This study aims to evaluate the application of the Pecking Order Theory in corporate finance through the analysis of articles indexed in Scopus over the past decade. The study was conducted using the Systematic Literature Review (SLR) method, covering articles from 2014 to 2024. The findings show that 64% of the research focuses on capital structure, which underscores the relevance of this theory in understanding companies' preferences for financing sources. Additionally, 25% of the articles discuss its application in corporate finance, while its contribution to the fields of social and management is relatively limited, reaching only 8% and 3%, respectively. The publication trend shows spikes in certain years, particularly 2016, 2021, and 2022, each with two articles published. This research suggests the development of studies in less explored areas and the integration of this theory with modern financial technology innovations, in order to expand its relevance in the digital era. This study makes an important contribution to understanding the dynamics of the Pecking Order theory in the context of corporate finance and its future development direction.