Borsa Istanbul Review

Article	Citations
Corporate environmental, social, and governance activities and financial reporting quality: An international investigation	380
Do manager networks affect the efficiency of capital markets? Empirical research based on social network theory	247
Do psychological factors exert greater influence on investment decisions than physiological factors? Evidence from Borsa Istanbul	209
Trading halts and the advantage of institutional investors: Historical evidence from Borsa Istanbul	150
If Money Talks: Climate change-related regulation and firms’ cost of debt	108
Editorial Board	104
Does cross-listing on the Hong Kong stock exchange affect Chinese firms’ green innovation? New evidence	103
Can common institutional ownership constrain the equity pledges of controlling shareholders? Evidence from Chinese listed companies	94
Threshold effects of institutional quality on the financial inclusion and stability nexus: International evidence	88
Evolving roles of energy futures markets: A survey	80
Dynamic dependence between sectoral indexes of BRIC countries and the baltic dirty tanker index: An investigation using the generalized R2 approach	72
When to bet against beta? Ask Google	72
Is ESG investing an ‘equity vaccine’ in times of crisis? Evidence from the 2020 Wuhan Lockdown and the 2022 Shanghai Lockdown	71
Links between US and Turkish agricultural commodity Markets: Nonlinear dependence and tail risk	70
Frequency connectedness and spillovers among oil and Islamic sector stock markets: Portfolio hedging implications	66
Testing mispricing-augmented factor models in an emerging market: A quest for parsimony	64
Does information communication promote financial development? Empirical evidence from China	62
A Pandemic's grip: Volatility spillovers in Asia-Pacific equity markets during the onset of Covid-19	56
An agent-based model of financial market efficiency dynamics	54
Does institutional investor cross holding create synergy? Evidence from the cost of equity	52
The effect of the internal control regulation on reporting quality in China	49
Confucian culture and informal household financing: Evidence from China's counties	46
The effects of chief executive officer gender on firm labor investment efficiency	45
What does currency order flow tell about spot exchange rates of Asian emerging markets?	42
Sweetness by the pound: Sugar and currency correlations in pre-Brexit UK prices	41

Do financial inclusion and income inequality matter for human capital? Evidence from sub-Saharan economies	41
Green leading institutions and corporate green innovation: Legitimacy or efficiency?	40
Does promoter holding affect financed payout of dividends?	40
The necessity of financial inclusion for enhancing the economic impacts of remittances	39
Do market differences matter on dividend policy?	38
Commodity market dynamics: Who's behind booms and busts?	38
Influences of Taiwan's corporate social responsibility report management policy on the information transparency of its capital market	38
Is excess of everything bad? Ramifications of excess liquidity on bank stability: Evidence from the dual banking system	36
Does the trading volume of asset management companies’ bonds contain information on non-performing loans?	33
Oil and GCC foreign exchange forward markets: A wavelet analysis	33
Oil hedging with a multivariate semiparametric value-at-risk portfolio	32
The GCC's regional roller coaster: Do regional factors affect stock market dynamics in the GCC Region? Evidence from non-parametric quantile regression	31
The impact of religious announcements on stock prices and investment decisions on the Saudi stock exchange	31
Asymmetric volatility connectedness among main international stock markets: A high frequency analysis	31
What do we know about the relationship between banks’ risk measures and social-environmental sustainability transparency?	30
Food insecurity and sovereignty threat to uncontrolled price spillover effects in financialized agricultural products: The red meat case in Turkiye	30
Turkish IPOs in a changing regulatory and economic environment	29
Shareholding control, ownership concentration, and the value of the Brazilian firm	26
Information diffusion, trading speed and their potential impact on price efficiency – Literature review	26
Cross-border sovereign risk transmission in BRICIT Nations: Unveiling asymmetries and the role of country risk premiums	26
Contribution to the measurement of digital financial inclusion in Sub-Saharan Africa	25
Heterogeneity and nonlinearity in the relationship between rediscount credits and firm exports	25
Relationship between monetary policy and financial asset returns in Türkiye: Time, frequency, and quantile-based effects	24
Do industries lead the stock market? Evidence from an emerging stock market	24
Underpricing and aftermarket performance of IPOs during the Covid-19 period: Evidence from Istanbul stock exchange	24
From diversity to sustainability: How board meeting frequency, financial performance and foreign members enhance the board gender diversity – ESG performance link	24
Do subsidized export credits affect firms’ behavior in the FX market? Micro evidence from Türkiye	24
A retrospective evaluation of Borsa Istanbul review using a machine learning data analytical approach	23
Does environmental concern drive financial assets? Evidence from China	23
Steadfast in crisis: Can Islamic finance enhance Cameroonian SMEs’ resilience strategies against the COVID-19 pandemic and the Russia/Ukraine war?	22
