Borsa Istanbul Review

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
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
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 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
Unveiling the dynamic interconnectedness of fossil fuels, clean energy, water, and technology assets	25
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
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
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
Voluntary carbon market derivatives: Growth, innovation & usage	23
Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies	23
Gauging the dynamic interlinkage among robotics, artificial intelligence, and green crypto investment: A quantile VAR approach	22

Does the financialization of agricultural commodities impact food security? An empirical investigation	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
On systemic risk contagion in the euro area: Evidence from frequency connectedness and the DY approaches	20
Evolving roles of energy futures markets: A survey	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
Effect of analysts' earnings pressure on environmental information disclosure of firms: Can corporate governance alleviate the earnings obsession?	20
Does foreign finance promote the production and consumption of renewable energy in developing countries? The role of globalization	20
Corrigendum to immigrants and natives “Financial decision making: Evidence from Türkiye [Borsa Istanbul Review 23-S2 (2023) S29–S37/4]	20
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
Contribution to the measurement of digital financial inclusion in Sub-Saharan Africa	19
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
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
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
If Money Talks: Climate change-related regulation and firms’ cost of debt	17
US political sanctions and earnings management	17
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
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
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
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
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
Editorial Board	14
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
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
Fueling the bottom line: Decoding the effects of oil on banking performance in net oil-importing economies	12
Crash risk and ESG disclosure	12
Board social capital in an emerging market: Do directors’ connections affect corporate risk-taking?	12
Biodiversity risk and global stock markets: A cross-national heterogeneity analysis based on quantile-on-quantile methods	12
Safe-haven and hedging roles of precious metals for BRICS and Turkey	12
Oil shocks and the transmission of higher-moment information in US industry: Evidence from an asymmetric puzzle	12
How do loan officer-borrower gender-driven behavioural differences impact on the microfinance lending market?	12
Impact of ESG performance on firm value and profitability	11
Bank market power and discouraged SMEs: International evidence	11
From tweets to markets: Lebanon’s policy uncertainty and volatility spillovers in MENA stock markets	11
Dynamic responses of Bitcoin, gold, and green bonds to geopolitical risk: A quantile wavelet analysis	11
Can artificial intelligence mitigate environmental inequality? Evidence from leading robotic-driven economies using quantile-based methods	11
Unlocking profitability in Borsa Istanbul: The impact of noncash credit and maturity breakdown of cash credit on corporate performance	11

