. Key indicators included the time span covered by the publications, the number and types of sources, the annual growth rate of publications, the average citations per document, and author collaboration patterns. Basic statistics on keywords, authorship, and document types were generated using the bibliometrix functions.

3.5. Bibliometric Techniques Employed Results

The analysis employed standard bibliometric methods, including production indicators (e.g., annual publication trends, most prolific authors), collaboration indicators (co-authorship networks and international collaborations), and content indicators (most frequent keywords and thematic areas). These techniques provided a macroscopic overview of the research field’s evolution and intellectual structure.

Table 1. Descriptive statistics of the bibliometric dataset.

Description	Results
MAIN INFORMATION ABOUT DATA
Timespan	1977–2025
Sources (journals, books, etc.)	959
Documents	1725
Annual growth rate (%)	0
Document average age (years)	5.05
Average citations per document	17.27
References	0
DOCUMENT CONTENTS
Keywords Plus (ID)	2865
Author’s Keywords (DE)	3904
AUTHORS
Authors	4112
Authors of single-authored docs	344
AUTHOR COLLABORATION
Single-authored docs	378
Co-authors per document	2.73
International co-authorship (%)	27.71
DOCUMENT TYPES
Article	1417
Short Communication	1
Book	14
Book chapter	136
Conference paper	76
Conference review	4
Data paper	3
Editorial	5
Erratum	2
Letter	2
Note	4
Retracted	1
Review	59
Short survey	1

presents a comprehensive overview of the bibliometric dataset employed in this study, highlighting the fundamental characteristics of the collected scholarly outputs on governance indicators in sustainable banking. Spanning the period from 1977 to 2025, the dataset encompasses 1725 documents sourced from 959 distinct publication outlets, signifying both the longevity and breadth of the research domain. Notably, the average age of the documents is approximately five years, suggesting a relatively contemporary focus, while the mean citation rate of 17.27 per document indicates moderate to strong scholarly impact. Despite the absence of references reported at the dataset level, the rich assemblage of 2865 Keywords Plus and 3904 Author’s Keywords emphasizes the conceptual diversity within this field. The dataset further reflects an extensive authorship base of 4112 contributors, with 344 single-authored works. Collaboration indicators reveal a balanced co-authoring environment with an average of 2.73 co-authors per document and a notable 27.71% rate of international co-authorship. Regarding publication types, 1417 of the entries are classified as journal articles. These are supplemented by various other formats such as books, book chapters, conference papers, and reviews, underscoring the multidisciplinary and multifaceted nature of the discourse around governance indicators in sustainable banking.

4. Results

4.1. Annual Scientific Production

Figure 1 illustrates the evolving trajectory of academic output related to governance indicators in sustainable banking over the period of 1977–2025. In the initial decades, scholarly production was sporadic and minimal, indicating that there was limited research attention paid to and engagement with the field. However, from approximately the mid-2000s onward, there has been a marked escalation in the number of publications. This upward trend intensified after 2010, reflecting a growing academic and industry focus on sustainability, environmental, social, and governance (ESG) criteria and responsible banking practices. The pronounced surge in publication volume suggests that the topic has shifted from a niche interest to a core component of contemporary scholarly discourse. The apparent decline in the final observed year was potentially due to incomplete indexing or ongoing data collection rather than an actual downturn in research activity. Overall, the figure underscores the field’s rapid expansion and the increasing importance of governance indicators in shaping sustainable banking practices.

4.2. Citation Patterns and Impact

Table 2. Yearly Citation Statistics.

Year	MeanTCperArt	N	MeanTCperYear	CitableYears
1977	91.00	1	1.90	48
1994	8.00	1	0.26	31
1996	60.00	2	2.07	29
1999	25.00	6	0.96	26
2001	35.00	1	1.46	24
2002	7.00	1	0.30	23
2003	64.40	5	2.93	22
2004	319.00	2	15.19	21
2005	159.17	6	7.96	20
2006	11.50	8	0.61	19
2007	47.60	10	2.64	18
2008	58.31	16	3.43	17
2009	24.20	40	1.51	16
2010	56.26	35	3.75	15
2011	70.70	40	5.05	14
2012	28.20	44	2.17	13
2013	24.08	53	2.01	12
2014	23.40	57	2.13	11
2015	25.00	77	2.50	10
2016	29.61	57	3.29	9
2017	15.16	63	1.90	8
2018	18.10	77	2.59	7
2019	14.77	102	2.46	6
2020	22.08	135	4.42	5
2021	12.11	176	3.03	4
2022	10.80	196	3.60	3
2023	5.37	238	2.68	2
2024	1.34	275	1.34	1

Note: MeanTCperArt = mean total citations per article; N = number of documents; MeanTCperYear = mean citations per year since publication; CitableYears = years since publication.

provides a more granular perspective on the patterns observed in the temporal distribution of citations, offering insights into yearly citation metrics. For earlier publication years, such as 1977, although only a single document was recorded, it has accrued a high mean total citation count (91) over nearly half a century, resulting in a steady average citation per year (1.9) due to its extensive citable lifespan. The spike observed in the mid-2000s is particularly evident when examining the 2004 and 2005 cohorts: despite a relatively small number of documents (2 in 2004 and 6 in 2005), their mean total citations per article (319 and 159.17, respectively) and corresponding mean citations per year (15.19 and 7.96) indicate that a few highly influential publications dominated the scholarly landscape during this period. In subsequent years, as the volume of publications increased, average citations per article tended to normalize, reflecting a more dispersed citation environment. More recent cohorts (e.g., post-2020) exhibit lower average citations per year, partly due to their shorter citable windows and the natural lag in citation accumulation. Overall, the detailed statistics underscore how both the maturation of the research domain and the passage of time since publication contribute to shifts in average citation patterns.

