Green Innovation and Financial Performance : Mapping Evidence Through a Systematic Review
Authors
- Aayushi Gupta Ph.D. Research Scholar (Corresponding Author), Department of Commerce, Faculty of Commerce and Business, Delhi School of Economics, University of Delhi, New Delhi - 110 007
-
Ritu Sapra
Professor, Department of Commerce, Faculty of Commerce and Business, Delhi School of Economics, University of Delhi, New Delhi -110 007
https://orcid.org/0000-0002-7720-1471
-
Deepak Tandon
Senior Professor, Institute of Management Studies (IMS), PGDM Campus: C-238, G. T. Road, Lal Quan, Ghaziabad - 201 009
https://orcid.org/0000-0003-3925-6874
DOI:
https://doi.org/10.17010/ijf/2026/v20i9/175460Keywords:
green innovation, eco-innovation, financial performance, content analysis, Scopus.JEL Classification Codes : O31, Q01, Q56
Publishing Chronology: Paper Submission Date : September 10, 2025 ; Paper sent back for Revision : July 5, 2026 ; Paper Acceptance Date : July 20, 2026 ; Paper Published Online : September 15, 2026.
Abstract
Purpose : The study intended to provide a thorough review of the existing literature, ascertain the direction in which the research is progressing, and comprehend the current state of research available regarding green innovation practices and corporate financial performance.
Design/Methodology/Approach : The study conducted a hybrid literature evaluation, utilizing both qualitative and quantitative techniques. A bibliometric analysis was conducted, and a keyword co-occurrence analysis was also performed using VOSviewer software. A total of 74 research articles were selected from the Scopus database using systematic procedures. Furthermore, a comprehensive systematic literature review (SLR) was conducted using content analysis, in accordance with the theory, context, and methodology (TCM) framework, to consolidate insights from the selected sample.
Findings : The findings of the paper indicated that the association of green innovation and financial performance is an emerging area, as evidenced by publication trends analysis. The detailed content analysis revealed various research gaps and provided future research avenues.
Practical Implications : This study provided vital insights for organizations and academicians in comprehending the correlation between financial performance and green innovation. Organizations can enhance sustainability and gain a competitive edge by implementing eco-innovation practices.
Originality/Value : This paper offered novelty and added value to the existing literature, as this study employed both an SLR through detailed content analysis and bibliometric analysis to explore the relationship between the organization’s green innovation practices and its financial performance.
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References
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