CULTURE'S INFLUENCE ON INVESTMENT: A BIBLIOMETRIC REVIEW
DOI:
https://doi.org/10.35631/IJEMP.936001Keywords:
Bibliometric, Culture, InvestmentAbstract
Culture is increasingly recognized as a determinant of investment behaviour, yet the literature connecting these two constructs remains fragmented across disciplines, cultural frameworks, and units of analysis, with no bibliometric synthesis clarifying its intellectual structure or growth trajectory. This study addresses that gap through a bibliometric review of culture's influence on investment. Using Scopus's advanced search analyser with the keywords culture and investment, records were retrieved yielding a dataset of 111 documents published between 2004 and 2026; refined through OpenRefine for cleaning and deduplication, and mapped using VOSviewer for co-authorship, keyword co-occurrence, and citation network analysis. Results show a modest but steadily growing publication trend, accelerating sharply after 2022 and peaking at fourteen publications in 2025. Citation analysis identifies a concentrated set of highly cited, cross-national studies, led by a 2013 study linking national culture to corporate investment with 194 citations, supported by a broader tier of substantively cited works across management, finance, psychology, and anthropology. The United States, China, and the United Kingdom emerge as the leading contributors, forming the core of a bifurcated co-authorship network alongside a secondary European–Commonwealth cluster. Keyword co-occurrence analysis reveals two thematic streams: an established stream on firm-level national-culture research, and an emerging stream on regional economic comparisons involving China. Overall, culture and investment research has grown from a relatively niche topic into an increasingly international and multidisciplinary field, although geographical imbalances and limited cross-cluster collaboration remain evident. These findings provide valuable insights into the intellectual structure and development of culture and investment research and highlight opportunities for future studies to examine underexplored cultural contexts, cross-country relationships, and emerging investment themes.
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