A systematic review of financial performance in the manufacturing industry

Author:

Baby AgnusORCID,Mia Md AslamORCID,Pitchay Anwar AllahORCID

Abstract

AbstractAchieving exceptional financial performance is a primary goal for every management team due to its importance in establishing a solid firm structure and facilitating growth. However, several factors consistently hinder the attainment of this objective, resulting in adverse effects on a firm’s performance and financial success. Therefore, this study aims to analyze scholarly publications to understand relevant factors influencing the financial performance of firms in the manufacturing industry. Using keywords in the Scopus database, we identified a total of 808 papers published between 1987 and 2022, and ultimately selected 289 for further analysis based on predetermined criteria. The selected literature was then analyzed in two different ways. First, we discerned the crucial factors affecting the financial performance of manufacturing firms. Our systematic review revealed that organizational characteristics (e.g., CSR practices, strategy, board characteristics, innovation & technology, information, decision-making and communication, and environmental and sustainability practices) play a more significant role in determining the financial performance of a firm than external factors (e.g., market economic parameters, government policies & support, and competition). Second, we employed VOSViewer software to dissect the selected publications, including the creation of bibliometric co-word maps and the examination of bibliographic coupling among journals. The results yielded valuable insights into leading nations, notable journals, noteworthy studies, trending keywords, and prominent publications in this field. Moreover, our research emphasizes the multifaceted nature of financial performance-related factors, offering useful insights for future studies exploring the interplay between factors and the performance of manufacturing firms.

Publisher

Springer Science and Business Media LLC

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3