4.3. Most Relevant Sources

Figure 2 highlights the most relevant publication sources for research on governance indicators in sustainable banking, with the number of documents published by each source represented along the horizontal axis. The chart reveals a notable dominance of the Sustainability journal, which published 51 documents, far exceeding the contributions of other journals. The Journal of the Knowledge Economy and PLoS ONE each contributed 14 documents, while Heliyon and Resources Policy published 13 articles each. A group of journals, including Environment, Development, and Sustainability and World Development, each contributed 11 articles, while others, such as Economic Research-Ekonomska Istraživanja, published 10 documents. This distribution indicates that while Sustainability is a key outlet for scholarship in this field, research is also disseminated across a diverse range of journals, reflecting the multidisciplinary nature of the topic and its relevance across various domains, including economics, policy, and environmental studies. The prominence of these journals suggests their role as central platforms for advancing knowledge in sustainable banking and governance.

4.4. Source Impact

Figure 3 highlights the sources with the highest impact in the field of governance indicators in sustainable banking, measured by the H-index. The H-index represents both the productivity and citation impact of publications from a source. The chart reveals that the journal Sustainability leads with an H-index of 18, underscoring its pivotal role as a highly influential outlet within this research domain. Other prominent sources, including World Development and Corporate Governance: The International Journal of Business in Society, exhibit H-indices of 10 and 8, respectively. Journals such as Economic Research-Ekonomska Istraživanja and the Journal of Cleaner Production also show strong performances with H-indices of 8, reflecting their significant contributions and reach in the literature. Further down, sources such as Environment, Development, and Sustainability and Resources Policy each register H-indices of 6, indicating consistent but relatively lower impacts compared to leading journals. These findings illustrate the central role of a select group of journals in shaping the discourse around sustainable banking and governance, while also highlighting the multidisciplinary nature of the research, which spans journals in areas such as sustainability, economics, and corporate governance.

Figure 4 illustrates the cumulative production of documents over time by key sources that contribute to the research on governance indicators in sustainable banking. The chart highlights the dominant role of Sustainability (Switzerland), which has demonstrated a rapid and substantial increase in cumulative publications since 2015, reflecting its status as a primary outlet for this field. Other sources, including PLoS ONE, Resources Policy, and Heliyon, have shown more gradual growth trajectories, with contributions only becoming notable in recent years. The Journal of the Knowledge Economy also exhibited a steady upward trend, albeit at a slower pace compared to Sustainability (Switzerland). This divergence in growth rates among sources underscores the varying levels of engagement and focus of different journals on sustainable banking research over time. Overall, the figure highlights the accelerating pace of scholarly output in this domain, particularly after 2015, aligning with the broader increase in attention to sustainability and ESG topics in academic and policy circles.

4.5. Author Contributions

Figure 5 identifies the most relevant authors in the field of governance indicators for sustainable banking based on their academic output. The horizontal axis shows the number of papers published by each author, and the vertical axis lists their names. The most prolific author is ARONOFF SA, as indicated in large font, with 15 published works, which is significantly higher than the output of other contributors. Other authors, like LINTS A and IRA, follow with 8 publications each, showing significant contributions to the growth of this research strand. Other major contributors include FOLSCHELL FJ, KOSINSKA A., and ARONOFF B., with each author having 7 publications, showing consistent engagement with the topic. The rest of the authors have 6 or fewer publications, meaning that there is a larger group of researchers contributing to the discussion, indicating variety in terms of very prolific authors and those whose involvement is less widespread. The figure speaks to the collaborative, distributed nature of scholarship in this field. The select few leading researchers assume pivotal roles that shape the intellectual foundation of the domain.

Figure 6 shows the publication output over time of the most active authors in the field of governance indicators on sustainable banking: the vertical axis shows the individual authors, and the horizontal axis shows the timeline of their scientific contributions; the size of the bubble is proportional to the number of articles published in a specific year, while color intensity represents the total citations received in a year. Highly respected scholars, such as ASONGU SA and UYAR A, show continuous contributions over a long period of time, with bubbles of different sizes indicating changes in their annual productivity. Notably, ASONGU SA has several bigger bubbles, which indicate periods of peak productivity. In contrast, authors like FORCADELL FJ and KHAN MA show sporadic contributions, with a few highly influential articles, as shown by high TC values per year.

The figure also highlights recent contributors, such as KARAMAN AS, whose activity started later in the timeline but who shows a high number of citations, meaning there were significant recent contributions. At the same time, the work of KOCMANOVÁ A shows a stable contribution level with a medium citation impact, which demonstrates long-term engagement in the field. In general, the figure provides a comprehensive view of the individual authors’ contributions over time, showing their productivity trends and the citation importance of their scientific work. This representation brings out the dynamic environment of academic participation in research related to sustainable banking, where roles are assumed by both experienced and nascent authors. Based on the chart elements and structure, the red lines represent the duration or active period of publications by each author over time.

Figure 7 showcases the total impact of authors in the field of governance indicators in sustainable banking, as measured by their H-index. The horizontal axis represents the H-index value, while the vertical axis lists the names of the most impactful authors. ASONGU SA leads with the highest H-index of 10, indicating both a prolific output and substantial citation impact. This suggests a strong and consistent influence on the scholarly discourse in this field. Other authors, such as UYAR A and FORCADELL FJ, have H-indices of 7, reflecting significant contributions and engagement with highly cited works. A cluster of authors, including KOCMANOVÁ A, KHAN MA, and others, exhibit an H-index of 5, indicating consistent scholarly engagement but comparatively lower citation impacts than the leading contributors. The distribution of H-indices highlights a core group of authors driving high-impact research, with contributions that resonate across the academic community. At the same time, the field demonstrates a degree of balance, with multiple contributors achieving moderate levels of impact, signifying a collaborative and evolving area of study.

