Borsa Istanbul Review

Article	Citations
The role of green finance in reducing CO2 emissions: An empirical analysis	234
Does green finance really deliver what is expected? An empirical perspective	115
Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries	89
The COVID-19 outbreak and high frequency information transmission between major cryptocurrencies: Evidence from the VAR-DCC-GARCH approach	83
Network analysis of global stock markets at the beginning of the coronavirus disease (Covid-19) outbreak	75
Global and country-specific geopolitical risk uncertainty and stock return of fragile emerging economies	67
Financial inclusion and stability in the Asian region using bank-level data	66
Business cycles and energy intensity. Evidence from emerging economies	63
ESG practices and corporate financial performance: Evidence from Borsa Istanbul	57
Can digital finance promote urban innovation? Evidence from China	56
Impact of ESG performance on firm value and profitability	55
Digital financial inclusion and sustainable employment: Evidence from countries along the belt and road	52
Policy uncertainty and Bitcoin returns	51
Pandemics and the emerging stock markets	48
Does financial development matter for economic growth in the emerging markets?	48
Does ownership concentration affect corporate environmental responsibility engagement? The mediating role of corporate leverage	46
Economic development, financial development, and income inequality nexus	45
Exploring market overreaction, investors’ sentiments and investment decisions in an emerging stock market	41
Sovereign credit risk and economic risk in Turkey: Empirical evidence from a wavelet coherence approach	38
Revisiting the nexus among foreign direct investment, corruption and growth in developing and developed markets	37
ESG performance, institutional investors’ preference and financing constraints: Empirical evidence from China	36
Promoting enterprise productivity: The role of digital transformation	36
Volatility spillover effects between Islamic stock markets and exchange rates: Evidence from three emerging countries	35
Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange	33
Institutional quality and the financial inclusion-poverty alleviation link: Empirical evidence across countries	33

Simulations of US-Iran war and its impact on global oil price behavior	32
Financial stability of Asian Nations: Governance quality and financial inclusion	31
Intellectual capital efficiency and bank performance: Evidence from islamic banks	30
Commodity price shocks related to the war in Ukraine and exchange rates of commodity exporters and importers	29
The role of audit quality in the ESG-corporate financial performance nexus: Empirical evidence from Western European companies	28
Female CEOs and corporate investment efficiency: Evidence from China	27
The nexus between oil price and islamic stock markets in Africa: A wavelet and Multivariate-GARCH approach	27
The spillover effects of political risk, financial risk, and economic freedom on ecological footprint: Empirical evidence from Belt and Road Initiative countries	25
Testing the random walk hypothesis for leading cryptocurrencies	24
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?	24
The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being	24
Does ESG performance affect the financial performance of environmentally sensitive industries? A comparison between emerging and developed markets	23
Performance analysis of Islamic and conventional portfolios: The emerging markets case	23
Oil prices and the green bond market: Evidence from time-varying and quantile-varying aspects	23
Does intellectual capital efficiency explain corporate social responsibility engagement-firm performance relationship? Evidence from environmental, social and governance performance of US listed firms	23
The necessity of financial inclusion for enhancing the economic impacts of remittances	23
Financial structure and economic growth nexus revisited	22
ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe	22
The response of exchange rates to economic policy uncertainty: Evidence from Russia	22
Does the islamic label indicate good environmental, social, and governance (ESG) performance? Evidence from sharia-compliant firms in Indonesia and Malaysia	22
Macroeconomic drivers of Public Private Partnership (PPP) projects in low income and developing countries: A panel data analysis	21
Asymmetric volatility connectedness among main international stock markets: A high frequency analysis	21
Corporate cash holdings in emerging markets	21
Does Islamic microfinance serve maqāsid al-shari'a?	19
Environmental consequences of financial development in emerging and growth-leading economies: A multidimensional assessment	19