Interconnectedness and idiosyncratic risks in sub-Saharan forex markets: Implications for investment, portfolio management, and policy formulation	11
Does environmental innovation improve investment efficiency?	11
Performance of islamic vs conventional banks in OIC countries: Resilience and recovery during Covid-19	11
A portfolio-focused behavioral model linking financial literacy and risk tolerance: Evidence from mutual fund investors in Türkiye	11
Do ex-bureaucrats on boards improve efficiency in intellectual capital? Evidence from an emerging country	11
Managerial overconfidence and corporate information disclosure	11
Analyzing the impact of eco-friendly bonds on economic growth and environmental sustainability	11
Directional predictability in foreign exchange rates of emerging markets: New evidence using a cross-quantilogram approach	10
Immigrants and natives’ financial decision making: Evidence from Türkiye	10
Is firms’ low-carbon transition conducive to improving maturity mismatch of investment and financing?	10
Robo-Sukuk pricing for Chinese equities	10
Covid-19 pandemic, asset prices, risks, and their convergence: A survey of Islamic and G7 stock market, and alternative assets	10
Dynamic interlinkages between geopolitical stress and agricultural commodity market: Novel findings in the wake of the Russian Ukrainian conflict	10
Pairs trading: is it applicable to exchange-traded funds?	10
The role of institutional quality in the relationship between financial development and economic growth: Emerging markets and middle-income economies	10
Climate change governance, Shariah governance quality, and financed emission mitigation: Evidence from Islamic banks in Southeast and West Asia	10
The relationship between shari’ah convergence and market-to-book value: A case study of firms in Islamic countries	10
Financial literacy and the impact of central bank communication on consumer inflation expectations	10
Volatility transmitter or receiver? Investigating dynamic connectedness between the carry trade and financial markets	10
The impacts of foreign portfolio flows and monetary policy responses on stock markets by considering COVID-19 pandemic: Evidence from Turkey	9
Overconfidence bias and investment performance: A mediating effect of risk propensity	9
Do firms defer or accelerate green investment under carbon price uncertainty?	9
The impact of non-performing loan sales on the stock market: The role of corporate governance in an emerging market	9
Financial literacy antecedents: Testing the social cognitive, consumer socialization, and planned behavior theories with Indian investors	9
Is insider trading politically informative?	9
Stock liquidity, stock price crash risk, and foreign ownership	9
Investor trends during periods of geopolitical risk in Türkiye: Which assets serve as safe havens?	9
Corrigendum to “Tick size, liquid stocks and market quality: Evidence from a natural experiment in a unique setting” [Borsa Istanbul Review 23-5 (2023) 1037–1057/4]	9
Market efficiency and the capacity of stock prices to track a firm's future profitability	9
U.S. options exchange-traded funds: Performance dynamics and managerial expertise	9
Oil and GCC foreign exchange forward markets: A wavelet analysis	9
The value relevance of risk-related disclosure: Does the tone of disclosure matter?	8
Stock price prediction using the Sand Cat Swarm Optimization and an improved deep Long Short Term Memory network	8
Return and risk spillovers between the ESG global index and stock markets: Evidence from time and frequency analysis	8
Blind following in the boardroom: Evidence of overconfidence contagion in Chinese listed companies	8
The role of audit quality in the ESG-corporate financial performance nexus: Empirical evidence from Western European companies	8
The impact of financial literacy on financial development: A cross-country analysis	8
Do financial inclusion and income inequality matter for human capital? Evidence from sub-Saharan economies	8
Multiple directorships and dividends in Spanish listed firms	8
Common institutional ownership and investment efficiency: Empirical evidence from China	8
CDS risk premia forecasting with multi-featured deep RNNs: An application on BR[I]CS countries	8
Green banking strategies: Evidence from Turkish banks	8
Impact of FinTech on capital allocation: Empirical evidence from Jordan and Palestine	8
ESG performance and organizational resilience ——based on an “extreme heat event”	8
Impact of geopolitical risk on firm financial fragility: International evidence from listed companies	8
Access to an educated workforce and the performance of private firms during the COVID-19 pandemic	8
Financial literacy among Chinese rural households and its impact on stock-market participation	8
The domino effect of silicon valley Bank's bankruptcy and the role of FED's monetary policy	8
Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries	7
Price discovery and government intervention during the COVID-19 pandemic: Evidence from European cross-listed firms	7
From synchronicity to fragility: How corporate ESG performance reshapes systemic risk	7
The adoption of cross-border payment: A comparative study of belt and road countries	7
Unveiling the nexus of financial inclusion and political stability for capital market participation in South Asian regions	7
The dilemma of growth: High growth expectation and borrower discouragement	7
Reporting quality, stock market integration, and investment efficiency in Latin America	7
Financial inclusion for the elderly in Thailand and the role of information communication technology	7
The impact of ESG rating disagreement on the financial performance of environmentally sensitive industry companies worldwide	7
Investors’ net buying pressure and implied volatility dynamics	7
Emerging market portfolios and Islamic financial markets: Diversification benefits and safe havens	7
Editorial Board	7
Investor attention and its impact on portfolio volatility and sectoral risk spillovers in Borsa Istanbul	7
Composing a High-Frequency Financial Conditions Index and The Implications for Economic Activity	7
Stock market development and economic growth: The role of institutional quality	7
Product market competition and financial analysts' forecast quality: The mediating role of financial reporting quality	7
What determines the success of equity derivatives markets? A global perspective	7
US Treasury market default risk and global interbank liquidity risk	7
Financial literacy overconfidence, poor financial behaviour, and loan-taking propensity: The mediating role of financial fragility	6
Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market	6
Determinants of corporate carbon disclosure: A step towards sustainability reporting	6
The factors influencing the selection of fund management companies by Malaysian retail investors in the context of islamic unit trust funds	6
Does managerial ability transform organization from the inside out? Evidence from sustainability performance of financially constrained firms in an emerging economy	6
Employee turnover and the credit risk of microfinance institutions (MFIs): International evidence	6
Credit portfolio optimization: A multi-objective genetic algorithm approach	6
The moderating role of audit quality in the relationship between ESG practices and the cost of capital: Evidence from the United Kingdom	6
Exchange rates, credit default swaps and market volatility of emerging markets: Panel CS-ARDL approach	6
Editorial Board	6
Will the cryptocurrency exuberance last? An empirical assessment using AI and the ARDL approach	6
Foreign investment dynamics: The impact of benchmark-driven versus unconstrained investors on local credit conditions	6
Does digital technology enhance the global value chain position?	6
Oil prices and the green bond market: Evidence from time-varying and quantile-varying aspects	6
“Trust but verify” financial inclusion in the MENA region	6
Editorial Board	6
The dynamic effect of corporate financial hedging on firm value: The case of Indian MNCs	6
Exploring the impact of financial literacy on predicting credit default among farmers: An analysis using a hybrid machine learning model	6
Unlocking the green vault: A comparative analysis on the impact of green financing initiatives in mitigating ecological footprint in Europe	5
Cross-border sovereign risk transmission in BRICIT Nations: Unveiling asymmetries and the role of country risk premiums	5
Trading halts and the advantage of institutional investors: Historical evidence from Borsa Istanbul	5
How does green finance asymmetrically affect greenhouse gas emissions? Evidence from the top-ten green bond issuer countries	5
Do industries lead the stock market? Evidence from an emerging stock market	5
Debt maturity structure and stock price crash risk: The case of Turkiye	5
Convergence in Islamic financial development: Evidence from Islamic countries using the Fourier panel KPSS stationarity test	5
Asset pricing anomalies: The case of dividends in the US for Sharia-compliant firms	5
Option pricing with neural networks vs. Black-Scholes under different volatility forecasting approaches for BIST 30 index options	5
Unveiling the impact of firm-characteristics on sustainable development goals disclosure: A cross-country study on non-financial companies in Asia	5
Digital inclusive finance and corporate environmental performance: Insights from Chinese micro, small- and medium-sized manufacturing enterprises	5