["Business Strategy and the Environment, EarlyView. ", "\nABSTRACT\nEnvironmental regulation is often seen as a trade‐off between compliance costs and competitiveness. The Porter hypothesis (PH) challenges this view, proposing that well‐designed regulation can stimulate innovation and enhance firm performance. This study presents a comprehensive bibliometric and content analysis of 1035 PH publications from the Web of Science, covering the period 1993–2025. It offers the first systematic mapping of the field's intellectual structure, thematic evolution, and empirical evidence. Findings reveal rapid recent growth, with over 82% of studies published in the last 7 years. The research network is increasingly collaborative and global. Science mapping identifies four key clusters: firm‐level competitiveness, macroeconomic policy dynamics, empirical mechanisms, and innovation–policy linkages. Evidence consistently supports the weak and narrow forms of the Porter hypothesis, while validation of the strong form remains context‐dependent. Over time, research has shifted from early debates on regulatory costs to a focus on green innovation, productivity, and sustainable competitiveness. The results suggest that flexible, market‐based regulations are most effective in generating innovation‐driven win–win outcomes. These insights are relevant for managers and policymakers aiming to align environmental strategy with competitive advantage.\n"]