Environmental performance and corporate financial success: a global bibliometric analysis and research evolution

Abstract

This bibliometric review maps and analyzes research trends in the literature connecting environmental performance and corporate financial success. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 guidelines, we conducted a systematic analysis of 1,356 articles from the Scopus database (2006–2025). The bibliometric analysis, using VOSviewer and Biblioshiny tools, reveals three distinct research trends: an initial focus on theoretical framework development (2006–2015), followed by methodological advancement phase (2016–2020), and an emerging emphasis on technological integration (2021–2025). Co-citation analysis identifies key research clusters and intellectual foundations of the field. Our review uncovers significant research gaps: limited studies in emerging economies, scarcity of longitudinal analyses, and underdeveloped technological measurement frameworks. Citation pattern analysis shows geographical concentration of research in developed economies, indicating opportunities for broader regional coverage. The evolution of research methodologies indicates a shift from singular approaches to more integrated frameworks. These trends and gaps guide future research directions in environmental performance literature.