Sustainability and Financial Performance of Small and Medium Enterprises: A Bibliometric Analysis

Abstract

Purpose – This study aims to map and analyze the intellectual structure of research on Small and Medium Enterprises (SMEs) at the intersection of sustainability and financial performance, using a comprehensive bibliometric knowledge map based on annual data retrieved from the Web of Science database.
Design/methodology/approach – Articles published between 1999 and 2024 are analyzed using bibliometric analysis methods. Accordingly, a total of 439 articles focusing on the sustainability and financial performance of SMEs published since 1999 are examined.
Results – VOSviewer (version 1.6.20) is employed to conduct the bibliometric analysis and to visualize collaboration networks, citation structures, and thematic trends. The analyses performed using VOSviewer provide a systematic overview of publication patterns, leading authors, influential journals, and dominant research themes.
Discussion – The results indicate that the first article addressing the sustainability and financial performance of SMEs in the Web of Science database was published in 1999, and that the volume of publications in this field has grown substantially, particularly since 2016. Moreover, 2023 emerges as the most productive year in terms of publication output. Griffith University is identified as the institution contributing the highest number of publications, while Cogent Business and Management is the journal with the largest number of articles in this research domain. Recent studies highlight emerging and prominent themes such as COVID-19, SME financial performance, sustainability, green innovation, corporate social responsibility, emerging markets, innovation, and entrepreneurship.