Abstract: It has been discovered that firm performance was influenced or affected by so many factors or variables either positively or negatively. The objective of this paper is to review empirical literatures on the determinants influencing firm performance in developing countries. This study reviews almost fifty article from different academic journals, and it discovered different variables or factors that influences or affects firm performance in developing countries. Most of the empirical studies reviewed make used of Ordinary Least Square (OLS) as the method of data analysis, and majority of the studies does not states their sample size, method of data collection, and the theory or theories that support and give direction to their studies. The finding of the articles reviewed varies some are with positive or negative results while others are with both positive and negative results. This study suggests that future researchers should make use of variables that serves as the determinants of firm performance in developing countries. The methodology should be clearly stated in term of sample size, and method of data collection. Structural equation modeling (SEM) that serves as method of data analysis is suggested which was known as the second generation method because base on the literatures reviewed it shows that regression analysis was the most used method. Finally, theory or theories should also be used by future researchers in order to support their study and at the same time it give suitable direction and meaning to a study. This study serves as a guide for further studies especially in developing countries.