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 2022-07-01 to 2026-07-01.)

Article	Citations
Hedging Bitcoin with conventional assets	616
Network readiness, financial inclusion, and sustainable development goals: Insights from a clustering approach	203
The impact of religious announcements on stock prices and investment decisions on the Saudi stock exchange	186
Risk or resilience? Assessing the impact of climate policy uncertainty on MENA stock markets: A ST-VECM analysis	176
Dimensions of global financial inclusion and their impact on the achievement of the United Nations Development Goals	139
Decoding digital signals: AI sentiment and financial performance at İslamic banks	133
The GCC's regional roller coaster: Do regional factors affect stock market dynamics in the GCC Region? Evidence from non-parametric quantile regression	126
Financial literacy and decision-making: The impact of knowledge gaps on financial outcomes	106
How does environmental, social, and governance (ESG) performance determine investment mix? New empirical evidence from BRICS	103
Does cross-listing on the Hong Kong stock exchange affect Chinese firms’ green innovation? New evidence	88
ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe	86
Quantile-based extended joint connectedness between trade policy uncertainty and GCC Islamic stock sectoral volatility	86
Editorial Board	79
From safe-haven to industrial driver: The influence of gold and precious metals on manufacturing growth in Türkiye	74
Connected but fragile: Fund-to-fund holdings and redemptions	72
Do ownership structure and governance matter in asset allocation decisions of Islamic and conventional mutual funds? Empirical evidence from Pakistan	63
Sustainability performance and board compensation in Japan and ASEAN-5 countries	60
Shielding against oil shocks: Contagion dynamics in Islamic versus conventional markets	58
Factors affecting the credibility of islamic banking Sharī’ah approvals: Perception-based empirical study	58
Can financial literacy training improve financially responsible behavior? Experimental evidence from Turkish undergraduates	57
The monitoring role of pension fund ownership in ESG firm controversies	56
Global risk factors and the time-varying connectedness between clean and dirty cryptocurrencies	55
Sustainability and profitability: The ESG impact on eurozone emission-intensive sectors	48
The impact of control structures on firm value	48
The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level	48

Idiosyncratic risk puzzle and its pricing: Do firm characteristics matter? Evidence of BRICS countries	47
Antigambling interventions and corporate financialization: Evidence from China	44
Does islamic financial development foster environmental sustainability? A nonlinear perspective from leading dual-banking systems	44
A novel distance-based moving average model for improvement in the predictive accuracy of financial time series	44
Impact of climate transition and physical risks on clean–dirty stock connectedness across market conditions	43
Family businesses in the GCC: What drives their capital structure?	42
Shadow banking Regulation and the stock price synchronicity --A quasi-natural experiment based on China's new asset management regulation	39
Can pump-and-dump manipulation and SEO market timing boost zombie firms back to normal?	39
Connectedness and investment strategies of volatile assets: DCC-GARCH R2 analysis ofcryptocurrencies and emerging market sectors	38
A feasible approach to projecting household demand for the digital ruble in Russia	38
Unveiling the link between female directors’ attributes, ownership concentration, and integrated reporting strategy in Malaysia	36
Constructing an index for participation finance	35
Inverted U-shaped dynamics of capital structure and firm value: Evidence from an emerging market	35
The relationship between employee experience and employee engagement with the moderating role of positive affect in finance sector	35
The relative importance of textual indexes in predicting the future performance of banks: A connection weight approach	34
Impact of investor sentiment on firm innovation: Evidence from textual analysis	33
Multidimensional connectedness among the fourth industrial revolution assets	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 architecture of sustainable banking: Financial, institutional and risk patterns behind environmental performance	32
Do private placements exacerbate the degree of asset mispricing? A study based on theories of information asymmetry and signaling	32
The impacts of conventional and Islamic banking sectors on real sector growth: Evidence from time-varying causality analysis for Turkiye	31
Tick size, liquid stocks and market quality: Evidence from a natural experiment in a unique setting	31
Analysis of the relationship of gold prices with inflation and bitcoin in the post-tapering period	31
From disclosure to distortion: How strategic ESG disclosure shapes green innovation bubbles	29
Do precious metals hedge against global supply chain uncertainty?	29
Information shocks and the cross section of expected returns	29
Corporate ESG performance and trade credit financing: Moderating effect of life cycle	28
Regulating CEO compensation: A remedy for corporate misconducts in China's state-owned enterprises	28
Revisiting the macroeconomic determinants of non-performing loans with a deep learning technique with causal inference: Evidence from Türkiye	28
Classification of the optimal rebalancing frequency for pairs trading using machine learning techniques	27
Exchange rate regimes as thresholds: The main determinants of capital inflows in emerging market economies	27
Editorial Board	27
Board gender diversity and debt utilization: Evidence from the global microfinance industry	27
Financial literacy, stockholding, and self-directed pension investment	26
Unveiling the dynamic interconnectedness of fossil fuels, clean energy, water, and technology assets	26
Navigating turbulence: How do geopolitical risks and oil price shocks shape global equity markets? A GVAR approach	26
To reward or not to reward? Investors’ response to renewable energy investment by international oil companies	26
Rapid credit expansion and firm behavior: A case study from Türkiye	26
Voluntary carbon market derivatives: Growth, innovation & usage	26
Public information channels in sustainability communication: News, social media, and future stock price crash risk	25
Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies	24
Does the financialization of agricultural commodities impact food security? An empirical investigation	24
Financial conditions and economic activity: The case of Türkiye	24
Assessing financial convergence in developing countries: The case of D-8 countries	24
Gauging the dynamic interlinkage among robotics, artificial intelligence, and green crypto investment: A quantile VAR approach	24
The impact of women's empowerment and access to finance on greenhouse gas emissions: A framework for securing environmental tranquility	24
Editorial Board	24
Does foreign finance promote the production and consumption of renewable energy in developing countries? The role of globalization	24
Editorial Board	23
Effect of analysts' earnings pressure on environmental information disclosure of firms: Can corporate governance alleviate the earnings obsession?	23

