["Corporate Social Responsibility and Environmental Management, EarlyView. ", "\nABSTRACT\nSustainability has become a central strategic concern for multinational corporations (MNCs), yet the literature remains fragmented across theoretical traditions and analytical levels, limiting a coherent understanding of how sustainability is governed across diverse institutional contexts. Drawing on institutional logics theory, this study addresses this gap through a comprehensive bibliometric analysis of sustainability research in MNCs. Using 1573 English‐language journal articles indexed in the Web of Science Core Collection up to December 12, 2025, the study integrates co‐citation analysis, bibliographic coupling, and co‐word analysis to examine the intellectual foundations, current knowledge structure, and emerging research trajectories of the field. The dataset records an h‐index of 106 and 35,967 citations excluding self‐citations. Co‐citation analysis identifies four foundational theoretical streams centered on institutional theory, legitimacy, stakeholder perspectives, and resource‐based and dynamic capabilities approaches. Bibliographic coupling reveals six contemporary thematic clusters, including sustainable supply chains, green innovation and ESG, system‐level sustainability, sustainability reporting, integrated reporting, and disclosure compliance. Co‐word analysis highlights the growing integration of dynamic capabilities, internationalization, CSR‐governance‐performance relationships, and sustainability management across global value chains. The findings suggest that sustainability research in MNCs has evolved by building on existing theories and perspectives rather than replacing them, reflecting increasing integration between external legitimacy demands and internal capability development. The study advances an institutional logics perspective by conceptualizing sustainability governance as the coordination of two complementary logics: credibility‐building and capability‐building. It offers an integrative framework for understanding how sustainability commitments are coordinated across headquarters, subsidiaries, and global value chains, while providing practical insights for managers and policymakers seeking to align sustainability performance with credible governance and disclosure practices.\n"]