PRISMA Model (Preferred Reporting Items for Systematic Reviews and Meta-Analyses)

 The PRISMA model is a structured framework used in systematic literature reviews and meta-analyses to ensure transparency, completeness, and reproducibility. It helps researchers identify, screen, select, and include relevant studies in a structured manner.

PRISMA Flowchart Stages

The PRISMA model follows four key stages:

1️⃣ Identification

  • Collect studies from multiple databases (e.g., Scopus, Web of Science, Google Scholar).
  • Remove duplicate studies.

2️⃣ Screening

  • Apply inclusion/exclusion criteria (e.g., time period, relevance, peer-reviewed journals).
  • Exclude irrelevant studies based on titles/abstracts.

3️⃣ Eligibility

  • Conduct full-text reading of the remaining papers.
  • Assess methodological quality and relevance.

4️⃣ Inclusion

  • Select final studies for qualitative and quantitative synthesis.
  • Use for systematic review or meta-analysis.

PRISMA Flow Diagram Example

📌 A PRISMA flow diagram visually represents the study selection process:

markdown
                    Identification  
--------------------------------------------------
Records identified from databases (n=1000)  
Duplicates removed (n=200)  
Records screened (n=800)  

                    Screening  
--------------------------------------------------
Records excluded based on title/abstract (n=500)  
Full-text articles assessed (n=300)  

                    Eligibility  
--------------------------------------------------
Full-text articles excluded (n=150)  
Studies included in review (n=150)

How to Use PRISMA in Finance Research?

Example: Impact of ESG Investing on Firm Performance

🔹 Step 1: Identification

  • Collect ESG-related research from Scopus, Web of Science, SSRN, Google Scholar.
  • Exclude duplicate studies.

🔹 Step 2: Screening

  • Apply filters: Time period (2010–2024), empirical studies, peer-reviewed papers.
  • Exclude non-relevant papers based on title & abstract.

🔹 Step 3: Eligibility

  • Read full-text papers and assess study quality.
  • Remove studies with poor methodology or lack of relevance.

🔹 Step 4: Inclusion

  • Use final selected studies for meta-analysis/systematic review.

Why Use PRISMA?

✔ Ensures transparency & replicability in research.
✔ Helps in avoiding bias in literature selection.
✔ Improves the quality & credibility of systematic reviews.

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