The financial stability of Islamic banks and sukuk market development: Is the effect complementary or competitive?	23
The benefits of sectoral diversification for investors with different risk perceptions	23
House price connectedness and consumer sentiment in an era of destabilizing macroeconomic conditions: Empirical evidence from Türkiye	23
How uncertainty transmits across Turkish equity sectors	23
Does climate change affect sovereign credit risk? International evidence	23
Sukuk versus bonds: New evidence from the primary market	23
The impact of the global financial cycle on systemic risk and the role of macroprudential policies	22
Corrigendum to immigrants and natives “Financial decision making: Evidence from Türkiye [Borsa Istanbul Review 23-S2 (2023) S29–S37/4]	22
Words that yield: The invisible hand of financial storytelling	22
Do subsidized export credits affect firms’ behavior in the FX market? Micro evidence from Türkiye	22
From Brown to green: Exploring asymmetric nexus between green finance and carbon footprint in BRICS+6 alliance	22
If Money Talks: Climate change-related regulation and firms’ cost of debt	21
Religious investors and equity crowdfunding success	21
Geopolitical risks and the energy-stock market nexus: Evidence from Turkiye	21
AI-driven insights into working capital strategies: An application on Borsa Istanbul	21
Can common institutional ownership constrain the equity pledges of controlling shareholders? Evidence from Chinese listed companies	21
Is ESG investing an ‘equity vaccine’ in times of crisis? Evidence from the 2020 Wuhan Lockdown and the 2022 Shanghai Lockdown	20
Evolving roles of energy futures markets: A survey	20
Investor psychology in the stock market: An empirical study of the impact of overconfidence on firm valuation	20
Threshold effects of institutional quality on the financial inclusion and stability nexus: International evidence	20
Confucian culture and informal household financing: Evidence from China's counties	20
Contribution to the measurement of digital financial inclusion in Sub-Saharan Africa	20
Market- and future-level sentiment and futures returns in Chinese agricultural futures markets	19
The role of corporate governance in the nexus between litigation risk and corporate innovation	19
Correlated information consumption and comovement in the stock market	19
Relationship between monetary policy and financial asset returns in Türkiye: Time, frequency, and quantile-based effects	19
A new model for screening Shariah-compliant firms	19
The agency cost of investing in ethical funds: A style analysis approach	18
The capital maintenance regime matters for creditors	18
Foreign residency rights, extradition agreement and environmental decoupling: The moderating role of political connections and independent directors	18
The crisis resilience of optimal participation portfolios: A comparison with conventional counterparts on Borsa Istanbul	18
Impact of digital financial literacy on individual's experience of digital payment adoption: The case of Turkiye	18
The impact of non-financial disclosure on labor investment: International evidence	17
The determinants of financial risk tolerance and portfolio allocation: Have the Covid-19 pandemic and the Ukraine war affected our risk tolerance?	17
China's trilemma: Exchange rate marketization, RMB internationalization, and exchange rate pricing power	17
Biodiversity risk and corporate real earnings management: Empirical evidence from China	17
US political sanctions and earnings management	17
A sentiment-based financial stress index for Russia	17
Do non-profit minority institutional shareholders influence cash dividends? Empirical evidence from quasi-natural experiments in China	17
Asset securitization and bank stock price performance: Bubble increase or risk transfer?	17
International financial integration: Too much?	17
Editorial Board	16
Air pollution, bid price bias, and IPO underpricing	16
Guest Editors’ introduction: Borsa Istanbul history (1836–2023) and an overview of selected papers on the 150th anniversary of the founding of Borsa Istanbul	16
The contagion effect of the FTX cryptocurrency exchange's crash on the stock markets	16
Does financial liberalization spur economic growth? A meta-analysis	16
Term premium in Turkish lira interest rates: The role of foreign investors’ share	16
Artificial intelligence and unethical financial practices: Examining the mediating role of environmental; social; and governance (ESG) performance in the Saudi financial sector	15
Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange	15
More than just sentiment: Using social, cognitive, and behavioral information of social media to predict stock markets with artificial intelligence and big data	15
Firm-specific or market-wide information: How does analyst coverage influence stock price synchronicity?	15
COVID-19 and connectedness between Sustainable and Islamic equity markets	15
When does urbanisation drive climate transition? Leveraging financialisation and taxation for UK's environmental change	15
The investment portfolio selection with a hesitant fuzzy decision-making method based on aggregation operators	15
Option-based variables and future stock returns in normal times and recessions	14
Spillovers between Twitter Uncertainty Indexes and sector indexes: Evidence from the US	14
High-frequency volatility measurement on Borsa Istanbul: A TTSE-anchored comparison of range estimators	14
Finance for a Greener future: Evolving the financial sector for ESG and sustainable corporate debt management	14
Economic uncertainty, financial inclusion, and income inequality in developing countries: Evidence from a dynamic panel threshold analysis	14
Fueling the bottom line: Decoding the effects of oil on banking performance in net oil-importing economies	13
How do loan officer-borrower gender-driven behavioural differences impact on the microfinance lending market?	13
Board social capital in an emerging market: Do directors’ connections affect corporate risk-taking?	13
Oil shocks and the transmission of higher-moment information in US industry: Evidence from an asymmetric puzzle	13
Why companies go public and private: The case of Türkiye	13
Corporate risk and formal institutions: Is Latin America different?	13
From emotion to action: How intraday investor sentiment drives market microstructure	13
Editorial Board	13
Crash risk and ESG disclosure	13