Purpose: PBM is emerging as a major management system for securing corporate productivity and enhancing competitiveness, and various studies are being conducted. The purpose of this study is to analyze research trends published in KCI-listed journals and papers since 1999 to understand the current status of research and provide basic data for more extensive research and development of performance management in the future. Research design, data and methodology: A detailed examination of research trends was conducted through the analysis of abstracts from 154 research papers on PBM. To facilitate a comprehensive analysis of these trends, LDA topic modelling was employed. Results: First, it should be noted that research on PBM is not limited to the area of HRM. Instead, PBM research is expanding to encompass comprehensive personnel systems. Second, the results of topic modeling analysis show that although the initial focus of research was on human resource management, there is now a growing interest in fairness and organizational culture in the entire organization. Conclusions: PBM is becoming a dominant paradigm as it shifts from HR systems to organizational fairness and culture. This suggests that future research should consider both quantitative and qualitative aspects of PBM to improve corporate performance while prioritizing organizational fairness and culture.