A Decade of research on intellectual capital and SMES performance in the ASEAN region: a bibliometric analysis of its impact

Musliha Musman (), Salwa Muda (), Amariah Hanum Hussin (), Norhidayah Ismail (), Raziah Bi Mohamed Sadique () and Syaiful Hisyam Saleh ()
Additional contact information
Musliha Musman: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
Salwa Muda: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
Amariah Hanum Hussin: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
Norhidayah Ismail: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
Raziah Bi Mohamed Sadique: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban
Syaiful Hisyam Saleh: Universiti Teknologi MARA Cawangan Negeri Sembilan Kampus Seremban

Future Business Journal, 2025, vol. 11, issue 1, 1-20

Abstract: Abstract Intellectual capital (IC) plays a crucial role in enhancing innovation and sustainability across various organizational scales, including small and medium-sized enterprises (SMEs). Recognizing the central role of SMEs in driving economic growth within ASEAN countries, this study uses bibliometric analysis to examine the research trends and patterns concerning IC and SMEs development over the period from 2015 to 2024. By examining 481 articles and conference papers from the Web of Science (WoS) that satisfy the inclusion criteria, this study employed descriptive statistics, top local cited authors, and keyword co-occurrence to identify key bibliometric indicators, themes, and trends. The findings reveal a significant rise in IC publications across ASEAN countries, with Malaysia, Indonesia, and Vietnam standing out as key contributors. These efforts have played a vital role in enhancing the productivity, competitiveness, and sustainability of SMEs, thereby contributing to the region’s overall economic development. Influential authors like Valaei N and Ahmad NH have played a key role in shaping the field, while the Journal of Cleaner Production and the Journal of Business Research stand out as the most frequently cited journals in this domain. Core themes like governance, productivity, and investment are essential to IC and SMEs performance, with governance improving decision-making and financial stability through human capital and knowledge management, productivity supporting sustainability through operational efficiency and workforce performance, and the use of IC and technology enhancing competitiveness and long-term growth. Thematic evolution analysis reveals a shift in IC research from foundational concepts to specialized, impact-driven studies, initially focused on human, structural, and relational capital, and later expanding into innovation, digital transformation, and competitive advantage. Recent studies focus on integrating sustainability, policy frameworks, and strategic decision-making with practical applications, while this study offers a comprehensive overview of IC research in ASEAN SMEs. It supports policymakers, business leaders, and researchers in shaping policies, investment strategies, and business models to enhance SME competitiveness, while highlighting IC’s role in driving innovation, sustainability, and long-term success through knowledge management, digital transformation, and governance.

Keywords: Intellectual capital; Performance; SMEs; Bibliometrics analysis; Strategic management (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1186/s43093-025-00614-7 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:futbus:v:11:y:2025:i:1:d:10.1186_s43093-025-00614-7

Ordering information: This journal article can be ordered from
https://fbj.springeropen.com/

DOI: 10.1186/s43093-025-00614-7

Access Statistics for this article

Future Business Journal is currently edited by Soad Kamel Rizk and Hayam Wahba

More articles in Future Business Journal from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().