The impact of personality, behavior, and geography on participation in the private pension system in Türkiye: A machine learning approach	22
Does the islamic label indicate good environmental, social, and governance (ESG) performance? Evidence from sharia-compliant firms in Indonesia and Malaysia	21
The value relevance of risk-related disclosure: Does the tone of disclosure matter?	21
Toward greater stability in stablecoins: Empirical evidence from an analysis of precious metals	21
Geopolitical risks and the energy-stock market nexus: Evidence from Turkiye	21
Examining the relationship between digital finance and financial inclusion: Evidence from MENA countries	20
ESG activities and financial stability: The case of Korean financial firms	20
Socially responsible engagement and firm performance in emerging markets: Testing the mediating effect of intellectual capital	20
The impact of non-performing loan sales on the stock market: The role of corporate governance in an emerging market	20
Quantile-based extended joint connectedness between trade policy uncertainty and GCC Islamic stock sectoral volatility	20
The impact of technology export regulations on corporate R&D investments	19
Dimensions of global financial inclusion and their impact on the achievement of the United Nations Development Goals	19
From Brown to green: Exploring asymmetric nexus between green finance and carbon footprint in BRICS+6 alliance	19
Hedging Bitcoin with conventional assets	19
Derivatives holdings and bank systemic risk: Cross-country evidence	19
The role of corporate governance in the nexus between litigation risk and corporate innovation	18
Does intellectual capital efficiency explain corporate social responsibility engagement-firm performance relationship? Evidence from environmental, social and governance performance of US listed firms	18
Blockchain mania: A perspective on corporate executive opportunism	18
Reverse technological spillovers from outward FDI on home countries’ total factor productivity: Does the mode of investment matter?	17
The impact of the global financial crisis on corporate cash holdings: Evidence from Eastern European countries	17

ESG performance and organizational resilience ——based on an “extreme heat event”	17
A new multivariate approach for assessing corporate financial risk using balance sheets	17
Firm climate change risk and financial flexibility: Drivers of ESG performance and firm value	17
ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe	17
Return and risk spillovers between the ESG global index and stock markets: Evidence from time and frequency analysis	16
ESG performance, institutional investors’ preference and financing constraints: Empirical evidence from China	16
Generational theory of behavioral biases in investment behavior	16
How does environmental, social, and governance (ESG) performance determine investment mix? New empirical evidence from BRICS	16
The impact of ESG controversies on the financial performance of firms: An analysis of industry and country clusters	16
Does an Islamic-SRI portfolio really matter? Empirical application of valuation models in Indonesia	16
Financial literacy among Chinese rural households and its impact on stock-market participation	15
The role of financial and trade globalization in enhancing environmental sustainability: Evaluating the effectiveness of carbon taxation and renewable energy in EU member countries	15
Asset allocation models for big tech stocks: The importance of lower partial moments and short length windows	15
Price prediction of the Borsa Istanbul banks index with traditional methods and artificial neural networks	15
Towards sustainable financing models: A proof-of-concept for a waqf-based alternative financing model for renewable energy investments	15
Investor psychology in the stock market: An empirical study of the impact of overconfidence on firm valuation	15
Idiosyncratic risk puzzle and its pricing: Do firm characteristics matter? Evidence of BRICS countries	14
Shadow banking Regulation and the stock price synchronicity --A quasi-natural experiment based on China's new asset management regulation	14
The impact of non-financial disclosure on labor investment: International evidence	14
A novel distance-based moving average model for improvement in the predictive accuracy of financial time series	14
Does financial liberalization spur economic growth? A meta-analysis	14
Short selling and trade credit: New evidence	14
What drives US stock markets during the COVID-19 pandemic? A global sensitivity analysis	13
Tax expense surprise and emerging markets equity returns	13
Access to an educated workforce and the performance of private firms during the COVID-19 pandemic	13
The agency cost of investing in ethical funds: A style analysis approach	13
Democracy and corporate R&D investment	12
The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level	12
Factors affecting the credibility of islamic banking Sharī’ah approvals: Perception-based empirical study	12
Correlated information consumption and comovement in the stock market	12
International financial integration: Too much?	11
Bank contribution to financial sector systemic risk and expected returns: Evidence from large U.S. banks	11
Asymmetric TVP-VAR connectedness between highly traded commodities and hedging strategies: Evidence from major contagions	11
Antigambling interventions and corporate financialization: Evidence from China	11
Exploring the Gaussian investor sentiment process	11
