Corporate Governance and Firm Performance: A Bibliometric Insight (2000–2025)

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Published: October 10, 2024

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Authors

Kamrunnisha

DOI Number
https://doi.org/10.15415/jtmge/2024.152007

Keywords
Corporate governance, Firm performance, Bibliometric analysis, Science mapping, ESG, Board characteristics, Ownership structure

Abstract

Purpose: This study provides a comprehensive bibliometric insight into the intellectual structure, performance trends, and thematic evolution of research examining the relationship between corporate governance and firm performance from 2000 to 2025. Despite the vast number of empirical investigations into governance–performance dynamics, a systematic science-mapping analysis integrating performance and intellectual network perspectives remains scarce.

Methods: Data were retrieved from the Scopus database using a defined Boolean search string focusing on corporate governance mechanisms (e.g., board characteristics, ownership structure, audit committee, CEO duality) and firm performance indicators (e.g., ROA, ROE, Tobin’s Q). The final dataset included 1,245 peer-reviewed journal articles indexed under the Business, Management, and Accounting category. Analytical techniques included performance analysis, co-authorship mapping, keyword co-occurrence, and co-citation analysis using Bibliometrix (R) and VOSviewer.

Findings: Results indicate a sustained annual growth rate of approximately 9.2%, reflecting increasing scholarly interest post-2010. The United States, the United Kingdom, and China dominate the publication landscape, while India and Malaysia emerge as rising contributors. Thematic clustering reveals four dominant research streams: (1) board structure and monitoring; (2) ownership and control mechanisms; (3) governance–performance mediators such as leverage and innovation; and (4) ESG-oriented and sustainability governance. Recent years (2019–2025) demonstrate a clear shift toward integrating sustainability, stakeholder theory, and digital governance.

Implications: The study is limited to Scopus-indexed articles and English-language publications. Nevertheless, it provides an updated knowledge structure and a future research agenda for governance–performance scholarship.

Originality: This paper is among the first to present a 25-year bibliometric synthesis of corporate governance and firm performance, mapping the field’s evolution from classical agency theory to emerging sustainability and digital governance paradigms.

References

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How to Cite

Kamrunnisha. Corporate Governance and Firm Performance: A Bibliometric Insight (2000–2025). J.Technol. Manag. Grow. Econ.. 2024, 15, 69-81

Corporate Governance and Firm Performance: A Bibliometric Insight (2000–2025)

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