IDEAS home Printed from https://ideas.repec.org/a/gam/jijfss/v11y2023i3p93-d1202235.html
   My bibliography  Save this article

The Sustainability of Investing in Cryptocurrencies: A Bibliometric Analysis of Research Trends

Author

Listed:
  • Mohammad Alqudah

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Luis Ferruz

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Emilio Martín

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Hanan Qudah

    (Department of Financial and Administrative Sciences, Ajloun University College, Al-Balqa Applied University, Ajloun 26166, Jordan)

  • Firas Hamdan

    (Accounting and Finance Department, Faculty of Economics, University of Valencia, 46010 Valencia, Spain)

Abstract

This paper explores the state of the art in the cryptocurrency literature, with a special emphasis on the links between financial dimensions and ESG features. The study uses bibliometric analysis to illustrate the history of cryptocurrency publication activity, focusing on the most popular subjects and research trends. Between 2014 and 2021, 1442 papers on cryptocurrencies were published in the Web of Science core collection, the most authoritative database, although only a tiny percentage evaluated ESG factors. One of the most common criticisms of cryptocurrencies is the pollution derived from energy consumption in their mining process and their use for illicit purposes due to the absence of effective regulation. The study allows us to suggest future research directions that may be beneficial in illustrating the environmental effect, studying financial behavior, identifying the long-term sustainability of cryptocurrencies, and evaluating their financial success. This study provides an in-depth examination of current research trends in the field of cryptocurrencies, identifying prospective future research directions.

Suggested Citation

  • Mohammad Alqudah & Luis Ferruz & Emilio Martín & Hanan Qudah & Firas Hamdan, 2023. "The Sustainability of Investing in Cryptocurrencies: A Bibliometric Analysis of Research Trends," IJFS, MDPI, vol. 11(3), pages 1-25, July.
    • Handle: RePEc:gam:jijfss:v:11:y:2023:i:3:p:93-:d:1202235
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7072/11/3/93/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7072/11/3/93/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Nees Jan Eck & Ludo Waltman, 2017. "Citation-based clustering of publications using CitNetExplorer and VOSviewer," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(2), pages 1053-1070, May.
    2. Elise Alfieri & Radu Burlacu & Geoffroy Enjolras, 2019. "On the nature and financial performance of bitcoin," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 20(2), pages 114-137, March.
    3. Fabian Maximilian Johannes Teichmann & Marie-Christin Falker, 2020. "Cryptocurrencies and financial crime: solutions from Liechtenstein," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 24(4), pages 775-788, June.
    4. Luca Ferri & Rosanna Spanò & Gianluca Ginesti & Grigorios Theodosopoulos, 2020. "Ascertaining auditors’ intentions to use blockchain technology: evidence from the Big 4 accountancy firms in Italy," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 29(5), pages 1063-1087, November.
    5. Wasiuzzaman, Shaista & Haji Abdul Rahman, Hajah Siti Wardah, 2021. "Performance of gold-backed cryptocurrencies during the COVID-19 crisis," Finance Research Letters, Elsevier, vol. 43(C).
    6. Stavroyiannis, Stavros & Babalos, Vassilios, 2019. "Herding behavior in cryptocurrencies revisited: Novel evidence from a TVP model," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 57-63.
    7. Pedini, Luca & Severini, Sabrina, 2022. "Exploring the hedge, diversifier and safe haven properties of ESG investments: A cross-quantilogram analysis," MPRA Paper 112339, University Library of Munich, Germany.
    8. Levillain, Kevin & Segrestin, Blanche, 2019. "From primacy to purpose commitment: How emerging profit-with-purpose corporations open new corporate governance avenues," European Management Journal, Elsevier, vol. 37(5), pages 637-647.
    9. Waltman, Ludo & van Eck, Nees Jan & Noyons, Ed C.M., 2010. "A unified approach to mapping and clustering of bibliometric networks," Journal of Informetrics, Elsevier, vol. 4(4), pages 629-635.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lutz Bornmann & Robin Haunschild & Sven E. Hug, 2018. "Visualizing the context of citations referencing papers published by Eugene Garfield: a new type of keyword co-occurrence analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 114(2), pages 427-437, February.
    2. Carusi, Chiara & Bianchi, Giuseppe, 2019. "Scientific community detection via bipartite scholar/journal graph co-clustering," Journal of Informetrics, Elsevier, vol. 13(1), pages 354-386.
    3. Collins C. Okolie & Gideon Danso-Abbeam & Okechukwu Groupson-Paul & Abiodun A. Ogundeji, 2022. "Climate-Smart Agriculture Amidst Climate Change to Enhance Agricultural Production: A Bibliometric Analysis," Land, MDPI, vol. 12(1), pages 1-23, December.
    4. Almeida, José & Gonçalves, Tiago Cruz, 2023. "A systematic literature review of investor behavior in the cryptocurrency markets," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    5. Fargher, Neil & Wee, Marvin, 2019. "The impact of Ball and Brown (1968) on generations of research," Pacific-Basin Finance Journal, Elsevier, vol. 54(C), pages 55-72.
    6. Roberto Pico-Saltos & Paúl Carrión-Mero & Néstor Montalván-Burbano & Javier Garzás & Andrés Redchuk, 2021. "Research Trends in Career Success: A Bibliometric Review," Sustainability, MDPI, vol. 13(9), pages 1-24, April.
    7. Viviana D’Angelo & Valeria Belvedere, 2023. "Green Supply Chains and Digital Supply Chains: Identifying Overlapping Areas," Sustainability, MDPI, vol. 15(12), pages 1-18, June.
    8. Tamara Poje & Maja Zaman Groff, 2022. "Mapping Ethics Education in Accounting Research: A Bibliometric Analysis," Journal of Business Ethics, Springer, vol. 179(2), pages 451-472, August.
    9. Xiangcheng Meng & Alan H. S. Chan, 2021. "Current States and Future Trends in Safety Research of Construction Personnel: A Quantitative Analysis Based on Social Network Approach," IJERPH, MDPI, vol. 18(3), pages 1-17, January.
    10. Valeria Naciti & Fabrizio Cesaroni & Luisa Pulejo, 2022. "Corporate governance and sustainability: a review of the existing literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(1), pages 55-74, March.
    11. Marco Bellucci & Damiano Cesa Bianchi & Giacomo Manetti, 2021. "A literature review on blockchain in accounting research," Working Papers - Business wp2021_04.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    12. Secundo, Giustina & Rippa, Pierluigi & Cerchione, Roberto, 2020. "Digital Academic Entrepreneurship: A structured literature review and avenue for a research agenda," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
    13. Rodrigo Lozano & Núria Bautista‐Puig & Maria Barreiro‐Gen, 2022. "Developing a sustainability competences paradigm in Higher Education or a White Elephant?," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 870-883, October.
    14. Piccarozzi, Michela & Silvestri, Cecilia & Aquilani, Barbara & Silvestri, Luca, 2022. "Is this a new story of the ‘Two Giants’? A systematic literature review of the relationship between industry 4.0, sustainability and its pillars," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    15. Waleed Kalf Al-Zoubi, 2024. "Economic Development in the Digital Economy: A Bibliometric Review," Economies, MDPI, vol. 12(3), pages 1-30, February.
    16. Barbara S. Lancho-Barrantes & Francisco J. Cantu-Ortiz, 2021. "Quantifying the publication preferences of leading research universities," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(3), pages 2269-2310, March.
    17. Manuel Castriotta & