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What Myths about Green Technology Innovation and Financial Performance’s Relationship? A Bibliometric Analysis Review

Author

Listed:
  • Lingli Qing

    (Graduate School of Management of Technology, Pukyong National University, Busan 48547, Korea)

  • Dongphil Chun

    (Graduate School of Management of Technology, Pukyong National University, Busan 48547, Korea)

  • Young-Seok Ock

    (Graduate School of Management of Technology, Pukyong National University, Busan 48547, Korea)

  • Abd Alwahed Dagestani

    (School of Business, Central South University, Changsha 410083, China
    Faculty of Economics, University of Tishreen, Lattakia P.O. Box 2230, Syria)

  • Xiang Ma

    (Graduate School of Management of Technology, Pukyong National University, Busan 48547, Korea
    School of Mathematics and Information Science, Nanchang Normal University, Nanchang 330032, China)

Abstract

The relationship between green technology innovation and corporate financial performance has gained considerable traction in academics and businesses. However, there is limited overall bibliometric analysis on this topic. To meet the research need, this study, using Citespace (Citespace5.8r3 version, ChaomMei Chen, Philadelphia), performed the bibliometric analysis of the relationship between green technology innovation and corporate financial performance from 2007 to 2021, with 251 academic papers published in the Web of Science databases being analyzed, thus identifying the research hotspots and trends. The results showed that: (i) the number of publications has moved from slow to rapid growth and is expected to ramp up further; (ii) only a small collaboration network has been formed among the authors; (iii) institutions’ work operates relatively independently. There is still more room for inter-institutional or cross-discipline cooperation against geographical regions. However, there is a strong network of cooperation among countries. China performs best in this research area, followed by Spain and the UK; (iv) several significant co-citation relationships are also formed in the literature network. The burst literature on green innovation, product innovation, and financial performance is considered a research hotspot; and (v) “green innovation”, “corporate performance”, “legitimacy”, “environmental disclosure”, and “corporate sustainability” have become trends in research. Our results provide academics and practitioners with a robust roadmap on the relationship between green technology innovation and corporate financial performance.

Suggested Citation

  • Lingli Qing & Dongphil Chun & Young-Seok Ock & Abd Alwahed Dagestani & Xiang Ma, 2022. "What Myths about Green Technology Innovation and Financial Performance’s Relationship? A Bibliometric Analysis Review," Economies, MDPI, vol. 10(4), pages 1-21, April.
    • Handle: RePEc:gam:jecomi:v:10:y:2022:i:4:p:92-:d:792123
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    References listed on IDEAS

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    1. Anna Mazzi & Sara Toniolo & Alessandro Manzardo & Jingzheng Ren & Antonio Scipioni, 2016. "Exploring the Direction on the Environmental and Business Performance Relationship at the Firm Level. Lessons from a Literature Review," Sustainability, MDPI, vol. 8(11), pages 1-25, November.
    2. Anna, Petrenko, . "Мaркування готової продукції як складова частина інформаційного забезпечення маркетингової діяльності підприємств овочепродуктового підкомплексу," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 2(01).
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    Cited by:

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    3. Lei Li & Chunlin Yue & Shaojun Ma & Xiaoyu Ma & Feng Gao & Yilin Zheng & Xiufeng Li, 2025. "Life cycle assessment of car energy transformation: evidence from China," Annals of Operations Research, Springer, vol. 355(1), pages 19-38, December.
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    5. Iftikhar, Kainat & Bagh, Tanveer & Shabbir, Muhammad Nadir, 2025. "Corporate reputation gains from green innovation: Moderating effects of subsidies and eco-friendly products," Research in International Business and Finance, Elsevier, vol. 80(C).
    6. Bagher Bagheri & Hossein Azadi & Ali Soltani & Frank Witlox, 2024. "Global city data analysis using SciMAT: a bibliometric review," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(6), pages 15403-15427, June.
    7. Jun Liu & Yu Qian & Huihong Chang & Jeffrey Yi-Lin Forrest, 2022. "The Impact of Technology Innovation on Enterprise Capacity Utilization—Evidence from China’s Yangtze River Economic Belt," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
    8. Konstantina Ragazou & Ioannis Passas & Alexandros Garefalakis & Eleni Zafeiriou & Grigorios Kyriakopoulos, 2022. "The Determinants of the Environmental Performance of EU Financial Institutions: An Empirical Study with a GLM Model," Energies, MDPI, vol. 15(15), pages 1-15, July.
    9. Jianhua Zhang & Syed Ali Taqi & Aqsa Akbar & Jumanah Ahmed Darwish & Salman Abbas & Sajjad Alam & Yarui Gao & Muhammad Qaiser Shahbaz & Nadeem Shafique Butt, 2024. "Green Innovation in Business: A Comprehensive Bibliometric Analysis of Trends, Contributors, and Future Directions," Sustainability, MDPI, vol. 16(24), pages 1-18, December.
    10. Ali Abbas & Mohd Abass Bhat & Muhammad Waqas, 2026. "Driving Sustainable Success: The Nexus of Green Supply Chains, Environmental Awareness, and Green Human Capital," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 17(2), pages 3975-4005, April.
    11. Xuan Yang & Shihao Mao & Luxuan Sun & Chao Feng & Yinshuang Xia, 2022. "The Effect of Economic Policy Uncertainty on Green Technology Innovation: Evidence from China’s Enterprises," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
    12. Barnabas Maagi, 2023. "Applicability of blockchain technology in improving efficiency in supply chain operations in public procurement in Tanzania," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 12(9), pages 91-98, December.
    13. Agnus Baby & Md Aslam Mia & Anwar Allah Pitchay, 2024. "A systematic review of financial performance in the manufacturing industry," Future Business Journal, Springer, vol. 10(1), pages 1-20, December.
    14. Zeqian Wang & Chengjun Wang & Tao Feng & Yalan Wang, 2023. "The Influence of the Evolution of the Innovative Network on Technical Innovation from the Perspective of Energy Transformation: Based on Analysis of the New Energy Vehicle Industry in China," Sustainability, MDPI, vol. 15(5), pages 1-22, February.
    15. Edwin Paipa-Sanabria & María Belén Orozco-Lopez & Felipe Escalante-Torres & Clara Paola Camargo-Díaz & Julian Andres Zapata-Cortes, 2024. "Exploring the Landscape of Eco-Innovation: A Bibliometric Analysis of Concepts and Trends in the Manufacturing and Shipbuilding Industries," Sustainability, MDPI, vol. 16(12), pages 1-25, June.
    16. Liu, Liqian & Feng, Amei & Liu, Mingxia, 2024. "The effect of green innovation on corporate financial performance: Does quality matter?," Finance Research Letters, Elsevier, vol. 62(PB).
    17. Shiyong Zheng & Xinsen Ye & Weili Guan & Yuping Yang & Jiaying Li & Biqing Li, 2022. "Assessing the Influence of Green Innovation on the Market Performance of Small- and Medium-Sized Enterprises," Sustainability, MDPI, vol. 14(20), pages 1-14, October.

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