Use of structural equation modeling in quantitative research in the field of management and economics: A bibliometric analysis in the systematic literature review

Abstract

PURPOSE: This paper aims to provide a comprehensive review of scholarly research focusing on using quantitative methods and particularly structural equation modeling (SEM) in management and economics studies, as well as provide a bibliometric agenda including the time horizon of individual publications, the highest citation rate, geographic and industry areas, methodological context, and keywords. METHODOLOGY: A systematic literature review (SLR) was undertaken using the Web of Science and Scopus databases. We limited our search to the last five years to identify the newest research publications, and we used keywords related to quantitative research while excluding qualitative research. Then we analyzed papers related to SEM and those published in English. FINDINGS: Our results confirmed that quantitative methods are used both in management and economics research, and showed a growing trend in the number of publications in the last five years. However, there are many more publications on management than on economics as well as there are more papers published in the Scopus database than Web of Science. Taking into account structural equation modeling, this method is used primarily in management research. In terms of industry, publications using SEM considered both single- and multi-industry including, first, all Asian countries and then African ones. Publications, especially in the management field, are descriptive in nature and based on primary data collected using a survey questionnaire. Papers are published in various journals and the most cited are those published in journals with wider subject areas. IMPLICATIONS: The systematic literature review is a fundamental necessity in any field of knowledge, benefiting both academia and learners. Our results may be useful for future researchers planning research using quantitative methods, especially SEM, in the business or economic field, by indicating the most cited papers and journals as well as industry and country areas. ORIGINALITY AND VALUE: This paper represents a systematic attempt to link quantitative methods, with a particular emphasis on SEM, with research interests on managerial and economic subjects and papers published in the Web of Science and Scopus databases. Employing the bibliometric analysis within the systematic literature review, the paper shows interest and the current state of research using quantitative methods which proves its value and originality.