OOIR: Observatory of International Research

Papers

(The TQCC of Borsa Istanbul Review is 13. The table below lists those papers that are above that threshold based on CrossRef citation counts [max. 250 papers]. The publications cover those that have been published in the past four years, i.e., from 2021-11-01 to 2025-11-01.)

Article	Citations
Sweetness by the pound: Sugar and currency correlations in pre-Brexit UK prices	450
Financial literacy and decision-making: The impact of knowledge gaps on financial outcomes	408
Does the trading volume of asset management companies’ bonds contain information on non-performing loans?	258
Decoding digital signals: AI sentiment and financial performance at İslamic banks	182
Dimensions of global financial inclusion and their impact on the achievement of the United Nations Development Goals	156
Does the islamic label indicate good environmental, social, and governance (ESG) performance? Evidence from sharia-compliant firms in Indonesia and Malaysia	144
Does cross-listing on the Hong Kong stock exchange affect Chinese firms’ green innovation? New evidence	140
Network readiness, financial inclusion, and sustainable development goals: Insights from a clustering approach	123
The GCC's regional roller coaster: Do regional factors affect stock market dynamics in the GCC Region? Evidence from non-parametric quantile regression	115
Hedging Bitcoin with conventional assets	103
The impact of religious announcements on stock prices and investment decisions on the Saudi stock exchange	94
ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe	80
Quantile-based extended joint connectedness between trade policy uncertainty and GCC Islamic stock sectoral volatility	77
How does environmental, social, and governance (ESG) performance determine investment mix? New empirical evidence from BRICS	77
Can financial literacy training improve financially responsible behavior? Experimental evidence from Turkish undergraduates	76
Editorial Board	76
Connected but fragile: Fund-to-fund holdings and redemptions	75
Idiosyncratic risk puzzle and its pricing: Do firm characteristics matter? Evidence of BRICS countries	72
Factors affecting the credibility of islamic banking Sharī’ah approvals: Perception-based empirical study	70
A feasible approach to projecting household demand for the digital ruble in Russia	65
Family businesses in the GCC: What drives their capital structure?	63
From safe-haven to industrial driver: The influence of gold and precious metals on manufacturing growth in Türkiye	62
The monitoring role of pension fund ownership in ESG firm controversies	53
Democracy and corporate R&D investment	52
Shielding against oil shocks: Contagion dynamics in Islamic versus conventional markets	51

A novel distance-based moving average model for improvement in the predictive accuracy of financial time series	50
The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level	50
How investor attention affects stock returns? Some international evidence	48
Sustainability performance and board compensation in Japan and ASEAN-5 countries	45
Do Ownership Structure and Governance Matter in Asset Allocation Decisions of Islamic and Conventional Mutual Funds? Empirical Evidence from Pakistan	44
The impact of control structures on firm value	44
Analysis of the response of exchange rates to specific FOMC announcements using high-frequency data	43
Global risk factors and the time-varying connectedness between clean and dirty cryptocurrencies	43
Antigambling interventions and corporate financialization: Evidence from China	41
Shadow banking Regulation and the stock price synchronicity --A quasi-natural experiment based on China's new asset management regulation	40
Do private placements exacerbate the degree of asset mispricing? A study based on theories of information asymmetry and signaling	39
The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector	38
Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia	37
Inverted U-shaped dynamics of capital structure and firm value: Evidence from an emerging market	36
The spillover effects of political risk, financial risk, and economic freedom on ecological footprint: Empirical evidence from Belt and Road Initiative countries	35
The relative importance of textual indexes in predicting the future performance of banks: A connection weight approach	35
Connectedness and investment strategies of volatile assets: DCC-GARCH R2 analysis ofcryptocurrencies and emerging market sectors	34
The architecture of sustainable banking: Financial, institutional and risk patterns behind environmental performance	34
Impact of investor sentiment on firm innovation: Evidence from textual analysis	34
Multidimensional connectedness among the fourth industrial revolution assets	32
The role of green finance in reducing CO2 emissions: An empirical analysis	31
ESG practices and corporate financial performance: Evidence from Borsa Istanbul	30
Constructing an index for participation finance	30
Corporate ESG performance and trade credit financing: Moderating effect of life cycle	29
Revisiting the macroeconomic determinants of non-performing loans with a deep learning technique with causal inference: Evidence from Türkiye	29
Board gender diversity and debt utilization: Evidence from the global microfinance industry	28
Information shocks and the cross section of expected returns	28
Analysis of the relationship of gold prices with inflation and bitcoin in the post-tapering period	28
Does stock market listing boost or impede corporate investment?	28
Do precious metals hedge against global supply chain uncertainty?	27
Tick size, liquid stocks and market quality: Evidence from a natural experiment in a unique setting	26
Financial stability of Asian Nations: Governance quality and financial inclusion	25
Asymmetric volatility transmission across Northeast Asian stock markets	25
From Disclosure to Distortion: How Strategic ESG Disclosure Shapes Green Innovation Bubbles	25
Regulating CEO compensation: A remedy for corporate misconducts in China's state-owned enterprises	25
The impacts of conventional and Islamic banking sectors on real sector growth: Evidence from time-varying causality analysis for Turkiye	25
Unveiling the dynamic interconnectedness of fossil fuels, clean energy, water, and technology assets	24
Classification of the optimal rebalancing frequency for pairs trading using machine learning techniques	24
Editorial Board	24
Rapid credit expansion and firm behavior: A case study from Türkiye	24
Navigating turbulence: How do geopolitical risks and oil price shocks shape global equity markets? A GVAR approach	23
The impact of women's empowerment and access to finance on greenhouse gas emissions: A framework for securing environmental tranquility	23
Exchange rate regimes as thresholds: The main determinants of capital inflows in emerging market economies	22
Assessing financial convergence in developing countries: The case of D-8 countries	22
Does the financialization of agricultural commodities impact food security? An empirical investigation	22
To reward or not to reward? Investors’ response to renewable energy investment by international oil companies	22
Financial literacy, stockholding, and self-directed pension investment	21
Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies	21
Trustworthiness, good governance and risk taking in MENA countries	21
Voluntary carbon market derivatives: Growth, innovation & usage	21

