Mapping the Relationship Between Green Innovation and Financial Performance: A Bibliometric Analysis
Abstract
This research emerged due to the increasing issue of a company’s sustainable development, especially the environment that affects financial performance. Finding, characterizing, and analyzing the evolution of research publishing trends investigated by researchers globally is the goal of this systematic literature review model study. Using the SR technique as the central methodology, researchers gathered 138 documents from the Scopus database between 2013 and 2023. The findings indicate that the number of publications from joint studies of different nations worldwide has significantly increased. These papers include topics such as the impacts of GI and the urgency of implementing it. Access to study data, funding assistance, and researcher interest all affect the annual rise. This study offers several recommendations to improve organizational knowledge related to GI and FP.
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References
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Chu, Z., Wang, L., & Lai, F. (2019). Customer pressure and green innovations at third party logistics providers in China: The moderation effect of organizational culture. International Journal of Logistics Management, 30(1), 57–75. https://doi.org/10.1108/IJLM-11-2017-0294
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Deckers, R., & Lago, P. (2022). Systematic literature review of domain-oriented specification techniques. Journal of Systems and Software, 192. https://doi.org/10.1016/j.jss.2022.111415
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Tariq, A., Badir, Y., & Chonglerttham, S. (2019). Green innovation and performance: moderation analyses from Thailand. European Journal of Innovation Management, 22(3), 446–467. https://doi.org/10.1108/EJIM-07-2018-0148
van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3
Vasileiou, E., Georgantzis, N., Attanasi, G., & Llerena, P. (2022). Green innovation and financial performance: A study on Italian firms. Research Policy, 51(6). https://doi.org/10.1016/j.respol.2022.104530
Wilke, D., Grewe, C., Thavathilakarjah, D., Anacker, H., & Dumitrescu, R. (2023). Method Engineering – a Systematic Literature Review on Scopus Base. Procedia CIRP, 120, 1636–1641. https://doi.org/10.1016/j.procir.2024.06.001
Wong, W. C., Batten, J. A., Ahmad, A. H., Mohamed-Arshad, S. B., Nordin, S., & Adzis, A. A. (2021). Does ESG certification add firm value? Finance Research Letters, 39. https://doi.org/10.1016/j.frl.2020.101593
Xie, X., Hoang, T. T., & Zhu, Q. (2022). Green process innovation and financial performance: The role of green social capital and customers’ tacit green needs. Journal of Innovation and Knowledge, 7(1). https://doi.org/10.1016/j.jik.2022.100165
Yadegaridehkordi, E., Foroughi, B., Iranmanesh, M., Nilashi, M., & Ghobakhloo, M. (2023). Determinants of environmental, financial, and social sustainable performance of manufacturing SMEs in Malaysia. Sustainable Production and Consumption, 35, 129–140. https://doi.org/10.1016/j.spc.2022.10.026
Zhang, F., Qin, X., & Liu, L. (2020). The interaction effect between ESG and green innovation and its impact on firm value from the perspective of information disclosure. Sustainability (Switzerland), 12(6). https://doi.org/10.3390/su12051866
Zheng, J., Khurram, M. U., & Chen, L. (2022). Can Green Innovation Affect ESG Ratings and Financial Performance? Evidence from Chinese GEM Listed Companies. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148677
Ali, Q., Salman, A., Yaacob, H., Zaini, Z., & Abdullah, R. (2020). Does big data analytics enhance sustainability and financial performance? The case of ASEAN banks. Journal of Asian Finance, Economics and B7]= nb usiness, 7(7), 1–13. https://doi.org/10.13106/jafeb.2020.vol7.no7.001
Chouaibi, S., Chouaibi, J., & Rossi, M. (2022). ESG and corporate financial performance: the mediating role of green innovation: UK common law versus Germany civil law. EuroMed Journal of Business, 17(1), 46–71. https://doi.org/10.1108/EMJB-09-2020-0101
Chu, Z., Wang, L., & Lai, F. (2019). Customer pressure and green innovations at third party logistics providers in China: The moderation effect of organizational culture. International Journal of Logistics Management, 30(1), 57–75. https://doi.org/10.1108/IJLM-11-2017-0294
Deb, B. C., Rahman, M. M., & Rahman, M. S. (2023). The impact of environmental management accounting on environmental and financial performance: empirical evidence from Bangladesh. Journal of Accounting and Organizational Change, 19(3), 420–446. https://doi.org/10.1108/JAOC-11-2021-0157
Deckers, R., & Lago, P. (2022). Systematic literature review of domain-oriented specification techniques. Journal of Systems and Software, 192. https://doi.org/10.1016/j.jss.2022.111415
Farrukh, M., Javed, S., Raza, A., & Lee, J. W. C. (2020a). Twenty years of green innovation research: trends and way forward. World Journal of Entrepreneurship, Management and Sustainable Development, 17(3), 488–501. https://doi.org/10.1108/WJEMSD-06-2020-0068
