In present competitive and dynamic environment, financial resources are assumed as a life-blood of public organisations as acknowledged by researchers and academicians. But little attention has been paid to how financial resources are managed – what is known as public financial management (PFM). Thus, the aim of this study is to look at different studies on subject “public financial management” that are made up of distinct research perspectives. In this regard, 67 studies were selected in the systematic and bibliometric review from inception to 2021 around the globe. The outcome of this study indicates that the interest in the subject of public financial management has gained significant growth with the passage of time, particularly after 2018. In addition, most of the studies on PFM are qualitative in nature, rather quantitative and mixed method approaches have been ignored in literature. Furthermore, this article reports some potential gaps and possibilities in the body of literature for future research.

Investors and governments have drawn attention to company governance due to the 2007 financial crash. This study aims to determine the impact of board characteristics, i.e. women on the board, busy directors, blockholder ownership, and director qualification on firm financial performance based on evidence from Pakistan. Former research on the impact of board features on company financial performance is built on contradictory theoretical viewpoints and factual results, which are primarily built on regression and are equivocal. Based on the con- figurational analysis, this study clarifies previously ambiguous findings concerning the link between keyboard attributes and business financial success. This research draws upon theories, including resource dependence and agency theory. The study utilized fuzzy-set qualitative comparative analysis to examine a sample of 60 non-financial companies listed on the Pakistan Stock Exchange (PSX). Data referred to the pre-crisis period. Findings have shown that different combinations of board attributes can significantly impact a firm profitability, i.e. return on assets (ROA) and return on equity (ROE). Practical implications spotlight the policymakers need to evaluate corporations current level of regulatory and competitive development to plan strategy accordingly. It emphasises unique governance solutions for the non-financial sector.