The spotlight of this study is to examine whether environmental, social, and governance performance affects the financial performance of microfinance institutions (MFIs). The topic has been of much interest to researchers and policymakers due to increased awareness among stakeholders on the adverse social and environmental impacts of business actions. Using a dataset covering 5 years for 62 MFIs across 34 countries, we find that environmental and governance performance has no impact on the financial performance of MFIs. As for the social–financial performance nexus, our results reveal a positive relationship using the depth of outreach as proxy of social performance. However, when women empowerment is used as a proxy for social performance, evidence suggest presence of negative relationship. The study contributes to the literature by providing new evidence on the relationship between environmental, social, and governance and financial performance from microfinance industry. Our results are robust to a variety of econometric specifications and have significant policy implications for donors, investors, MFIs, and regulators.

With the rapid global spread of the COVID-19 pandemic, researchers from diverse fields of study have contributed markedly in different research aspects. Considering the substantial economic significance of the pandemic at the micro and macro level throughout the world, we review the scientific publications in the discipline of Economics. To draw a broad inference, we analyze a total of 1,636 scientific publications starting from 1974, which covers the period of earlier pandemics or epidemics that have a close association with COVID-19 using bibliometric analysis. Our analysis and mapping reveal key information related to the contributors at different levels, including author, institution, country, and publication sources. Besides, we identify the historical concentration of research using scientific clustering and illustrate transformations at different times. Moreover, recognizing the underlying inadequacy of economics research, we propose several areas of future research. Our findings and suggestions are expected to act as a roadmap to potential research opportunities and notable implications for business and policymakers.

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