Financial risk tolerance and its determinants: The perspective of personnel from security services in Ghana	11
Testing asset pricing models with individual stocks: An instrumental variables approach	11
CDS risk premia forecasting with multi-featured deep RNNs: An application on BR[I]CS countries	11
Effect of air quality on corporate environmental disclosure: The moderating role of institutional investors	11
Cultural proximity, venture capital and firm performance	11
Common institutional ownership and investment efficiency: Empirical evidence from China	11
Market- and future-level sentiment and futures returns in Chinese agricultural futures markets	11
Determinants of ICO success and post-ICO performance	11
Interplay of crises: Unpacking intraday spillovers in oil and European equities in the shadow of the COVID-19 and the Ukraine-Russia war	10
The capital maintenance regime matters for creditors	10
Performance assessment of participation banks based on Maqasid al-Shari'ah framework: Evidence from Türkiye	10
Analysis of the response of exchange rates to specific FOMC announcements using high-frequency data	10
Connected but fragile: Fund-to-fund holdings and redemptions	10
Asset securitization and bank stock price performance: Bubble increase or risk transfer?	10
Russian Currency's external shocks and domestic policy effectiveness amid geopolitical tensions	10
Multiple directorships and dividends in Spanish listed firms	9
Order imbalance and commonality: Evidence from the options market	9
Assessing the influence of climate risk, carbon allowances, and technological factors on the ESG market in the European union	9
Corporate growth – Trade credit relationship: Evidence from a panel of countries	9
A feasible approach to projecting household demand for the digital ruble in Russia	9
The impact of control structures on firm value	9
From bytes to sustainability: Asymmetric nexus between industrial artificial intelligence and green finance in advanced industrial AI nations	9
Investigating the volatility spillover effect between derivative markets and spot markets via the wavelets: The case of Borsa İstanbul	9
The domino effect of silicon valley Bank's bankruptcy and the role of FED's monetary policy	8
Editorial Board	8
Impact of geopolitical risk on firm financial fragility: International evidence from listed companies	8
Blind following in the boardroom: Evidence of overconfidence contagion in Chinese listed companies	8
A sentiment-based financial stress index for Russia	8
Editorial Board	8
Does innovation in environmental, social, and governance disclosures pay off in China? An integrated reporting perspective	8
Stock price prediction using the Sand Cat Swarm Optimization and an improved deep Long Short Term Memory network	8
The crisis resilience of optimal participation portfolios: A comparison with conventional counterparts on Borsa Istanbul	8
Firm Size and Financing Behavior during COVID-19 Pandemic: Evidence from SMEs in Istanbul	8
How investor attention affects stock returns? Some international evidence	8
The determinants of financial risk tolerance and portfolio allocation: Have the Covid-19 pandemic and the Ukraine war affected our risk tolerance?	8
Can Islamic finance enhance the innovation capacity of Cameroonian SMEs? Empirical evidence based on a multivariate probit approach	8
Does financial development matter for economic growth in the emerging markets?	8
US political sanctions and earnings management	8
China's trilemma: Exchange rate marketization, RMB internationalization, and exchange rate pricing power	7
Does green finance really deliver what is expected? An empirical perspective	7
Does a search attention index explain portfolio returns in India?	7
Do analysts pay attention to managerial sentiment? Evidence from analysts' following decisions and earnings forecasts	7
Impact of investor sentiment on firm innovation: Evidence from textual analysis	7
International issuance of Sukuk and companies' systematic risk: An empirical study	7
The nexus between asymmetric financial inclusion and economic growth: Evidence from the top 10 financially inclusive economies	7

Do non-profit minority institutional shareholders influence cash dividends? Empirical evidence from quasi-natural experiments in China	7
Confluence of COVID-19 and the Russia-Ukraine conflict: Effects on agricultural commodity prices and food security	7
Sovereign risk mispricing and investor herding: MENA debt markets	7
Diversity and risk taking in Islamic banks: Does public listing matter?	7
Product market competition and financial analysts' forecast quality: The mediating role of financial reporting quality	7
Impact of air pollution on corporate investment: New empirical evidence from BRICS	7
Digital financial inclusion and sustainable employment: Evidence from countries along the belt and road	7
Quantile connectedness between VIX and global stock markets	7
Sustainability performance and board compensation in Japan and ASEAN-5 countries	7
The effects of short selling on price discovery: A study for Borsa Istanbul	7
Can digital finance promote urban innovation? Evidence from China	7
How does corporate social performance affect investment inefficiency? An empirical study of China market	7
Green finance and green transition by enterprises: An exploration of market-oriented governance mechanisms	7
The role of audit quality in the ESG-corporate financial performance nexus: Empirical evidence from Western European companies	7
What are the effects of financial stress on economic activity and government debt? An empirical examination in an emerging economy	7
