Corporate Governance and Financial Performance: Bibliometric–Systematic Literature Reviews (B-SLR)

This bibliometric review examines the relationship between corporate governance and financial performance by synthesising evidence from a broad range of empirical studies. It also identifies key patterns in publication output, citation trends, and scholarly impact within the field. Following the PRISMA guidelines, a bibliometric review was conducted using articles indexed in the Scopus database. A total of 2095 articles published between 2020 and September 2025 were initially retrieved synthesising via a keyword search with the string “Corporate Governance” AND “Financial Performance.” After applying the inclusion criteria (full-text availability, English language, and relevance to the topic), 887 articles were retained for analysis. The findings indicate that most studies report a positive association between corporate governance practices and financial performance. The literature is primarily concentrated around themes such as corporate governance, financial performance, ESG practices, and board characteristics, with the connection between governance and a firm’s financial performance appearing generally positive, albeit context dependent. The results also reveal a growing research emphasis on sustainability-oriented governance, particularly ESG-related factors, reflecting a broader shift in the field towards long-term value creation. This review underscores the importance of nuanced corporate governance frameworks for stakeholders seeking to enhance the sustainability of financial performance, while also deepening understanding of the impact of governance on firm financial performance among both academics and practitioners. In addition, the review offers a broader perspective on the existing literature and identifies several gaps that warrant further investigation.