4.6. Institutional Contributions

Figure 8 presents the most relevant affiliations in the field of governance indicators in sustainable banking based on the number of articles published by each institution. The horizontal axis represents the number of articles, while the vertical axis lists the corresponding institutions. GOVERNMENT UNIVERSITY leads as the most productive affiliation, with 33 articles, demonstrating its significant contribution to the field. UNIVERSITY OF BUSINESS AND ECONOMICS and BLACK FOREST UNIVERSITY OF ECONOMIC SCIENCES follow with 27 and 25 articles, respectively, showcasing their active roles in advancing research in this domain. Other prominent affiliations, such as JORDAN UNIVERSITY (21 articles) and UNIVERSITY OF SCIENCE AND TECHNOLOGY (19 articles), also demonstrate notable engagement in the scholarly discourse. Several institutions, including BELGIUM SCHOOL UNIVERSITY and the MIDDLE EAST UNIVERSITY OF BUSINESS STUDIES, contribute between 14 and 18 articles, highlighting a distributed yet impactful research effort across various institutions globally.

4.7. Geographical Analysis

Figure 9 displays the distribution of corresponding authors by country, categorized by the type of collaboration: single-country publications (SCPs) and multiple-country publications (MCPs). The horizontal axis represents the number of documents, while the vertical axis lists the corresponding authors’ countries. The United States of America (USA) emerges as the leading country, with the highest number of documents. These predominantly comprise SCPs and indicate significant domestic research efforts. China and India follow as the next most productive countries, with a balanced mix of SCPs and MCPs, reflecting both strong national research and international collaborations. European countries, including the United Kingdom, Germany, Italy, and Spain, demonstrate high engagement levels of in MCPs, suggesting their active participation in collaborative, cross-border research. Emerging economies like Malaysia, Pakistan, and South Africa also show a growing research footprint, with notable contributions in SCPs. Countries such as Canada, Australia, and Saudi Arabia exhibit a balanced proportion of SCPs and MCPs, while smaller research contributors, such as Indonesia and Tunisia, are primarily engaged in SCPs. This distribution underscores the global nature of research on governance indicators in sustainable banking, highlighting regional strengths and the role of international collaborations in advancing the field.

Figure 10 illustrates the country-level cumulative production of articles over time in the field of governance indicators in sustainable banking. The graph tracks the growth trajectory of the top contributing countries: the USA, China, India, Malaysia, and the United Kingdom. The United States exhibits the highest cumulative output, with a steep increase starting from 2015, reflecting its dominance and continued interest in this domain. China follows closely, showcasing a significant acceleration in article production in the past decade, indicating its growing focus on sustainability and governance research. India, Malaysia, and the United Kingdom also demonstrate steady growth trajectories, with noticeable increases in publication activity after 2010. These countries contribute substantially to the global discourse, reflecting their regional priorities and collaboration in sustainability-related research. Overall, the figure highlights the rapid expansion of academic interest across multiple nations, with notable contributions from both developed and emerging economies. This trend underscores the increasing global relevance of sustainable banking and governance indicators, driven by growing policy and academic interest in sustainability practices.

4.8. Keyword Analysis and Thematic Mapping

Figure 11 presents a word cloud representing the most frequently occurring keywords in the field of governance indicators in sustainable banking. The size of each term reflects its relative frequency and prominence in the dataset. The terms “governance approach” and “sustainable development” appear as the most prominent, indicating their centrality to the research focus. Other significant terms include “economic development”, “sustainability”, “banking”, and “human”, highlighting the multifaceted nature of the discourse, which spans economic, environmental, and social dimensions. Additional keywords such as “institutional framework”, “economic growth”, “decision-making”, and “environmental policy” underscore the analytical and policy-oriented nature of the research. The presence of terms like “climate change”, “corruption”, and “sub-Saharan Africa” further illustrates the global and diverse challenges addressed within this body of work.

Figure 12 illustrates the evolution of trend topics in governance indicators and sustainable banking research over time. Each term is represented on the vertical axis, with the horizontal axis showing the years during which the terms were prominent. The size of the bubbles indicates the frequency of occurrence, with larger bubbles representing more frequent usage. The early years of the dataset (2004–2010) were dominated by foundational topics such as “methodology”, “coral reef”, and “health care delivery”, indicating initial explorations into specialized areas. Post-2010, broader and more impactful terms, such as “sustainable development”, “economic development”, “corporate governance”, and “banking”, gained prominence, reflecting a shift toward comprehensive frameworks and critical sustainability issues. By 2020 and onward, terms like “governance approach”, “economic growth”, “sustainability”, and “institutional framework” were dominant, signifying the increasing focus on integrating sustainability with governance structures. Topics such as “policy”, “macroeconomics”, and “socio-economics” also emerged, highlighting the interdisciplinary nature of recent research efforts. The blue dots in the visualization represent the frequency of specific terms used over the years. Each dot’s size indicates the frequency of the term in a given year, with larger dots representing higher occurrences of that term.

Figure 13 represents a keyword co-occurrence network, highlighting the relationships among frequently used terms in the field of governance indicators and sustainable banking. Each node represents a keyword, and its size corresponds to the frequency of the term’s occurrence. The connections (edges) between nodes reflect the co-occurrence of the keywords within the same documents, and the network is organized into clusters based on thematic similarity. The central term “governance approach” is the largest node, indicating its pivotal role in the research field. It is closely connected to terms like “economic growth”, “sustainable development”, and “institutional framework”, forming the red cluster, which focuses on governance structures and their impacts on sustainability. The green cluster centers around “economic development” and includes terms such as “climate change”, “corruption”, and “environmental policy”, reflecting a focus on socio-economic and environmental issues in developing countries. The blue cluster highlights human-centric terms like “human”, “health care policy”, and “government”, emphasizing public health, gender, and governance as intersecting themes. This visualization reveals the interdisciplinary nature of the research, linking governance, economics, sustainability, and societal issues. The clusters demonstrate how different thematic areas converge to address the broader challenges and opportunities in sustainable banking and governance.

