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 2022-01-01 to 2026-01-01.)

Article	Citations
Sweetness by the pound: Sugar and currency correlations in pre-Brexit UK prices	467
Hedging Bitcoin with conventional assets	452
Does the trading volume of asset management companies’ bonds contain information on non-performing loans?	270
Network readiness, financial inclusion, and sustainable development goals: Insights from a clustering approach	194
Financial literacy and decision-making: The impact of knowledge gaps on financial outcomes	165
Risk or resilience? Assessing the impact of climate policy uncertainty on MENA stock markets: A ST-VECM analysis	150
Does cross-listing on the Hong Kong stock exchange affect Chinese firms’ green innovation? New evidence	150
Quantile-based extended joint connectedness between trade policy uncertainty and GCC Islamic stock sectoral volatility	129
The impact of religious announcements on stock prices and investment decisions on the Saudi stock exchange	128
The GCC's regional roller coaster: Do regional factors affect stock market dynamics in the GCC Region? Evidence from non-parametric quantile regression	112
Does the islamic label indicate good environmental, social, and governance (ESG) performance? Evidence from sharia-compliant firms in Indonesia and Malaysia	108
How does environmental, social, and governance (ESG) performance determine investment mix? New empirical evidence from BRICS	84
Dimensions of global financial inclusion and their impact on the achievement of the United Nations Development Goals	82
ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe	80
Editorial Board	79
Decoding digital signals: AI sentiment and financial performance at İslamic banks	79
How investor attention affects stock returns? Some international evidence	78
Do ownership structure and governance matter in asset allocation decisions of Islamic and conventional mutual funds? Empirical evidence from Pakistan	76
Global risk factors and the time-varying connectedness between clean and dirty cryptocurrencies	72
Sustainability performance and board compensation in Japan and ASEAN-5 countries	71
From safe-haven to industrial driver: The influence of gold and precious metals on manufacturing growth in Türkiye	68
The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level	66
Shadow banking Regulation and the stock price synchronicity --A quasi-natural experiment based on China's new asset management regulation	58
Antigambling interventions and corporate financialization: Evidence from China	56
Connected but fragile: Fund-to-fund holdings and redemptions	54

Idiosyncratic risk puzzle and its pricing: Do firm characteristics matter? Evidence of BRICS countries	53
A feasible approach to projecting household demand for the digital ruble in Russia	53
Analysis of the response of exchange rates to specific FOMC announcements using high-frequency data	52
Democracy and corporate R&D investment	50
Factors affecting the credibility of islamic banking Sharī’ah approvals: Perception-based empirical study	49
A novel distance-based moving average model for improvement in the predictive accuracy of financial time series	48
Family businesses in the GCC: What drives their capital structure?	45
Shielding against oil shocks: Contagion dynamics in Islamic versus conventional markets	45
The impact of control structures on firm value	43
The monitoring role of pension fund ownership in ESG firm controversies	42
Can financial literacy training improve financially responsible behavior? Experimental evidence from Turkish undergraduates	42
The relative importance of textual indexes in predicting the future performance of banks: A connection weight approach	40
Inverted U-shaped dynamics of capital structure and firm value: Evidence from an emerging market	38
Constructing an index for participation finance	38
Connectedness and investment strategies of volatile assets: DCC-GARCH R2 analysis ofcryptocurrencies and emerging market sectors	37
Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia	37
The architecture of sustainable banking: Financial, institutional and risk patterns behind environmental performance	37
Do private placements exacerbate the degree of asset mispricing? A study based on theories of information asymmetry and signaling	37
The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector	35
Multidimensional connectedness among the fourth industrial revolution assets	34
Impact of investor sentiment on firm innovation: Evidence from textual analysis	33
The spillover effects of political risk, financial risk, and economic freedom on ecological footprint: Empirical evidence from Belt and Road Initiative countries	32
The role of green finance in reducing CO2 emissions: An empirical analysis	32
ESG practices and corporate financial performance: Evidence from Borsa Istanbul	31
Revisiting the macroeconomic determinants of non-performing loans with a deep learning technique with causal inference: Evidence from Türkiye	30
Corporate ESG performance and trade credit financing: Moderating effect of life cycle	30
Analysis of the relationship of gold prices with inflation and bitcoin in the post-tapering period	30
The impacts of conventional and Islamic banking sectors on real sector growth: Evidence from time-varying causality analysis for Turkiye	29
Board gender diversity and debt utilization: Evidence from the global microfinance industry	29
Financial stability of Asian Nations: Governance quality and financial inclusion	29
Information shocks and the cross section of expected returns	28
Regulating CEO compensation: A remedy for corporate misconducts in China's state-owned enterprises	28
Tick size, liquid stocks and market quality: Evidence from a natural experiment in a unique setting	27
From disclosure to distortion: How strategic ESG disclosure shapes green innovation bubbles	27
Do precious metals hedge against global supply chain uncertainty?	27
Does stock market listing boost or impede corporate investment?	27
Financial literacy, stockholding, and self-directed pension investment	26
Asymmetric volatility transmission across Northeast Asian stock markets	26
Rapid credit expansion and firm behavior: A case study from Türkiye	25
To reward or not to reward? Investors’ response to renewable energy investment by international oil companies	25
Assessing financial convergence in developing countries: The case of D-8 countries	25
Editorial Board	25
Unveiling the dynamic interconnectedness of fossil fuels, clean energy, water, and technology assets	25
Navigating turbulence: How do geopolitical risks and oil price shocks shape global equity markets? A GVAR approach	24
Exchange rate regimes as thresholds: The main determinants of capital inflows in emerging market economies	24
The impact of women's empowerment and access to finance on greenhouse gas emissions: A framework for securing environmental tranquility	24
Classification of the optimal rebalancing frequency for pairs trading using machine learning techniques	24
Voluntary carbon market derivatives: Growth, innovation & usage	23
Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies	23
Does the financialization of agricultural commodities impact food security? An empirical investigation	22