The impacts of foreign portfolio flows and monetary policy responses on stock markets by considering COVID-19 pandemic: Evidence from Turkey	18
The impact of the global financial crisis on corporate cash holdings: Evidence from Eastern European countries	17
Time-varying propagations between oil market shocks and a stock market: Evidence from Turkey	16
Board gender diversity and stock price crash risk: Going beyond tokenism	16
Towards sustainable financing models: A proof-of-concept for a waqf-based alternative financing model for renewable energy investments	16
How does the monetary transmission mechanism work? Evidence from Turkey	15
Crash risk and ESG disclosure	15
Do market differences matter on dividend policy?	15
The influence of country governance on the capital structure and investment financing decisions of firms: An international investigation	15
Predicting IPO initial returns using random forest	15
Trustworthiness, good governance and risk taking in MENA countries	15
Effect of air quality on corporate environmental disclosure: The moderating role of institutional investors	15
Do institutional investors drive the IPO valuation?	14
The impact of air pollution on corporate cash holdings	14
Emerging market portfolios and Islamic financial markets: Diversification benefits and safe havens	14
Institutional environment and determinants of adjustment speed to the target capital structure in the MENA region	14
Can ESG mitigate the diversification discount in cross-border M&A?	14
The effects of national culture on financial sector development: Evidence from emerging and developing economies	13
Diversity and risk taking in Islamic banks: Does public listing matter?	13
Optimal hedge ratios and hedging effectiveness: An analysis of the Turkish futures market	13
Examining the relationship between digital finance and financial inclusion: Evidence from MENA countries	13
Finance, talent and income inequality: Cross-country evidence	12
Return and risk spillovers between the ESG global index and stock markets: Evidence from time and frequency analysis	12
Does air pollution matter in a supplier's trade credit strategy? Evidence from an emerging market	12
Does an Islamic-SRI portfolio really matter? Empirical application of valuation models in Indonesia	12

Short and long-term volatility transmission from oil to agricultural commodities – The robust quantile regression approach	12
Dividend policy and earnings management: Do agency problem and financing constraints matter?	12
Overconfidence bias and investment performance: A mediating effect of risk propensity	11
The importance of trust distance on stock market correlation: Evidence from emerging economics	11
Hedging Bitcoin with conventional assets	11
Internal and external corporate social responsibility activities and firm value: Evidence from the shared growth in the supply chain	11
Green finance and green transition by enterprises: An exploration of market-oriented governance mechanisms	11
The effect of the internal control regulation on reporting quality in China	11
Credit portfolio optimization: A multi-objective genetic algorithm approach	11
Dimensions of global financial inclusion and their impact on the achievement of the United Nations Development Goals	11
Impact of financial development on sentiment-return relationship: Insight from Asia-Pacific markets	10
Covid-19 pandemic, asset prices, risks, and their convergence: A survey of Islamic and G7 stock market, and alternative assets	10
Investor sentiment, corporate social responsibility, and financial performance: Evidence from Japanese companies	10
The effect of private pension scheme on savings: A case study for Turkey	10
Earnings management and theoretical adjustment in capital structure performance pattern: Evidence from APTA economies	10
How does corporate social performance affect investment inefficiency? An empirical study of China market	10
Frequency connectedness and spillovers among oil and Islamic sector stock markets: Portfolio hedging implications	10
Determinants of corporate carbon disclosure: A step towards sustainability reporting	10
Does managerial ability transform organization from the inside out? Evidence from sustainability performance of financially constrained firms in an emerging economy	9
Dependence structure across equity sectors: Evidence from vine copulas	9
The nexus between asymmetric financial inclusion and economic growth: Evidence from the top 10 financially inclusive economies	9
Board age and value diversity: Evidence from a collectivistic and paternalistic culture	9
Value drivers of startup valuation from venture capital equity-based investing: A global analysis with a focus on technological factors	9
Investigating the volatility spillover effect between derivative markets and spot markets via the wavelets: The case of Borsa İstanbul	9