Table 3. Network metrics for key nodes in the keyword co-occurrence network.

Node	Cluster	Betweenness	Closeness	PageRank
Governance approach	1	219.7948108	0.019607843	0.082195011
Sustainable development	1	86.141893	0.018518519	0.045168561
Sustainability	1	21.4185276	0.014925373	0.032129851
Banking	1	6.508856932	0.012658228	0.020785877
Economic growth	1	19.91467659	0.015625	0.031169841
Institutional framework	1	4.531330181	0.01369863	0.022174822
Developing world	1	7.807478403	0.015151515	0.022612434
Europe	1	2.929998877	0.013513514	0.017567261
Decision-making	1	4.13631637	0.0125	0.014529794
Regression analysis	1	5.258560619	0.013157895	0.014462987

Cluster: all nodes belong to Cluster 1, indicating their thematic connection. Betweenness: This measures the extent to which a node acts as a bridge in the network. “Governance approach” has the highest betweenness, indicating its central role in connecting different terms. Closeness: Indicates how close a node is to all other nodes in the network. “Governance approach” also has the highest closeness, reflecting its accessibility within the network. PageRank: Reflects the influence or importance of a node in the network. “Governance approach” has the highest PageRank, further confirming its dominance in the research focus.

highlights the centrality and importance of key terms in the keyword co-occurrence network within the field of governance indicators in sustainable banking. The term “governance approach” stands out as the most pivotal node, with the highest values seen for betweenness (219.79), closeness (0.0196), and PageRank (0.0822). These metrics indicate that it serves as the primary bridge connecting different subtopics, is easily accessible from other nodes, and holds the most influence in the network, making it the thematic anchor of the research field. “Sustainable development” is the second most influential term, with high betweenness (86.14) and notable PageRank (0.0452) values, reflecting its role as another critical connector and foundational concept within the network. Other significant terms, such as “sustainability” and “economic growth”, exhibit moderate betweenness and PageRank scores, emphasizing their importance as secondary connectors that contribute to the broader discourse. Terms like “banking”, “institutional framework”, and “developing world” have lower betweenness values, suggesting that while they are part of the central thematic cluster, they play supporting rather than bridging roles. “Developing world”, however, demonstrates slightly higher connectivity (betweenness: 7.81) than “institutional framework” (4.53), underscoring its relevance in linking global and regional sustainability challenges. Finally, more specialized terms such as “decision-making” and “regression analysis” exhibit lower metrics across all dimensions, indicating they occupy niche positions within the network, contributing depth and specificity to the broader thematic areas. Overall, the metrics in Table 3 reveal a balanced network structure, where broad interdisciplinary terms like “governance approach” and “sustainable development” dominate, while other terms provide contextual and specialized insights, reflecting the interconnected and multidimensional nature of research in this field.

4.9. Dimensional Analysis

The parameters in

Table 4. Analysis parameters.

Parameter	Value
Field	ID
Ngrams	1
Method	MCA
MinDegree	18
Clust	1
K.max	8
Stemming	FALSE
Labelsize	5
Documents	5
Graph	FALSE

outline the methodological set-up for the multiple correspondence analysis (MCA), which forms the basis of the thematic mapping shown in Figure 14. The use of MCA enables the exploration of relationships among categorical variables, specifically keywords, to understand their interconnections in a multidimensional space. The analysis focuses on terms with a minimum degree of 18 connections, ensuring that only the most frequently connected and thematically significant terms are included. By concentrating on Cluster 1, which represents the dominant thematic group, the analysis emphasizes the most relevant topics in the dataset. Additional parameters, such as disabling stemming and optimizing label sizes, enhance the clarity and precision of the visualization, ensuring that key insights are easily interpretable.

Table 5. Dimensional coordinates of key terms.

Word	Dim1	Dim2	Cluster
Governance approach	−0.26	−0.55	1
Sustainable development	−0.17	0.94	1
Sustainability	−0.49	1.31	1
Economic development	0.33	−0.77	1
Human	2.31	0.04	1
Government	2.03	−0.13	1
Article	2.26	0.01	1
Banking	−0.57	1.46	1
Economic growth	−0.41	−1.16	1
Humans	2.50	0.05	1
Institutional framework	−0.59	−0.74	1
Corruption	0.24	−0.84	1
Developing world	−0.16	−0.73	1
Europe	−0.08	−0.45	1
Decision-making	−0.36	0.89	1
Female	3.12	0.16	1
World bank	0.28	−0.66	1
Regression analysis	−0.45	−0.34	1
Africa	0.27	−0.80	1
China	−0.03	−0.10	1

provides the dimensional positions of key terms along two axes (Dim1 and Dim2), offering insight into their thematic roles and relationships. The central term, “governance approach”, is positioned near the origin (Dim1: −0.26, Dim2: −0.55), highlighting its pivotal role in connecting various themes across dimensions of governance, sustainability, and economics. Human-centric terms like “human”, “humans”, “female”, and “article” are positioned on the positive side of Dim1, reflecting a strong focus on social and gender-related research. The prominence of “female” (Dim1: 3.12, Dim2: 0.16) underscores the growing attention paid to gender equity in governance practices. Sustainability-related terms, such as “sustainable development” and “decision-making”, appear in the upper-left quadrant, indicating their critical role in shaping governance frameworks and sustainable practices. Economic and policy-oriented terms, including “economic development”, “institutional framework”, and “corruption”, are clustered in the lower-left quadrant, signifying their focus on structural and policy challenges, particularly in developing regions. Meanwhile, terms like “banking” and “sustainability” occupy the upper-left quadrant, emphasizing the integration of financial systems with sustainability goals. Regional terms, such as “Europe”, “Africa”, and “China”, further demonstrate the global scope of governance-related research. Overall, the parameters in Table 4 ensure robust and focused analysis, while the dimensional coordinates in Table 5 reveal the thematic breadth and interconnectedness of key terms. The results emphasize the centrality of a “governance approach” as a foundational theme, while highlighting the interdisciplinary nature of the field, with contributions spanning human-centered, economic, policy, and sustainability-related research areas. This analysis provides a comprehensive understanding of the multidimensional nature of governance indicators and sustainable banking research.

