Green accounting and firm performance: PRISMA review

Abstract

The growing global emphasis on sustainability and corporate accountability has positioned green accounting as a crucial mechanism for integrating environmental considerations into business operations. This study aims to systematically synthesize empirical evidence on the relationship between green accounting and firm performance using the PRISMA 2020 framework combined with bibliometric analysis. Data were collected from two major academic databases, Scopus and Web of Science, covering publications from 1999 to 2025. A total of 407 peer-reviewed studies were selected through a multistage screening process following the PRISMA protocol. The bibliometric analysis, conducted using the Bibliometrix R-package and VOSviewer, reveals a strong global interest in this research area, with Asia - particularly China - emerging as the leading contributor. Core publication sources include Journal of Cleaner Production, Business Strategy and the Environment, and Sustainability. The findings indicate that green accounting plays a significant role in linking financial accountability with environmental stewardship, helping firms achieve operational efficiency, cost savings, and improved stakeholder trust. While most studies confirm a positive association between green accounting and firm performance, results varied across industries, regions, and regulatory contexts, suggesting the influence of mediating factors such as governance quality, environmental regulation, and stakeholder engagement. This review contributes to the academic discourse by mapping the intellectual structure of the field and identifying emerging themes such as ESG integration, carbon disclosure, and sustainable finance. The study underscores that green accounting should be understood not merely as a reporting instrument but as a strategic management framework for achieving sustainable competitiveness. The findings provide valuable implications for scholars, policymakers, and practitioners seeking to strengthen the link between environmental responsibility and long-term corporate performance.