Gauging the dynamic interlinkage among robotics, artificial intelligence, and green crypto investment: A quantile VAR approach	21
Editorial Board	20
Does foreign finance promote the production and consumption of renewable energy in developing countries? The role of globalization	20
Financial conditions and economic activity: The case of Türkiye	20
The benefits of sectoral diversification for investors with different risk perceptions	19
Effect of analysts' earnings pressure on environmental information disclosure of firms: Can corporate governance alleviate the earnings obsession?	19
On systemic risk contagion in the euro area: Evidence from frequency connectedness and the DY approaches	19
House price connectedness and consumer sentiment in an era of destabilizing macroeconomic conditions: Empirical evidence from Türkiye	19
Sukuk versus bonds: New evidence from the primary market	19
Does climate change affect sovereign credit risk? International evidence	19
The financial stability of Islamic banks and sukuk market development: Is the effect complementary or competitive?	19
Editorial Board	18
Do subsidized export credits affect firms’ behavior in the FX market? Micro evidence from Türkiye	18
Corrigendum to immigrants and natives “Financial decision making: Evidence from Türkiye [Borsa Istanbul Review 23-S2 (2023) S29–S37/4]	18
AI-driven insights into working capital strategies: An application on Borsa Istanbul	18
Relationship between monetary policy and financial asset returns in Türkiye: Time, frequency, and quantile-based effects	18
If Money Talks: Climate change-related regulation and firms’ cost of debt	18
Is ESG investing an ‘equity vaccine’ in times of crisis? Evidence from the 2020 Wuhan Lockdown and the 2022 Shanghai Lockdown	18
Contribution to the measurement of digital financial inclusion in Sub-Saharan Africa	18
From Brown to green: Exploring asymmetric nexus between green finance and carbon footprint in BRICS+6 alliance	17
Investor psychology in the stock market: An empirical study of the impact of overconfidence on firm valuation	17
Geopolitical risks and the energy-stock market nexus: Evidence from Turkiye	17
Threshold effects of institutional quality on the financial inclusion and stability nexus: International evidence	17
Confucian culture and informal household financing: Evidence from China's counties	17
Words that yield: The invisible hand of financial storytelling	16
Evolving roles of energy futures markets: A survey	16
Do non-profit minority institutional shareholders influence cash dividends? Empirical evidence from quasi-natural experiments in China	16
Can common institutional ownership constrain the equity pledges of controlling shareholders? Evidence from Chinese listed companies	16
The capital maintenance regime matters for creditors	16
The role of corporate governance in the nexus between litigation risk and corporate innovation	16
Correlated information consumption and comovement in the stock market	16
The determinants of financial risk tolerance and portfolio allocation: Have the Covid-19 pandemic and the Ukraine war affected our risk tolerance?	15
A new model for screening Shariah-compliant firms	15
The crisis resilience of optimal participation portfolios: A comparison with conventional counterparts on Borsa Istanbul	15
The impact of non-financial disclosure on labor investment: International evidence	15
Does financial liberalization spur economic growth? A meta-analysis	15
Market- and future-level sentiment and futures returns in Chinese agricultural futures markets	15
The agency cost of investing in ethical funds: A style analysis approach	15
A sentiment-based financial stress index for Russia	15
Air pollution, bid price bias, and IPO underpricing	14
Corporate growth – Trade credit relationship: Evidence from a panel of countries	14
Asset securitization and bank stock price performance: Bubble increase or risk transfer?	14
US political sanctions and earnings management	14
International financial integration: Too much?	14
China's trilemma: Exchange rate marketization, RMB internationalization, and exchange rate pricing power	14
Spillovers between Twitter Uncertainty Indexes and sector indexes: Evidence from the US	13
Guest Editors’ introduction: Borsa Istanbul history (1836–2023) and an overview of selected papers on the 150th anniversary of the founding of Borsa Istanbul	13
The contagion effect of the FTX cryptocurrency exchange's crash on the stock markets	13
Editorial Board	13
Term premium in Turkish lira interest rates: The role of foreign investors’ share	13
Can ESG mitigate the diversification discount in cross-border M&A?	13
More than just sentiment: Using social, cognitive, and behavioral information of social media to predict stock markets with artificial intelligence and big data	13
Oil assets and portfolio diversification: Firm-level analysis for Borsa Istanbul	13
Firm-specific or market-wide information: How does analyst coverage influence stock price synchronicity?	13
Does a search attention index explain portfolio returns in India?	13
COVID-19 and connectedness between Sustainable and Islamic equity markets	13
Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange	13
Option-based variables and future stock returns in normal times and recessions	13
Finance for a Greener future: Evolving the financial sector for ESG and sustainable corporate debt management	13