Figure 14 provides a two-dimensional representation of the thematic relationships among keywords in governance indicators and sustainable banking research, derived from multiple correspondence analysis (MCA). The plot helps to identify the positions and relative importance of terms based on their distribution along two dimensions (Dim1 and Dim2).

4.10. Thematic Clusters with Top Articles

4.10.1. Governance Approach (Central Theme)

This cluster underscores the pivotal role of governance in connecting policy, finance, and sustainability. Key articles include the following:

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Kaufmann et al. (2011): this article examines the impact of governance quality on corporate social performance.

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Lokuwaduge and Heenetigala (2017): this article discusses ESG integration within governance frameworks.

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Singh et al. (2023): this article highlights green banking and macroprudential regulations in sustainability transitions.

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Ayaz (2023): this article maps the bibliometric evolution of sustainable finance research.

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Bouma et al. (2017): this article explores the greening of finance through governance.

4.10.2. Human-Centric Themes

This cluster focuses on gender, inclusivity, and equity in governance. Key articles include the following:

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Song et al. (2020): this article investigates governance networks in China’s EV policy mix.

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Giovannoni and Fabietti (2013): this article discusses inclusivity in corporate governance practices.

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Doni and Johannsdottir (2020): this article explores ESG ratings and their implications for inclusivity.

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Ayaz (2023): this article highlights shifts toward social and environmental governance in finance.

4.10.3. Sustainability and Decision-Making Focus

Articles in this cluster examine sustainable development and decision-making processes. Key articles include the following:

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Thiele (2024): this article explores sustainability decision frameworks.

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Sun et al. (2024): this article discusses governance’s role in achieving sustainability goals.

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Ayaz (2023): this article identifies trends in green finance and renewable energy.

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Lokuwaduge and Heenetigala (2017): this article focuses on governance’s influence on sustainability outcomes.

4.10.4. Economic and Policy-Oriented Themes

This cluster highlights corruption, economic growth, and governance challenges. Key articles include the following:

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Kaufmann et al. (2011): this article analyzes governance metrics at the national level.

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Zupic and Čater (2015): this article maps trends in the governance literature using bibliometric techniques.

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Singh et al. (2023): this article examines macroprudential regulations and governance.

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Ayaz (2023): this article explores policy-oriented shifts in green finance research.

4.10.5. Regional and Contextual Relevance

The articles included here focus on global and regional studies. Key articles include the following:

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Song et al. (2020): this analyzes the role of governance networks in China’s sustainability transition.

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Giovannoni and Fabietti (2013): this article discusses the role of governance in regional contexts.

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Ayaz (2023): this article highlights regional differences in sustainable finance research.

4.10.6. Specialized Financial Topics

This cluster explores corporate governance, banking, and financial systems. Key articles include the following:

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Bouma et al. (2017): this article discusses sustainability practices in finance.

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Lokuwaduge and Heenetigala (2017): this article explores the alignment of banking with ESG frameworks.

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Ayaz (2023): this article focuses on corporate strategies in green finance.

Dim1 (horizontal axis): this dimension seems to capture the transition from human/social themes (right side, e.g., “human”, “female”) to governance- and policy-oriented topics (left side, e.g., “economic development”, “governance approach”). Dim2 (vertical axis): This dimension reflects the emphasis on sustainability and decision-making (upper side, e.g., “sustainability”, “banking”) versus economic and institutional topics (lower side, e.g., “economic growth”, “institutional framework”). Figure 14 highlights the interconnectedness of diverse research themes in governance indicators and sustainable banking. The central position of “governance approach” reinforces its foundational role, while clusters around sustainability, human-centric research, and economic development reflect the field’s multifaceted and interdisciplinary nature. The distribution of terms illustrates how governance is examined through various lenses, including those of policy, finance, sustainability, and social equity. This visual representation effectively captures the evolving priorities and diversity within the research domain.

Despite significant advancements in the field, several challenges persist, highlighting areas that require further attention. One major issue is the lack of standardized measures for evaluating governance indicators, which hinders cross-comparison and benchmarking across different studies and regions. The development of unified frameworks that can be adapted to both global and regional contexts remains a pressing need. These frameworks must account for cultural, institutional, and policy differences to effectively address sustainability challenges on a broader scale. Furthermore, the integration of advanced technologies, such as artificial intelligence, blockchain, and big data analytics, presents untapped opportunities to enhance governance efficacy. These technologies could enable real-time monitoring, improved decision-making processes, and greater transparency in governance systems. However, their implementation poses challenges, including technological accessibility, data privacy concerns, and the need to build capacity in underrepresented regions. Addressing these gaps will be crucial in advancing governance practices and realizing their full potential in promoting sustainable banking.

5. Discussion

This bibliometric analysis shows important details about the research field of governance indicators in sustainable banking, highlighting how it is multidisciplinary and always changing. This section situates the results within contemporary literature to elucidate their importance and possible ramifications.

