Blue Economy and Corporate Value Creation: A Bibliometric Analysis of Global Research Trends
DOI:
https://doi.org/10.54518/rh.5.6.2025.905Keywords:
Bibliometric, Blue Economy, Economic Performance, Firm ValueAbstract
The blue economy has emerged as a key strategy for sustainable development. This study employs a bibliometric approach to analyze the development and research trends of the blue economy, specifically its relationship with economic performance and firm value. Conceptualized as a sustainable development strategy, the blue economy integrates economic, social, and environmental dimensions centered on marine and coastal resources. Data from the Scopus database (2010-2025) was analyzed using VOSviewer software to map collaboration networks and thematic evolution. The results reveal a substantial increase in publications since 2016, peaking in 2024, highlighting the topic’s growing global relevance. China is the dominant contributor, led by institutions like the Ocean University of China and the Ministry of Natural Resources, followed by universities from the UK, the Netherlands, Australia, and Canada. The analysis identified three primary research clusters, sustainability, marine aspects, and economic and social sectors within the blue economy. The study confirms the blue economy’s significant contribution to economic growth, resource efficiency, and social welfare. However, its success is contingent upon effective governance, technological innovation, and strong integration between the public and private sectors, outlining critical areas for future development and policy focus.
Downloads
References
Albasri, H., Thesiana, L., Rahmania, R., Pratama, I., Puspasari, R., Rasidi, R., ... & Sammut, J. (2023). Microplastics in coastal aquaculture systems: development of regulatory frameworks, practices and mitigation efforts in APEC Economies. Research Horizon, 4(2), 78-89.
Ansah, J. W., & Oduro, G. Y. (2025). Blue economy risks and challenges in Ghana: a systematic literature review. Frontiers in Marine Science, 12(1), 160-170.
Bennett, M., March, A., & Failler, P. (2024). Blue economy financing solutions for the fisheries and aquaculture sectors of Caribbean Island States. Fishes, 9(8), 305-397.
Benzaken, D., Adam, J. P., Virdin, J., & Voyer, M. (2024). From concept to practice: Financing sustainable blue economy in Small Island Developing States, lessons learnt from the Seychelles experience. Marine Policy, 163(2), 106-112.
Campbell, L. M., Fairbanks, L., Murray, G., Stoll, J. S., & Silver, J. J. (2021). From blue economy to blue communities: Rethinking the ocean economy for equity and sustainability. Marine Policy, 133(2), 104-109.
Chen, W., Chen, H., Yin, J., & Sun, W. (2025). Evaluation of agricultural products e-commerce logistics service capabilities in Heilongjiang Province based on entropy weight TOPSIS method. PloS one, 20(6), 325-335.
Clube, R. K. M., & Tennant, M. (2020). Evaluating human-scale development in the circular and blue economy concepts. Journal of Cleaner Production, 255(5), 120-129.
Das, J. (2023). Blue economy, blue growth, social equity and small-scale fisheries: a global and national level review. Studies in Social Science Research, 4(1), 38-82.
Du, Y. W., & Gao, K. (2020). Ecological security evaluation of marine ranching with AHP-entropy-based TOPSIS: A case study of Yantai, China. Marine Policy, 122(1), 104-123.
Elston, J., Pinto, H., & Nogueira, C. (2024). Tides of change for a sustainable blue economy: a systematic literature review of innovation in maritime activities. Sustainability, 16(24), 11-14.
Karani, P., & Failler, P. (2020). The African blue economy: A policy handbook. Marine Policy, 115(6), 103-107.
Karuppiah, K., Garza-Reyes, J. A., & Virmani, N. (2025). Pathways to a sustainable blue economy: Exploring its barriers in an emerging economy. Business Strategy and the Environment, 7(5), 341-349.
Khan, T., & Emon, M. H. (2024). Exploring the potential of the blue economy: a systematic review of strategies for enhancing international business in Bangladesh in the context of Indo-Pacific Region. Review of Business and Economics Studies, 12(2), 55-73.
Liza, J. I., Majumder, S. C., & Rahman, M. H. (2024). Scrutinizing the impact of blue economy factors on economic growth in Bangladesh: An empirical study. Marine Policy, 173(5), 1065-1072.
