Title: Capital structure and firms' value: future research agenda and research stream through bibliometric approach

Authors: Chandrika Prasad Das; Rabindra Kumar Swain; Manoj Kumar Dash; Suman Bindu

Addresses: P.G. Department of Commerce, Utkal University, Bhubaneswar, Odisha-751004, India ' P.G. Department of Commerce, Utkal University, Bhubaneswar, Odisha-751004, India ' Department of Business Administration, Atal Bihari Vajpayee Indian Institute of Information Technology and Management, Gwalior-474015, India ' Department of Commerce, Rajendra Autonomous College, Balangir, Odisha-767002, India

Abstract: This paper aims to present a synopsis of the academic research on capital structure and firm value using bibliometric analysis. The paper also attempts to detect the most traceable publications and authors in this domain. VOS viewer and bibliometrics R-package has been used to notice the publication trend and envision authors/countries/journals/institutions' performance on a sample of 286 relevant articles retrieved from the Scopus database between 1983 and 2020. The essential aspects of capital structure and firm value are identified, such as recent publications, the most influential researcher, the most cited articles, the top contributing journals, the top countries based on total citations and corresponding author, cluster analysis, treemap analysis, and Sankey diagram. The paper makes a vital contribution to corporate finance through a systematic literature review on capital structure and firm value. This article also depicts the future research agenda and research stream in capital structure.

Keywords: capital structure; bibliometric analysis; network analysis; VOS viewer; bibliometrics R-package; Sankey diagram.

DOI: 10.1504/IJBEX.2025.144842

International Journal of Business Excellence, 2025 Vol.35 No.2, pp.161 - 191

Received: 25 May 2021
Accepted: 17 Jun 2021
Published online: 05 Mar 2025 *

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