Sustainable finance investment and organisational performance: a bibliometric analysis and TCCM framework

Purpose This study aims to systematically examine the relationship between sustainable finance investment and organisational performance through a bibliometric review and theories, characteristics, context and methodologies (TCCM) analysis. It seeks to explore key theoretical frameworks, publication trends and emerging themes in the literature on sustainable finance and organisational performance. Design/methodology/approach A systematic literature review (SLR) was conducted following the SPAR-4 SLR protocol. A bibliometric analysis was performed on 159 articles published between 2003 and 2023, using data from the Scopus database. The study employed performance analysis, science mapping and the TCCM framework to identify key trends, theoretical perspectives and methodological approaches. Findings The study finds that sustainable finance positively influences organisational performance, with frequent use of theories like stakeholder theory, RBV, institutional theory and agency theory. Bibliometric analysis reveals top journals, authors, institutions and countries. Research is grouped into four themes: sustainability-performance link, ESG, CSR with mediators/moderators and SRI. It also highlights underdeveloped theories such as upper echelons theory, responsible leadership theory, signalling theory and configuration theory. Key gaps include limited theory integration, methodology diversity and geographic scope, for longitudinal and cross-country studies and inclusion of non-financial metrics. Originality/value This study is among the first to systematically review sustainable finance and its impact on organisational performance using the TCCM framework. By integrating bibliometric analysis and a structured review, it provides a comprehensive roadmap for future research. This study presents an integrated TCCM and Paradox Theory framework that addresses research gaps, enhances understanding of the sustainable finance and performance relationship and provides direction for future research.