Booster Analytics

The volume of information in the rapidly evolving field of sustainable finance can be daunting. To navigate this vast landscape, PhD students must not only know where to search but also how to evaluate and filter relevant information efficiently. This guide will help you refine your research strategies with specific examples and tips tailored to the field of sustainable finance.

1. Understand the Scope of Your Research

Before you begin searching, clearly define the scope of your research. What are the core questions or problems you are investigating? In sustainable finance, this might include topics like green bonds, environmental, social, and governance (ESG) investing, impact investing, or the financial risks of climate change.

Example:

If your research question is “How do ESG factors influence investment returns in emerging markets?” your key concepts are ESG factors, investment returns, and emerging market

Actionable Tip: Write down your research questions and identify the key concepts. These terms will form the foundation of your search strategy.

2. Choose the Right Databases and Resources

Selecting the appropriate databases is crucial, especially in niche fields like sustainable finance. While general databases such as Google Scholar are a good starting point, for sustainable finance, more targeted databases like Bloomberg, EBSCO Business Source, Scopus, or OECD iLibrary will yield more specific and high-quality results.

Example:

For research on green bonds, databases like Refinitiv (which tracks sustainable financial instruments) or Bloomberg’s ESG Data Services will be more valuable than broader databases.

Actionable Tip: Identify at least two or three databases specifically suited to your sustainable finance research area. Subscribe to alerts on these platforms for key terms like “sustainable finance” or “ESG investment.”

3. Use Boolean Logic and Advanced Search Techniques

Boolean logic (AND, OR, NOT) and advanced search techniques are essential for refining searches in sustainable finance, where the interdisciplinary nature of the field means searches can yield a wide range of results.

Example:

• “Green bonds AND corporate sustainability” to find research that examines the link between green bonds and corporate sustainability efforts.

• “Sustainable finance OR responsible investing” to include studies that may use alternative terminology.

• “ESG investing NOT environmental policies” if you want to exclude papers focused solely on environmental policies and concentrate on broader ESG factors.

Additionally, use filters such as publication date, document type (journal articles, policy reports), or geographic focus to narrow your search.

Actionable Tip: Experiment with Boolean operators and filters. Try different combinations of keywords such as “impact investing,” “carbon pricing,” and “climate-related financial disclosures” to fine-tune your results.

4. Prioritize Peer-Reviewed and High-Impact Sources

In sustainable finance, prioritizing peer-reviewed articles from high-impact journals ensures the credibility and reliability of your research. Journals like the Journal of Sustainable Finance & Investment, Climate Policy, and Business Strategy and the Environment provide robust research on topics related to sustainable finance.

Example:

If you are exploring carbon pricing, prioritize articles from journals like Energy Economics or Environmental Finance, which are well-regarded for their research in environmental and financial intersections.

Actionable Tip: Use tools like Journal Citation Reports (JCR) or Scopus to evaluate the impact of journals and articles, ensuring you focus on highly regarded sources for your research.

5. Organize and Track Your References

Organizing your references is particularly important in sustainable finance, as the field is constantly evolving with new developments in policies, markets, and frameworks. Tools like EndNote, Mendeley, or Zotero can help you manage and annotate sources related to topics like green finance, sustainable investing, or climate risk management.

Actionable Tip: Organize your references into thematic categories, such as ESG, climate finance, or carbon markets, for easy access during the writing process.

6. Leverage Reviews and Meta-Analyses

In sustainable finance, systematic reviews and meta-analyses can provide comprehensive insights into emerging trends, policies, and market behavior. These papers aggregate and synthesize findings from multiple studies, saving you time and providing a broad overview of the field’s state.

Example:

If your focus is on the impact of green bonds on financial performance, searching for systematic reviews in journals like the Journal of Environmental Economics and Management or Sustainability will give you a solid overview of the literature.

Actionable Tip: Use keywords like “systematic review” or “meta-analysis” combined with terms such as “sustainable finance” or “ESG performance” to find comprehensive overviews of your topic.

