Visualization of global research trends and future research directions of financial performance in higher education sector using bibliometric analysis

Abstract

PurposeThe purpose of this research is to undertake a bibliometric analysis of financial performance research in of higher education sector. The study examines papers over the last 2 decades and performed performance analysis, co-citation analysis, bibliographic coupling and scientific mapping.Design/methodology/approachThe study examines 616 documents retrieved from the Scopus database using bibliometric analysis, performance analysis and thematic clustering. The study looked at the scientific productivity of papers, prolific authors, most influencing papers, institutions and nations, keyword cooccurrence, thematic mapping, co-citations and authorship and country collaborations. VOS viewer was employed as a tool in the research to conduct the performance analysis and thematic clustering.FindingsThis study delves into the recent advancements in financial performance research within higher education, focusing particularly on the year 2023, characterized by a peak of productivity with 46 significant articles. Notable institutions contributing substantially to this discourse include the University of Sussex (UK), and Ratio Institute Stockholm (Sweden), each referenced 227 times. The United Kingdom has emerged as a leader in financial performance research, amassing 3,850 citations from 92 publications. Key journals driving this conversation include “Entrepreneurship: Theory and Practice” and “The British Journal of Political Science.” The most cited study examines the impact of business-university partnerships on innovation and financial outcomes.”Originality/valueThis is the first study that provides a performance analysis and scientific mapping of the financial performance literature in the higher education sector. In addition, this study is the initial one to do a thorough analysis and organized representation of financial performance in the higher education sector, providing an unparalleled understanding of a hitherto uninvestigated area of academic research.