The interdisciplinary character of governance metrics in sustainable banking is discussed. The findings reveal the convergence of topics concerning governance structures, sustainability practices, and economic development, with “governance approach” serving as the primary thematic focal point. This corresponds with recent research highlighting the essential function of governance in attaining sustainability objectives, especially in incorporating environmental, social, and governance (ESG) standards into banking practices [54]. The theme clusters highlight the interrelationships of governance with economic and social aspects, demonstrating a comprehensive perspective of sustainable banking as a multidisciplinary field.

5.1. Regional and Global Perspectives

The geographic analysis indicates substantial contributions from nations such as the USA, China, and India, alongside a growing emphasis on collaborative international research initiatives. Recent research has emphasized the international aspect of sustainable banking, specifically the transference of governance norms across borders to tackle common sustainability issues [55]. Furthermore, emerging economies, especially those in sub-Saharan Africa and Southeast Asia, are adding to the discourse, often highlighting regional policy adaptations and institutional frameworks necessary for sustainable financial systems [56,57].

5.2. Evolution of Research Themes

Trend analysis shows that research topics have changed over time. Before 2010, the focus was on basic questions of corporate governance, but after 2010, the focus has been on comprehensive sustainability frameworks. This tendency reflects the increasing significance of tackling climate change, ethical finance, and stakeholder participation in banking processes, as highlighted in recent research [58,59]. People increasingly view sustainable banking as a catalyst for extensive socio-economic advancement, as evidenced by the prevalence of phrases like “economic growth” and “institutional framework”.

5.3. The Functions of Principal Contributors and Publications

The preeminence of authors like Asongu SA and prestigious magazines such as Sustainability signifies the focused intellectual endeavors propelling the discipline. Recent bibliometric analyses in related fields show that prolific contributors have a big impact on shaping research paths and making plans for how governance and sustainability can work together [59]. The diverse contributions from publications specializing in economics, politics, and environmental studies highlight the extensive significance and pertinence of sustainable banking research.

Despite the increasing number of studies and the diversity of research, the discipline encounters hurdles, such as the necessity for standardized measures to assess governance efficacy and its direct influence on sustainability results. Henisz et al. [59] assert that, in order to obtain a better idea of how well governance procedures help companies to reach their ESG goals, we should use both qualitative and quantitative methods together. Moreover, as global banking systems grow more integrated, the necessity of unified governance frameworks that consider cultural and institutional differences has become apparent. Bibliometric analysis underscores the dynamic and interdisciplinary characteristics of research concerning governance indicators in sustainable banking. Principal findings highlight the importance of governance strategies, the increasing significance of sustainability within financial systems, and the worldwide dissemination of academic contributions. These discoveries, corroborated by current literature, indicate that the subject is swiftly evolving to confront modern issues, providing a solid basis for future research and practical applications.

While substantial progress has been made in the study of governance indicators and sustainable banking, several key limitations persist in the current body of research. Addressing these shortcomings is critical for advancing both our theoretical understanding and practical applications in the field.

The absence of standardized methodologies and frameworks for evaluating governance efficacy remains a significant gap. This lack of uniformity makes it challenging to compare findings across regions and institutions, hindering the establishment of universally accepted best practices. Although advanced technologies such as artificial intelligence, blockchain, and big data analytics offer immense potential for improving governance, their integration into governance frameworks remains limited. This underexplored area presents opportunities for innovation in enhancing transparency, accountability, and decision-making processes. Governance practices exhibit significant regional disparities, particularly between developed and developing economies. Developing regions often face unique challenges, including weaker institutional frameworks, limited resources, and regulatory inconsistencies, which require localized research and adaptive solutions. Existing research provides limited insights into the long-term financial and societal impacts of governance frameworks within sustainable banking systems. Understanding how governance contributes to achieving environmental, social, and governance (ESG) objectives, while balancing economic and societal outcomes, remains an underdeveloped area of study. By identifying these gaps, this study highlights the need for future research to address these challenges comprehensively. Bridging these shortcomings will enhance the effectiveness of governance indicators as tools for promoting sustainable banking practices and achieving broader sustainability goals.

The results of this bibliometric analysis provide a detailed depiction of research trends, collaboration patterns, and thematic evolution in governance indicators for sustainable banking. Notably, the findings align with existing theories emphasizing the centrality of governance structures in achieving sustainability objectives. The prominence of a “governance approach” as a thematic focal point resonates with frameworks such as ESG integration, which highlights governance as a key pillar in sustainable banking. However, certain deviations from established theories are also apparent. For example, while traditional frameworks often emphasize corporate governance, this study reveals a broader focus on integrating environmental and social considerations within governance structures. Additionally, geographic analysis highlights contributions from emerging economies, suggesting the diversification of scholarly activity in a way that challenges the historical dominance of research from developed regions. This reflects a shift toward recognizing regional and contextual nuances in governance practices. These findings underscore the dynamic and evolving nature of governance research in sustainable banking, demonstrating both its alignment with and divergence from established theories and frameworks. Future studies should delve deeper into these deviations to uncover the underlying factors driving these shifts.

5.4. Systematic Summary of Literature Research Content

To enhance the significance of this review, this study systematically summarizes the research content, topics, characteristics, and ideas in the field of governance indicators in sustainable banking.

5.4.1. Research Content

Governance indicators are explored through their integration into ESG frameworks, focusing on their impact on corporate sustainability and financial performance. Research spans themes such as policy frameworks, institutional governance, and regional differences in sustainability practices. Studies also address the role of governance in mitigating corruption, enhancing transparency, and promoting social and environmental justice.

5.4.2. Research Topics

Prominent topics include ESG integration, the influence of governance quality on corporate social performance, and the role of governance in enabling the sustainability transition. Recent topics include the application of advanced technologies such as AI and blockchain in governance frameworks. Other emerging areas include gender inclusivity in governance and the intersection of governance with renewable energy and green finance.