Farrukh, M., Javed, S., Raza, A., & Lee, J. W. C. (2020b). Twenty years of green innovation research: trends and way forward. World Journal of Entrepreneurship, Management and Sustainable Development, 17(3), 488–501. https://doi.org/10.1108/WJEMSD-06-2020-0068
Farza, K., Ftiti, Z., Hlioui, Z., Louhichi, W., & Omri, A. (2021). Does it pay to go green? The environmental innovation effect on corporate financial performance. Journal of Environmental Management, 300. https://doi.org/10.1016/j.jenvman.2021.113695
He, Y., Li, M., Yu, H., Yin, F., Zhang, X., Yang, Q., Xie, X., Wei, G., Chen, H., He, C., He, Y., & Chen, J. (2023). Bibliometric and altmetric analysis of research relating to antiphospholipid syndrome based on VOS viewer (2011–2021). Clinical Rheumatology, 42(5), 1285–1295. https://doi.org/10.1007/s10067-022-06485-5
Junaid, M., Zhang, Q., & Syed, M. W. (2022). Effects of sustainable supply chain integration on green innovation and firm performance. Sustainable Production and Consumption, 30, 145–157. https://doi.org/10.1016/j.spc.2021.11.031
Kemeç, A., & Altınay, A. T. (2023). Sustainable Energy Research Trend: A Bibliometric Analysis Using VOSviewer, RStudio Bibliometrix, and CiteSpace Software Tools. Sustainability (Switzerland), 15(4). https://doi.org/10.3390/su15043618
Khanchel, I., Lassoued, N., & Baccar, I. (2023). Sustainability and firm performance: the role of environmental, social and governance disclosure and green innovation. Management Decision, 61(9), 2720–2739. https://doi.org/10.1108/MD-09-2021-1252
Kuzior, A., & Sira, M. (2022). A Bibliometric Analysis of Blockchain Technology Research Using VOSviewer. Sustainability (Switzerland), 14(13). https://doi.org/10.3390/su14138206
Lame, G. (2019). Systematic literature reviews: An introduction. Proceedings of the International Conference on Engineering Design, ICED, 2019-August, 1633–1642. https://doi.org/10.1017/dsi.2019.169
Li, D., & Shen, W. (2021). Can corporate digitalization promote green innovation? The moderating roles of internal control and institutional ownership. Sustainability (Switzerland), 13(24). https://doi.org/10.3390/su132413983
Paul, J., & Barari, M. (2022). Meta-analysis and traditional systematic literature reviews—What, why, when, where, and how? In Psychology and Marketing (Vol. 39, Issue 6, pp. 1099–1115). John Wiley and Sons Inc. https://doi.org/10.1002/mar.21657
Przychodzen, W., Leyva-de la Hiz, D. I., & Przychodzen, J. (2020). First-mover advantages in green innovation—Opportunities and threats for financial performance: A longitudinal analysis. Corporate Social Responsibility and Environmental Management, 27(1), 339–357. https://doi.org/10.1002/csr.1809
Tariq, A., Badir, Y., & Chonglerttham, S. (2019). Green innovation and performance: moderation analyses from Thailand. European Journal of Innovation Management, 22(3), 446–467. https://doi.org/10.1108/EJIM-07-2018-0148
van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3
Vasileiou, E., Georgantzis, N., Attanasi, G., & Llerena, P. (2022). Green innovation and financial performance: A study on Italian firms. Research Policy, 51(6). https://doi.org/10.1016/j.respol.2022.104530
Wilke, D., Grewe, C., Thavathilakarjah, D., Anacker, H., & Dumitrescu, R. (2023). Method Engineering – a Systematic Literature Review on Scopus Base. Procedia CIRP, 120, 1636–1641. https://doi.org/10.1016/j.procir.2024.06.001
Wong, W. C., Batten, J. A., Ahmad, A. H., Mohamed-Arshad, S. B., Nordin, S., & Adzis, A. A. (2021). Does ESG certification add firm value? Finance Research Letters, 39. https://doi.org/10.1016/j.frl.2020.101593
Xie, X., Hoang, T. T., & Zhu, Q. (2022). Green process innovation and financial performance: The role of green social capital and customers’ tacit green needs. Journal of Innovation and Knowledge, 7(1). https://doi.org/10.1016/j.jik.2022.100165
Yadegaridehkordi, E., Foroughi, B., Iranmanesh, M., Nilashi, M., & Ghobakhloo, M. (2023). Determinants of environmental, financial, and social sustainable performance of manufacturing SMEs in Malaysia. Sustainable Production and Consumption, 35, 129–140. https://doi.org/10.1016/j.spc.2022.10.026
Zhang, F., Qin, X., & Liu, L. (2020). The interaction effect between ESG and green innovation and its impact on firm value from the perspective of information disclosure. Sustainability (Switzerland), 12(6). https://doi.org/10.3390/su12051866
Zheng, J., Khurram, M. U., & Chen, L. (2022). Can Green Innovation Affect ESG Ratings and Financial Performance? Evidence from Chinese GEM Listed Companies. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148677
Published
2024-12-11
How to Cite
KASRIANI, Kasriani; WAHYUNI, Ersa Tri; ROSDINI, Dini.
Mapping the Relationship Between Green Innovation and Financial Performance: A Bibliometric Analysis.
E-Jurnal Akuntansi, [S.l.], v. 34, n. 12, dec. 2024.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/121207>. Date accessed: 15 jan. 2025.
doi: https://doi.org/10.24843/EJA.2024.v34.i12.p08.
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