Mapping the sustainability-working capital management nexus: a bibliometric review

The integration of sustainability into working capital management (WCM) has attracted scholarly attention, as firms seek to balance corporate responsibility with liquidity and operational efficiency. This study reviews the existing literature to delineate the conceptual development at this intersection. Following the PRISMA guidelines, 106 Scopus-indexed articles were analysed using performance analysis and science mapping techniques to identify leading authors, sources, countries, and research trends in this field. The findings revealed that research around this area has increased in recent years, with publications actively rising in 2024 and predominantly focused on emerging markets, particularly India, China, and Malaysia. The analysis further identifies three main clusters: operational efficiency and growth; governance mechanisms and working capital practices; and sustainability and responsible financial management. The review also reveals key gaps in the literature, including limited evidence from developed economies, a lack of industry- specific analyses, and underexplored governance and assurance mechanisms. Overall, the study provides a structured overview of this field, develops integrated conceptual framework, and outlines future research agenda on how sustainability practices shape working capital efficiency, liquidity, and risk under economic uncertainty. This study offers a pioneering effort to conduct a comprehensive analysis focusing on the sustainable-WCM nexus.