March, A., Evans, T., Laing, S., & Raguain, J. (2024). Evaluating the world’s first sovereign blue bond: Lessons for operationalising blue finance. Commodities, 3(2), 151-167.
Martínez-Vázquez, R. M., Milán-García, J., & de Pablo Valenciano, J. (2021). Challenges of the blue economy: Evidence and research trends. Environmental Sciences Europe, 33(1), 61-66.
Maskaeva, A., Failler, P., Cowaloosur, H., Lallemand, P., & Mang’ena, J. (2023). Assessment of socioeconomic and ecosystem services of the blue economy in Tanzania using the UNECA’s Blue Economy Valuation Toolkit. Marine Policy, 159(7), 105-110.
McIlgorm, A., Campbell, H. F., & Rule, M. J. (2022). The economic cost of marine debris to marine industries: Case studies from the Asia-Pacific region. Marine Policy, 137(5), 104-109.
Midlen, A. (2024). Enacting the blue economy in the Western Indian Ocean: A ‘collaborative blue economy governmentality’. Environment and Planning E: Nature and Space, 7(2), 627-653.
Mogila, Z., Ciołek, D., Torój, A., & Zaucha, J. (2024). How important is the blue economy for regional development? – The case of Poland. Marine Policy, 168(3), 1063-1073.
Nurahman, D., Majid, M. A., & Hersugondo, H. (2024). ESG disclosure’s positive impact on financial performance in Indonesia’s Growth. Research Horizon, 4(6), 25–34.
Pace, L. A., Saritas, O., & Deidun, A. (2023). Exploring future research and innovation directions for a sustainable blue economy. Marine Policy, 148(2), 105-118.
Sabri, M., Putra, H. D., & Sukma, D. (2024, February). Unlocking the potential of water tourism: pioneering the ideal concept for a blue economy in Wonosari Village. In International Conference on Applied Science and Technology on Social Science 2023 (iCAST-SS 2023) (pp. 164-168). Atlantis Press.
Sarwar, S. (2022). Energy intensity, green economy, and blue economy for sustainable economic growth: Evidence from GCC countries under Saudi Vision 2030. Renewable and Sustainable Energy Reviews, 167(3), 127-134.
Stephenson, R. L., & Hobday, A. J. (2024). Blueprint for blue economy implementation. Marine Policy, 163(3), 105-109.
Sun, J., Zhai, N., Miao, J., Mu, H., & Li, W. (2023). How do heterogeneous environmental regulations affect the sustainable development of marine green economy? Empirical evidence from China’s coastal areas. Ocean & Coastal Management, 232(4), 106-108.
Tian, B., Zhou, Y., Wu, W., & Ding, X. (2016). Monitoring the reclamation of coastal areas in China using Landsat imagery. Ocean & Coastal Management, 123(5), 1–12.
Trégarot, E., Touron-Gardic, G., Cornet, C. C., & Failler, P. (2020). Valuation of coastal ecosystem services in the Large Marine Ecosystems of Africa. Environmental Development, 36 (2), 100-114.
Veríssimo, N. V., Mussagy, C. U., Oshiro, A. A., Mendonça, C. M. N., de Carvalho Santos-Ebinuma, V., Pessoa, A., ... & Pereira, J. F. B. (2021). From green to blue economy: Marine biorefineries for a sustainable ocean-based economy. Green Chemistry, 23(23), 9377-9400.
Xu, N., Wang, Y., Huang, C., Jiang, S., Jia, M., & Ma, Y. (2022). Monitoring coastal reclamation changes across Jiangsu Province during 1984–2019 using landsat data. Marine Policy, 136(3), 874-887.
Yaser, M. Z., Sagena, U. W., Aftah, C. (2024). Nusantara nature conservation foundation’s efforts to mitigate the impact of global warming through mangrove forest conservation in Berau in 2018-2022. Research Horizon, 4(1), 1-14.
Downloads
Published
How to Cite
Issue
Section
Categories
License
Copyright (c) 2025 Author(s)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
