Aug 2026· International journal of computer information systems and industrial management applications· Vol 18, pp. 314-332· 0 citations
Abstract
Financial literacy is increasingly recognised as a core capability shaping the sustainability, performance, and financing prospects of micro, small, and medium enterprises (MSMEs/SMEs), particularly in developing and emerging economies. Although empirical research on this relationship has expanded rapidly, the evidence remains dispersed across methods, regions, and thematic streams. This study provides an updated synthesis by combining a systematic literature review with bibliometric analysis of 346 peer-reviewed and scholarly publications drawn from Scopus, Web of Science, EBSCO, Google Scholar, and ProQuest for the period January 2010 to July 2026. Using PRISMA 2020 screening procedures and VOSviewer-supported co-citation and keyword co-occurrence mapping, the paper identifies six major intellectual clusters and seven emerging research gaps, traces the intellectual structure of the field, and highlights influential authors, journals, and country-level concentrations. The most recent literature from 2025–2026 points to three important emerging areas: the interaction between artificial intelligence and financial literacy, where AI advisory systems may both support and intensify the value of human financial judgement; climate and ESG finance literacy, which is becoming essential for MSMEs seeking sustainability-linked finance; and the maturation of digital financial literacy research in the context of embedded fintech and decentralised finance. Overall, evidence indicates that financial knowledge, financial attitudes, and financial behaviour together explain between 31% and 58% of the variation in SME performance indicators. The paper proposes an updated conceptual framework incorporating these new dimensions and identifies seven research gaps that frame a forward-looking research agenda up to 2030.
Micro, small, and medium enterprises (MSMEs) play a pivotal role in economic development across Asia, yet the literature remains fragmented regarding how firms reconcile internal capabilities with external institutional constraints. This study synthesizes the evolution of Asian MSME research between 2014 and 2024 using a hybrid bibliometric–systematic literature review (B-SLR) of 972 Scopus-indexed publications. Following the PRISMA 2020 guidelines, the study combines quantitative bibliometric mapping using VOSviewer with qualitative thematic synthesis to integrate insights from the Resource-Based View (RBV), Institutional Theory, and Dynamic Capabilities Theory. The findings reveal a clear transition in the literature from an emphasis on firm-level capabilities toward digital transformation, organizational resilience, and ecosystem integration. Although Indonesia and India account for the largest publication output, China demonstrates the highest citation impact per publication, indicating a distinction between research productivity and scientific influence. Seven interconnected thematic clusters were identified, highlighting the growing importance of digital capability, financial technology, sustainability, and institutional support. Building on these findings, this study proposes the Asian MSME Strategic Pathway Framework. It introduces the concept of Institutional Void Bridging to explain how MSMEs strategically combine internal digital capabilities with external digital ecosystem resources to mitigate institutional constraints. The framework represents a conceptual synthesis derived from the reviewed literature rather than an empirically validated model. By integrating fragmented research across diverse Asian contexts, this study contributes to theory development. It provides a conceptual foundation for future empirical research and evidence-based policymaking on MSME digital transformation.
Nafiah Ariyani, Edwin Mahatir, Farhat Umar et al.· Jurnal Perspektif Pembiayaan...· 0 citations
This study provides a bibliometric analysis of research on open innovation in small and medium-sized enterprises (SMEs) over the period 2009–2025. Using a dataset of 500 journal articles indexed in the Web of Science, the study maps the field’s intellectual structure, publication trends, influential sources, leading authors, country productivity, collaboration patterns, and thematic evolution. The results show a steady growth in scientific production, particularly after 2017, indicating the increasing consolidation of open innovation in SMEs as a distinct research domain. The literature concentrates on a limited number of influential journals, especially Technovation and Technological Forecasting and Social Change, while a small group of highly cited publications forms the conceptual foundation of the field. Thematic analysis reveals that the field is primarily structured around open innovation, SMEs, performance, research and development, absorptive capacity, and knowledge. Thematic evolution further indicates a shift from foundational concerns related to firm performance, manufacturing, and strategy towards more recent interests in business models, eco-innovation, digitalization, and empirical contextualization.
This paper presents a PRISMA-compliant systematic literature review of the adoption, implementation, and measurable impact of Financial Data Analytics (FDA) in India's Micro, Small, and Medium Enterprises (MSMEs) and Small and Medium Enterprises (SMEs). Drawing on 61 peer-reviewed studies published between 2010 and 2025, identified through searches of Scopus, Web of Science, and Google Scholar, the review synthesises findings across six thematic clusters: adoption drivers, adoption barriers, fintech and AI/ML integration, firm performance effects, regulatory context, and sectoral variation.
The theoretical contribution is an integrated three-stage adoption model sequencing the Technology Acceptance Model and Diffusion of Innovation theory at the initiation stage, UTAUT and the Resource-Based View at the institutionalisation stage, and Dynamic Capabilities Theory at the capability-building stage. This sequencing resolves a persistent problem: the tendency to apply a single framework to a process that evolves significantly as firms mature analytically.
Core findings: perceived usefulness driven by GST reconciliation pain points and affordable cloud delivery is the dominant predictor of initial adoption; the cost of skilled analysts — not software licensing — is the primary barrier to deeper capability development; fintech-enabled ML credit scoring is improving loan access for MSMEs with digital footprints, but field-trial evidence in Indian contexts remains absent; and manufacturing firms in industrial clusters show a 7-14% ROA premium among analytics adopters, though the performance literature is hampered by reverse-causality and non-standardised outcome measures. The Account Aggregator framework and GST data ecosystem represent institutional infrastructure changes that the reviewed literature has barely begun to theorise.
