Financial management practices and SME performance (2001–2023): a systematic mapping through bibliometric analysis

Research on financial management practices and performance of small and medium enterprises has experienced significant growth, with an annual publication increase of 14.61% over the past two decades. This study presents a comprehensive bibliometric analysis of 247 peer reviewed publications indexed in the Web of Science database, spanning the period from 2001 to 2023. The objective is to map publication trends, identify influential research constituents, examine collaboration networks, and highlight future research opportunities in the domains of financial management practices and small and medium enterprise performance. Through co-occurrence and co-citation analyses, the study identifies major research clusters centred on performance measurement, financial reporting, innovation, and sustainability. Notably, there is an increasing integration of non-financial dimensions such as corporate social responsibility and environmental sustainability into traditional financial performance metrics. Spain, Malaysia, and China emerge as key contributors to scholarly output and collaboration. Future research directions include the development of industry specific financial management practices frameworks, a deeper exploration of financial technology applications, and bridging the gap between academic theory and the practice of small and medium enterprises. This review contributes to a clearer understanding of the evolving intellectual landscape and provides a valuable reference point for scholars, policymakers, and practitioners supporting small and medium enterprises.