7. Evaluate the Quality of Sources

In sustainable finance, the quality of sources is crucial due to the growing number of corporate-sponsored reports and greenwashing concerns. Evaluating the credibility of sources involves checking the author’s credentials, the transparency of data, and the journal’s reputation.

Example:

When researching sustainable investment strategies, a paper authored by an academic affiliated with a reputable institution and published in a high-impact journal should be prioritized over corporate-sponsored white papers that may have a conflict of interest.

Actionable Tip: Develop a checklist to quickly evaluate the credibility of sources, including author affiliations, journal reputation, and number of citations.

8. Search Beyond the Usual Suspects

In sustainable finance, it’s important to broaden your search beyond traditional academic journals. Policy briefs, regulatory reports, and industry publications from organizations like the United Nations, OECD, and World Bank are crucial for understanding how financial markets are responding to sustainability pressures.

Example:

For research on climate-related financial disclosures, reports from the Task Force on Climate-related Financial Disclosures (TCFD) or the PRI (Principles for Responsible Investment) may provide practical insights that go beyond academic publications.

Actionable Tip: Incorporate reports from international organizations and NGOs alongside academic journals to ensure your research reflects both theoretical and practical developments in sustainable finance.

9. Practice Patience and Persistence

Sustainable finance research can be complex, covering multiple domains like economics, environmental science, and policy. You may need to revise your search terms and consult several databases before finding the most relevant materials.

Example:

Suppose your topic is ESG integration in portfolio management. In that case, you may need to explore interdisciplinary databases like EconLit, Web of Science, and Scopus and revisit your search terms to refine your focus.

Actionable Tip: Set aside dedicated time for refining your search strategy and exploring new keywords as your research progresses.

10. Stay Updated with Research Alerts

Given the fast-evolving nature of sustainable finance, staying updated with the latest research is crucial. Many databases allow you to set up alerts for specific keywords, which will notify you of new articles or reports that match your criteria.

Example:

Set up alerts for terms like “sustainable finance regulations” or “impact investing” on platforms like Google Scholar, Scopus, or ScienceDirect to receive notifications on the latest publications.

Actionable Tip: Use keyword alerts to stay on top of emerging trends without needing to manually check databases every day. This action will keep you informed of new developments in sustainable finance throughout your PhD journey.

How to Find Keywords for Your Search

1. Start with Your Research Question

For sustainable finance, breaking down your research question will help you identify key concepts that will serve as your initial keywords.

Example:

If your research question is “How do green bonds influence corporate credit ratings?” the key concepts are green bonds, corporate credit ratings, and sustainable finance.

2. Use Synonyms and Related Terms

In sustainable finance, different terms might be used depending on the focus. Expanding your search by considering synonyms and related terms can help you find more relevant papers.

Example:

For “green bonds,” you might also consider terms like “climate bonds,” “sustainable bonds,” or “environmental bonds.” Similarly, for “ESG,” you could use “socially responsible investing (SRI)” or “corporate social responsibility (CSR).”

3. Consult Subject-Specific Thesauri or Databases

Most academic databases offer built-in thesauri or subject headings to help you find standardized terms that fit your topic in sustainable finance.

Example:

In databases like Scopus, searching for “sustainable finance” may suggest related terms like “environmental finance,” “impact investing,” or “green economy.”

4. Review Key Articles for Keywords

Looking at the keywords listed in relevant articles can provide insight into alternative terms or concepts that may enhance your search strategy.

Example:

An article on sustainable investing might list additional keywords such as “ethical investment,” “low-carbon finance,” or “green portfolio.” These keywords can expand your search possibilities.

5. Use Google Scholar’s Keyword Suggestions

As you perform your initial searches, platforms like Google Scholar will suggest related keywords based on your queries.

Example:

Searching for “carbon pricing” on Google Scholar might prompt suggestions like “carbon tax,” “emissions trading,” or “climate finance regulation.” Incorporate these into your search to widen the scope.

By refining your search techniques and incorporating these strategies, particularly in the context of sustainable finance, you can more efficiently navigate the vast array of information available and zero in on the most relevant and high-quality materials for your PhD research. This iterative and strategic approach will ultimately save time and enhance the depth of your literature review.