A new model for screening Shariah-compliant firms	7
On the quadratic variation in limit order markets	6
Spillovers between Twitter Uncertainty Indexes and sector indexes: Evidence from the US	6
Intrinsically irreconcilable: The case against running musharakah as employed by Islamic banks	6
Does green innovation promote trade credit activities? New empirical evidence from BRICS	6
Guest Editors’ introduction: Borsa Istanbul history (1836–2023) and an overview of selected papers on the 150th anniversary of the founding of Borsa Istanbul	6
A proposal for measuring efficiency losses of asset management companies: Frontier-based approach	6
Editorial Board	6
The efficiency of the new reference rate in Türkiye	6
Hedging Dow Jones Islamic and conventional emerging market indices with CDS, oil, gold and the VSTOXX: A comparison between DCC, ADCC and GO-GARCH models	6
Idiosyncratic risk and market volatility: Threat or opportunity for returns? A study of Borsa Istanbul stocks	6
Constructing an index for participation finance	6
Value drivers of startup valuation from venture capital equity-based investing: A global analysis with a focus on technological factors	6
Does ESG performance indicate corporate economic sustainability? Evidence based on the sustainable growth rate	6
Digital financial inclusion in the context of financial development: Environmental destruction or the driving force for technological advancement	6
Investor sentiment, corporate social responsibility, and financial performance: Evidence from Japanese companies	5
Beyond polarity: How ESG sentiment influences idiosyncratic volatility in the Turkish stock market	5
Does ownership concentration affect corporate environmental responsibility engagement? The mediating role of corporate leverage	5
Can financial sector distress be detected early?	5
Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia	5
Finance for a Greener future: Evolving the financial sector for ESG and sustainable corporate debt management	5
Investors' personal characteristics and trading decisions under distressed market conditions	5
Term premium in Turkish lira interest rates: The role of foreign investors’ share	5
Establishing yourself with faith: Confucian culture and corporate commercial credit	5
COVID-19 and connectedness between Sustainable and Islamic equity markets	5
Institutional shareholding and the dividend payout policy of Islamic mutual funds: Evidence from international Islamic funds industry	5
Do private placements exacerbate the degree of asset mispricing? A study based on theories of information asymmetry and signaling	5
The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector	5
From global tensions to regional integration: An analysis of bond market convergence in East Asia	5
Multidimensional connectedness among the fourth industrial revolution assets	5
What determines the success of equity derivatives markets? A global perspective	5
Testing the validity of purchasing power parity in alternative markets: Evidence from the fourier quantile unit root test	5
More than just sentiment: Using social, cognitive, and behavioral information of social media to predict stock markets with artificial intelligence and big data	5
Do firms increase ESG activities during periods of geopolitical risk? Evidence from Korean business groups	4
Air pollution, bid price bias, and IPO underpricing	4
Investors’ net buying pressure and implied volatility dynamics	4
Emerging market portfolios and Islamic financial markets: Diversification benefits and safe havens	4
Uncertainty in banking and trade credit of firms	4
An analysis of crypto-asset trade, enforcement, and estate planning	4
The spillover effects of political risk, financial risk, and economic freedom on ecological footprint: Empirical evidence from Belt and Road Initiative countries	4
A model validation of robo-advisers for stock investment	4
Tackling financialization amidst rising labor cost in China	4
How do market capitalization and intellectual capital determine industrial investment?	4
Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange	4
Firm-specific or market-wide information: How does analyst coverage influence stock price synchronicity?	4
Determinants of financial inclusion in sub-Saharan Africa and OECD countries	4
Air pollution and local government financing costs: Evidence from the Chinese municipal corporate bond spread	4
The role of green finance in reducing CO2 emissions: An empirical analysis	4
The relative importance of textual indexes in predicting the future performance of banks: A connection weight approach	4
Cross-sectional reversal of intraday returns and investor heterogeneity in an emerging market	4
Can ESG mitigate the diversification discount in cross-border M&A?	4
The impact of ESG rating disagreement on the financial performance of environmentally sensitive industry companies worldwide	4
Working capital management and firm performance: A comparative analysis of developed and emerging economies	4
Connectedness and investment strategies of volatile assets: DCC-GARCH R2 analysis ofcryptocurrencies and emerging market sectors	4
Synergy between stock prices and investor sentiment in social media	4
Promoting enterprise productivity: The role of digital transformation	4
Risk transmissions between sectoral Islamic and conventional stock markets during COVID-19 pandemic: What matters more between actual COVID-19 occurrence and speculative and sentiment factors?	4
Sanctions and Iranian stock market: Does the institutional quality matter?	4