Capital flows under global uncertainties: Evidence from Turkey	9
The causal linkages between investor sentiment and excess returns on Borsa Istanbul	9
The impact of corruption on the performance of newly established enterprises: Empirical evidence from a transition economy	9
Do financial inclusion and income inequality matter for human capital? Evidence from sub-Saharan economies	9
Market multiples and stock returns among emerging and developed financial markets	8
Trustworthiness and margins in Islamic small business financing: Evidence from Indonesia	8
The effect of product market competition on stability and capital ratio of banks in Southeast Asian countries	8
A new multivariate approach for assessing corporate financial risk using balance sheets	8
The impact of investor sentiment on returns, cash flows, discount rates, and performance	8
Do precious metals hedge against global supply chain uncertainty?	8
Does innovation in environmental, social, and governance disclosures pay off in China? An integrated reporting perspective	8
Testing the pecking order theory of capital structure: Evidence from Turkey using panel quantile regression approach	8
COVID-19 and connectedness between Sustainable and Islamic equity markets	8
Corporate social responsibility disclosure and financial reporting quality: Evidence from Gulf Cooperation Council countries	7
Testing the validity of purchasing power parity in alternative markets: Evidence from the fourier quantile unit root test	7
Global financial cycles and exchange rate forecast: A factor analysis	7
Directional predictability in foreign exchange rates of emerging markets: New evidence using a cross-quantilogram approach	7
Spillovers between Twitter Uncertainty Indexes and sector indexes: Evidence from the US	7
How investor attention affects stock returns? Some international evidence	7
Stock liquidity, stock price crash risk, and foreign ownership	7
Investors’ net buying pressure and implied volatility dynamics	7
What are the effects of financial stress on economic activity and government debt? An empirical examination in an emerging economy	7
Concentration, capital, and bank stability in emerging and developing countries	6
Political uncertainty of impeachment upon corporate investment decisions	6
Realized volatility transmission within Islamic stock markets: A multivariate HAR-GARCH-type with nearest neighbor truncation estimator	6
CEE and SEE equity market return spillovers: Creating profitable investment strategies	6
The portfolios with strong brand value: More returns? Lower risk?	6
The impact of corporate political activity on innovation in Sub-Saharan African countries: A double-edged sword	6
On systemic risk contagion in the euro area: Evidence from frequency connectedness and the DY approaches	6
Frontier economies and economic growth: Evidence from European and Central Asian Countries	6
Voluntary carbon market derivatives: Growth, innovation & usage	6
Asymmetric volatility transmission across Northeast Asian stock markets	6
How do market capitalization and intellectual capital determine industrial investment?	6
Financial constraints and firm employment: Evidence from Turkey	6
Further evidence on co-movement between equity funds and business cycle variables in BRICS: A Wavelet analysis	6
The impact of fintech and banks M&A on Acquirer's performance: A strategic win or loss?	6
How does corporate social responsibility affect the cost of equity capital through operating risk?	6
Leveraging financial inclusion through Islamic microfinance: A new model proposal for participation banks in Turkiye	6
Oil assets and portfolio diversification: Firm-level analysis for Borsa Istanbul	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
Pricing the common stocks in an emerging capital market: Comparison of the factor models	6
The day of the week effect and interest rates	6
Information cascades, short-selling constraints, and herding in equity markets	5
Performance of islamic vs conventional banks in OIC countries: Resilience and recovery during Covid-19	5
Does stock market listing boost or impede corporate investment?	5
Investors' personal characteristics and trading decisions under distressed market conditions	5
The impact of universal banking on macroeconomic dynamics: A nonlinear local projection approach	5
Testing mispricing-augmented factor models in an emerging market: A quest for parsimony	5
Venture capital healthcare investments and health care sector growth: A panel data analysis of Europe	5
Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies	5
The relationship between global wealth and happiness: An analytical study of returns and volatility spillovers	5
The relative importance of textual indexes in predicting the future performance of banks: A connection weight approach	5