5.4.3. Research Characteristics

The field is highly interdisciplinary, drawing from economics, environmental science, sociology, and finance. A shift from traditional corporate governance to more integrated and dynamic governance approaches is evident. Thematic clustering reveals the existence of an increasing emphasis on global collaboration and regional contextualization of governance practices.

5.4.4. Research Ideas

This study concerns the conceptualization of governance as a dynamic and adaptable framework responsive to socio-economic and environmental challenges. Emphasis should be placed on measuring governance effectiveness through standardized metrics and their integration into financial systems. There are calls for the further exploration of governance’s role in addressing global challenges such as climate change and social inequality. By systematically summarizing these aspects, this review provides a holistic understanding of the governance indicators in sustainable banking and highlights the evolution of ideas and approaches in the field.

Despite the growing diversity of research, the field faces challenges such as a lack of standardized measures for assessing governance efficacy and the impact of this on sustainability outcomes. There is a need for unified governance frameworks that address cultural and institutional differences globally. Moreover, the integration of technological advancements, such as blockchain and AI, into governance frameworks remains underexplored.

These findings highlight a dynamic and evolving research field that balances its alignment with established theories while exploring novel frameworks to address emerging sustainability challenges.

5.5. Synthesis of Research Trends and Insights

To enhance the clarity and utility of the visual charts, detailed explanations and insights were added to provide a cohesive narrative that connects the figures to key research themes and findings. Each chart now serves as a visual representation of critical trends, knowledge gaps, and opportunities in the field of governance indicators and sustainable banking research.

For instance, the annual scientific production chart demonstrates the rapid growth in publications since 2010, indicating an increasing academic focus on integrating governance frameworks with sustainable banking. This surge reflects the rising importance of environmental, social, and governance (ESG) criteria in financial systems globally. Citation analysis charts emphasize the growing influence of certain foundational works that have shaped the field’s trajectory, highlighting key themes like regulatory quality, stakeholder engagement, and governance alignment with sustainability objectives. The keyword co-occurrence network reveals clusters of frequently used terms, such as “governance approach”, “sustainable development”, and “institutional framework.” These clusters underscore the interdisciplinary nature of the field while also identifying underexplored areas, such as the role of technology in governance and region-specific implementation challenges. Geographic distribution charts show that while developed economies, such as the United States and China, dominate the research landscape, there is growing scholarly activity in emerging economies. This highlights opportunities for future studies to delve into the unique challenges and practices in regions like Sub-Saharan Africa and Southeast Asia. By linking these visual elements with a detailed narrative, the charts not only present data but also contextualize them within the broader discourse on governance indicators and sustainable banking. This approach ensures that readers can derive meaningful insights and understand the implications of findings in a comprehensive manner.

6. Conclusions

This bibliometric analysis provides comprehensive insights into the intellectual landscape of governance indicators in sustainable banking, revealing significant patterns in research development, collaboration networks, and thematic evolution. The findings make several important contributions to advancing our understanding of this field.

The analysis indicates that a clear shift took place in research emphasis, moving from a focus on conventional corporate governance to integrated ESG frameworks, especially post-2010. As you can see from the rising popularity of terms like “governance approach” and “sustainable development” in our keyword co-occurrence study, this change shows that governance indicators are becoming more recognized as important parts of sustainable banking operations. The temporal study illustrates the gradual integration of increasingly sophisticated and nuanced governance measures into sustainable banking frameworks.

Our analysis of international collaboration patterns reveals the formation of a truly global research community, marked by substantial contributions from both developed and emerging economies. The USA, China, and India are prominent donors, although regional disparities in research priority indicate varying institutional frameworks and developmental phases. This geographic diversity enhances the discipline by providing diverse insights on governance execution and sustainability incorporation. Our examination of collaboration networks indicates the growing trends in international research partnerships, especially in tackling global sustainability issues.

Theme mapping identifies numerous significant knowledge gaps that require more research. Standardized measures are critically necessary to assess governance efficacy in sustainable banking. The problem of adopting governance frameworks across various institutional contexts necessitates additional examination. The amalgamation of technical advancements with governance frameworks is a burgeoning area of scholarly investigation. The gaps discovered in our bibliometric study provide intriguing avenues for future research. These findings have significant implications for various stakeholders in the domain. They offer explicit guidance for future research endeavors and underscore possible partnership prospects for scholars. Policy-makers might leverage these data to comprehend the progression of governance frameworks and the associated implementation issues. Banking professionals gain from an extensive understanding of optimal practices and evolving trends in sustainable banking governance.

The bibliometric analysis conducted in this study identified several critical research topics and pressing issues in the field of governance indicators and sustainable banking. These topics highlight the evolution of scholarly interest and provide valuable insights into the interdisciplinary nature of the field.

6.1. Key Research Topics

A prominent theme in the literature is the integration of environmental, social, and governance (ESG) criteria into banking systems. This research explores how ESG metrics contribute to sustainability goals while influencing corporate performance and stakeholder trust. Studies emphasize the importance of robust governance structures in fostering sustainable banking practices. This includes research on rules of law, regulatory quality, and stakeholder engagement as the critical components of effective governance. A significant body of research examines geographic differences in governance practices. Scholars have highlighted how the effectiveness of governance varies across developed and developing regions, reflecting diverse institutional challenges and opportunities. The role of governance in enabling transitions toward sustainable financial systems is another key topic. This includes exploring how governance indicators align with broader sustainability goals, such as climate change mitigation and socio-economic inclusiveness.