Methodological gaps dominate: cross-sectional surveys, urban sampling bias, and concentration in four Indian states limit generalisability. Future priorities include longitudinal panel studies, AI/ML lending field trials, ESG analytics integration studies, and algorithmic fairness audits of fintech credit models serving MSME populations.
Dinesh Junghare, Sachin Lad· Journal of Intelligent Decis...· 0 citations
Economic literacy has become increasingly strategic amid ongoing digitalization and macroeconomic uncertainty; however, its research landscape has yet to be comprehensively mapped across themes, actors, and publication channels. Method: This study employs a Scopus-based bibliometric analysis (search conducted on September 26, 2025) using the keyword “economic literacy” in titles, abstracts, and keywords. From an initial 287 records, 259 English-language documents (articles, conference papers, and reviews) were selected through relevance and inclusion–exclusion criteria. Data were analyzed using Excel, Publish or Perish, and VOSviewer to map publication trends, affiliations, sources/journals, countries, and keyword networks (co-authorship, co-citation, co-occurrence, and overlay). Results: Publications have risen sharply since 2016, peaking in 2024, with sustained activity in 2025. The Journal of Economic Education emerged as the leading outlet. Prominent affiliations originate from the United States and Europe, with strong contributions from Indonesia (notably Universitas Negeri Malang and Universitas Negeri Jakarta). The main contributing countries include the United States, Germany, Indonesia, Malaysia, and the United Kingdom. The keyword mapping reveals core clusters centered on economic literacy interlinked with financial literacy, economic education, students, and entrepreneurial intention, along with emerging themes such as digital economy, decision making, and sustainable development. Discussion/Conclusion: Economic literacy has evolved from a peripheral topic to a mainstream, increasingly interdisciplinary field. Recommendations include transparent reporting of network parameters, normalization of citation data across years, expansion of terminology and databases, and strengthening of longitudinal or quasi-experimental designs that link literacy outcomes with actual behavioral measures. Keywords: economic literacy; bibliometrics; Scopus; VOSviewer; publication trends; economic education; digital economy.
F. A. Sihaloho, F. A. Triansyah· Journal of Economics Educati...· 0 citations
Education for Sustainable Development (ESD) is increasingly recognized as a fundamental driver for achieving global sustainability, yet a comprehensive, long-term mapping of its intellectual structure is needed to guide future policies. This study aims to delineate the evolutionary trajectory of ESD research from 2000 to 2024, identify the most significant contributors (countries, institutions, journals, and authors), and uncover the prevalent thematic clusters within this domain. A quantitative bibliometric approach was employed. The sample consisted of 2,774 English-language peer-reviewed documents extracted from the Scopus Core Collection, spanning from 2000 to 2024. Performance analysis and science mapping were conducted utilizing RStudio (Biblioshiny) and VOSviewer to evaluate co-authorship networks and thematic co-occurrences. The findings confirmed a continuous, exponential growth in ESD publications post-2015. Germany emerged as the most productive country (12.5% of total publications), though the Universitas Pendidikan Indonesia was identified as the leading institution. Thematic analysis revealed 15 distinct clusters, heavily focusing on higher education, curricula, and teacher training, while also highlighting a significant geographical imbalance wherein developed nations overshadow developing countries in overall research engagement.
Van Vinh Le, T. Tran, Van Nga Tran et al.· TEM Journal· 0 citations
Small and medium-sized enterprises (SMEs) play a central role in employment generation, innovation diffusion, local economic dynamism, and sustainable development. However, research on SME success remains fragmented, often emphasizing isolated determinants rather than integrated explanations. This study maps the scientific landscape of SME success factors from a configurational perspective, considering how strategic orientations, organizational capabilities, implementation practices, and contextual conditions interact to shape business performance.
A bibliometric and science mapping study was conducted using records retrieved from Scopus and Web of Science. The search covered publications indexed between 1985 and 2025 and was conducted on February 4, 2025. After duplicate removal, title and abstract screening, and full-text assessment following PRISMA 2020 guidelines, 935 studies were included in the final corpus. Data were processed and analyzed using R and VOSviewer. The analysis included publication trends, citation patterns, productive journals, highly cited documents, keyword co-occurrence, co-authorship networks, co-citation structures, and bibliographic coupling.
The findings show a progressive consolidation of SME success research, with accelerated growth from 2016 onward. The most influential research streams are centered on entrepreneurial orientation, critical success factors, operational excellence, innovation, digital transformation, sustainability, green innovation, and circular economy practices. The intellectual structure of the field is supported by strategic management, entrepreneurship, innovation, and sustainability literatures. International collaboration patterns reveal an expanding but unevenly distributed research network, with several countries acting as central knowledge hubs.
The evidence suggests that SME success cannot be adequately explained through single-factor or linear approaches. Instead, it should be understood as a multidimensional and contingent phenomenon shaped by configurations of internal capabilities, strategic choices, implementation processes, and external environmental conditions. This study provides an integrated map of the field and offers a foundation for future theoretical development, comparative empirical research, and policy design aimed at strengthening competitive and sustainable SME performance.
Ely Israel Borja-Salinas, R. Robalino-Muñiz, Evelyn Arteaga-Arcentales et al.· Frontiers in Sustainability· 0 citations
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