Corporate growth – Trade credit relationship: Evidence from a panel of countries	5
Fintech adoption, the regulatory environment and bank stability: An empirical investigation from GCC economies	5
Dividend payout policies of politically connected firms: Evidence from Malaysia	5
Do analysts pay attention to managerial sentiment? Evidence from analysts' following decisions and earnings forecasts	5

Democracy and corporate R&D investment	5
Food insecurity and sovereignty threat to uncontrolled price spillover effects in financialized agricultural products: The red meat case in Turkiye	5
Sukuk versus bonds: New evidence from the primary market	4
Robo-Sukuk pricing for Chinese equities	4
International financial integration: Too much?	4
Does information communication promote financial development? Empirical evidence from China	4
Dynamic interlinkages between geopolitical stress and agricultural commodity market: Novel findings in the wake of the Russian Ukrainian conflict	4
Effect of analysts' earnings pressure on environmental information disclosure of firms: Can corporate governance alleviate the earnings obsession?	4
Bank market power and discouraged SMEs: International evidence	4
Investor psychology in the stock market: An empirical study of the impact of overconfidence on firm valuation	4
Underpricing and aftermarket performance of IPOs during the Covid-19 period: Evidence from Istanbul stock exchange	4
The effect of managerial ability on voluntary disclosure of carbon emissions	4
How does green finance asymmetrically affect greenhouse gas emissions? Evidence from the top-ten green bond issuer countries	4
A comparison of bid-ask spread proxies and determinants of bond bid-ask spread	4
The momentum effect in the Tunisian stock market: Risk hypothesis vs. underreaction hypothesis	4
Influences of Taiwan's corporate social responsibility report management policy on the information transparency of its capital market	4
The value relevance of risk-related disclosure: Does the tone of disclosure matter?	4
Who affects whom? Impact of the national culture of international audit firms and their affiliates on the financial reporting quality of audit clients	4
The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level	3
Turkish IPOs in a changing regulatory and economic environment	3
Option pricing with neural networks vs. Black-Scholes under different volatility forecasting approaches for BIST 30 index options	3
Does auditing multiple clients affiliated with the same business group reduce audit quality? Evidence from an emerging market	3
Employee turnover and the credit risk of microfinance institutions (MFIs): International evidence	3
Does the financialization of agricultural commodities impact food security? An empirical investigation	3
Safe-haven and hedging roles of precious metals for BRICS and Turkey	3
Oil and GCC foreign exchange forward markets: A wavelet analysis	3
Institutional shareholding and the dividend payout policy of Islamic mutual funds: Evidence from international Islamic funds industry	3
Effects of commodity exchange-traded note introductions: Adjustment for seasonality	3
What drives US stock markets during the COVID-19 pandemic? A global sensitivity analysis	3
An agent-based model of financial market efficiency dynamics	3
Earnings management uncertainty, implicit guarantees, and the corporate bond yield spread: Evidence from China	3
Corporate ESG investments and Firm's value under the real-option framework: Evidence from two world-leading economies	3
The dynamic effect of corporate financial hedging on firm value: The case of Indian MNCs	3
The impacts of conventional and Islamic banking sectors on real sector growth: Evidence from time-varying causality analysis for Turkiye	3
Firm-specific or market-wide information: How does analyst coverage influence stock price synchronicity?	3
Is excess of everything bad? Ramifications of excess liquidity on bank stability: Evidence from the dual banking system	3
Synergy between stock prices and investor sentiment in social media	3
Impact of air pollution on corporate investment: New empirical evidence from BRICS	3
Confucian culture and informal household financing: Evidence from China's counties	3
Is short-term debt a substitute for or complementary to good governance?	3
Exchange rate uncertainty and the connectedness of inflation	3
The grass is greener on the other side: Comparison of green versus brown corporate bonds	3
Determinants of a global financial center: An exploratory analysis	3
Does green innovation promote trade credit activities? New empirical evidence from BRICS	3
Commodity market dynamics: Who's behind booms and busts?	3
Multidimensional connectedness among the fourth industrial revolution assets	3