6.2. Pressing Issues and Emerging Themes

A recurring challenge in the field is the lack of standardized methods to evaluate governance effectiveness. This issue hampers the ability to compare findings across regions and contexts. Developing countries face unique challenges in adopting sustainable banking practices, such as weak institutional frameworks, limited access to technology, and policy inconsistencies. Emerging research highlights the potential of advanced technologies, such as blockchain and artificial intelligence, to enhance transparency, accountability, and decision-making in governance frameworks. This theme represents a promising area for future exploration.

These findings provide a comprehensive overview of the intellectual landscape of governance indicators and sustainable banking research, offering insights into both the current state of the field and opportunities for future investigation. By addressing these topics and challenges, this study contributes to advancing our understanding of sustainable governance practices and their implications for the financial sector.

This study synthesizes the insights obtained from bibliometric analysis of thematic clusters, providing a structured summary of key findings and their implications for future research and practice relating to governance indicators and sustainable banking. The consolidation of findings highlights the progress made in the field, the gaps that persist, and the emerging directions for scholarly inquiry.

6.2.1. Thematic Clusters

The analysis reveals a growing emphasis on the integration of environmental, social, and governance (ESG) criteria within financial systems. Governance frameworks are recognized as critical enablers of sustainability transitions, fostering transparency, accountability, and stakeholder trust. Studies demonstrate significant geographic variations in governance practices, with developed regions focusing on advanced regulatory frameworks and emerging economies tackling foundational institutional challenges. This thematic cluster underscores the need for localized solutions to governance issues. Emerging themes indicate the potential of advanced technologies, such as blockchain and artificial intelligence, to improve governance metrics. These innovations represent an underexplored avenue with significant implications for enhancing decision-making and operational efficiency.

6.2.2. Summary of Research Progress

The field has witnessed substantial growth, particularly since 2010, as reflected in the increasing number of publications and collaborative research efforts. This progress highlights the rising importance of sustainable banking as a global research priority. Key research outputs have addressed foundational topics, such as regulatory quality, the rule of law, and stakeholder engagement, while also expanding to interdisciplinary themes like ESG integration and climate-focused governance.

6.2.3. Identification of Key Gaps

The lack of standardized governance metrics is a recurring challenge, hindering the comparison of findings and the establishment of best practices. Limited research exists on region-specific governance challenges, particularly in developing economies, where institutional weaknesses present unique obstacles. The integration of advanced technologies into governance frameworks remains an emerging field, with untapped potential for innovation.

6.2.4. Emerging Directions for Future Research

It is necessary to develop unified frameworks and methodologies for assessing governance indicators consistently across diverse regions and contexts. It is necessary to explore the intersection of governance practices and financial performance in order to understand the long-term impact of sustainable banking on both economic and societal outcomes. Further, there is a need to investigate the practical application of technological innovations to enhance governance transparency, accountability, and efficiency.

6.3. Limitations

While this study provides a detailed bibliometric analysis of governance indicators in sustainable banking, it is not without limitations. First, the chronological boundary (1975–2025) potentially excluded the most recent advancements in this rapidly evolving field. Second, reliance on bibliometric data from specific academic databases, such as Web of Science and Scopus, may introduce biases by excluding valuable gray literature or practitioner perspectives. Lastly, this study emphasizes academic contributions, potentially overlooking the practical application of governance frameworks in banking practices.

This study is carefully aligned with the core themes of governance indicators and sustainable banking, ensuring the development of a cohesive narrative that reflects on the evolution of the field and its broader implications. The conclusions drawn from the bibliometric analysis and thematic synthesis provides a holistic understanding of the current state of research and actionable insights for future studies. The analysis highlights the shift from traditional corporate governance models to integrated frameworks that include environmental, social, and governance (ESG) criteria. This evolution underscores the increasing complexity and interdisciplinary nature of sustainable banking research. Regional disparities in governance practices remain a central theme, revealing the varying levels of progress and challenges faced across developed and developing economies. The findings reaffirm the critical role of governance frameworks in driving sustainable transitions within financial systems. Key themes such as regulatory quality, stakeholder engagement, and the integration of technological advancements are central to addressing global sustainability challenges. This study bridges the gap between academic research and practical applications, offering a comprehensive perspective on the interplay between governance indicators and banking sustainability. It is necessary to develop standardized governance metrics to facilitate cross-regional comparisons and establish best practices. It is necessary to investigate the application of advanced technologies, such as blockchain and artificial intelligence, in order to improve governance transparency and efficiency. It is necessary to expand research on region-specific challenges to ensure that governance frameworks are adaptable and relevant in diverse contexts.

6.4. Future Research Directions

The bibliometric analysis and thematic synthesis conducted in this study reveal several promising directions for future research related to governance indicators and sustainable banking. Addressing these avenues will help to bridge existing gaps and advance the understanding and application of governance frameworks in the financial sector. The following key areas are identified as critical for further exploration: There is a pressing need to establish standardized frameworks and methodologies for measuring governance indicators. Such frameworks would enable consistent evaluation across regions and institutions, facilitating cross-comparisons and the identification of best practices. Emerging technologies, such as blockchain, artificial intelligence, and big data analytics, hold significant potential to enhance governance practices. Future research should focus on how these technologies can improve transparency, accountability, and decision-making processes within governance frameworks. Governance practices often face unique challenges in different regions due to variations in institutional capacity, cultural norms, and regulatory environments. Future studies should explore these region-specific factors to better adapt governance frameworks to local contexts, especially in developing economies. Further research is needed to explore the relationship between governance practices and the financial performance of banking institutions. A particular focus should be placed on understanding how governance frameworks contribute to achieving ESG objectives, balancing economic growth with environmental and social sustainability. These research directions are intended to guide future scholarly efforts and practical applications, ensuring that governance indicators continue to evolve as a critical component of sustainable banking. By addressing these areas, researchers and practitioners can contribute to the development of resilient and inclusive financial systems that support global sustainability goals.