Gauging the dynamic interlinkage among robotics, artificial intelligence, and green crypto investment: A quantile VAR approach	22
Sukuk versus bonds: New evidence from the primary market	21
Editorial Board	21
The financial stability of Islamic banks and sukuk market development: Is the effect complementary or competitive?	21
Does climate change affect sovereign credit risk? International evidence	21
Financial conditions and economic activity: The case of Türkiye	21
The benefits of sectoral diversification for investors with different risk perceptions	20
Evolving roles of energy futures markets: A survey	20
Does foreign finance promote the production and consumption of renewable energy in developing countries? The role of globalization	20
House price connectedness and consumer sentiment in an era of destabilizing macroeconomic conditions: Empirical evidence from Türkiye	20
Do subsidized export credits affect firms’ behavior in the FX market? Micro evidence from Türkiye	20
Editorial Board	20
On systemic risk contagion in the euro area: Evidence from frequency connectedness and the DY approaches	20
Effect of analysts' earnings pressure on environmental information disclosure of firms: Can corporate governance alleviate the earnings obsession?	20
Corrigendum to immigrants and natives “Financial decision making: Evidence from Türkiye [Borsa Istanbul Review 23-S2 (2023) S29–S37/4]	20
Contribution to the measurement of digital financial inclusion in Sub-Saharan Africa	19
Words that yield: The invisible hand of financial storytelling	19
Geopolitical risks and the energy-stock market nexus: Evidence from Turkiye	19
Is ESG investing an ‘equity vaccine’ in times of crisis? Evidence from the 2020 Wuhan Lockdown and the 2022 Shanghai Lockdown	19
From Brown to green: Exploring asymmetric nexus between green finance and carbon footprint in BRICS+6 alliance	18
The impact of the global financial cycle on systemic risk and the role of macroprudential policies	18
Can common institutional ownership constrain the equity pledges of controlling shareholders? Evidence from Chinese listed companies	18
Investor psychology in the stock market: An empirical study of the impact of overconfidence on firm valuation	18
Confucian culture and informal household financing: Evidence from China's counties	18
AI-driven insights into working capital strategies: An application on Borsa Istanbul	18
If Money Talks: Climate change-related regulation and firms’ cost of debt	17
US political sanctions and earnings management	17
The role of corporate governance in the nexus between litigation risk and corporate innovation	17
The determinants of financial risk tolerance and portfolio allocation: Have the Covid-19 pandemic and the Ukraine war affected our risk tolerance?	17
Threshold effects of institutional quality on the financial inclusion and stability nexus: International evidence	17
Relationship between monetary policy and financial asset returns in Türkiye: Time, frequency, and quantile-based effects	17
Asset securitization and bank stock price performance: Bubble increase or risk transfer?	16
The crisis resilience of optimal participation portfolios: A comparison with conventional counterparts on Borsa Istanbul	16
The capital maintenance regime matters for creditors	16
The agency cost of investing in ethical funds: A style analysis approach	16
The impact of non-financial disclosure on labor investment: International evidence	16
Corporate growth – Trade credit relationship: Evidence from a panel of countries	16
Market- and future-level sentiment and futures returns in Chinese agricultural futures markets	16
China's trilemma: Exchange rate marketization, RMB internationalization, and exchange rate pricing power	16
A new model for screening Shariah-compliant firms	15
Biodiversity risk and corporate real earnings management: Empirical evidence from China	15
International financial integration: Too much?	15
Term premium in Turkish lira interest rates: The role of foreign investors’ share	15
Correlated information consumption and comovement in the stock market	15
Does financial liberalization spur economic growth? A meta-analysis	15
Guest Editors’ introduction: Borsa Istanbul history (1836–2023) and an overview of selected papers on the 150th anniversary of the founding of Borsa Istanbul	15
Finance for a Greener future: Evolving the financial sector for ESG and sustainable corporate debt management	15
Do non-profit minority institutional shareholders influence cash dividends? Empirical evidence from quasi-natural experiments in China	15
A sentiment-based financial stress index for Russia	15
Air pollution, bid price bias, and IPO underpricing	15
Editorial Board	14
Does a search attention index explain portfolio returns in India?	14
More than just sentiment: Using social, cognitive, and behavioral information of social media to predict stock markets with artificial intelligence and big data	14
The contagion effect of the FTX cryptocurrency exchange's crash on the stock markets	14
Spillovers between Twitter Uncertainty Indexes and sector indexes: Evidence from the US	14
COVID-19 and connectedness between Sustainable and Islamic equity markets	13
Option-based variables and future stock returns in normal times and recessions	13
The efficacy of green finance for environmental sustainability: Does control of corruption makes a difference?	13
Oil assets and portfolio diversification: Firm-level analysis for Borsa Istanbul	13
Can ESG mitigate the diversification discount in cross-border M&A?	13
Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange	13
Why companies go public and private: The case of Türkiye	13
Exploring the sentiment in Borsa Istanbul with deep learning	13
Economic uncertainty, financial inclusion, and income inequality in developing countries: Evidence from a dynamic panel threshold analysis	13
Firm-specific or market-wide information: How does analyst coverage influence stock price synchronicity?	13
Indirect effects of flow-performance sensitivity on fund performance	13
From emotion to action: How intraday investor sentiment drives market microstructure	13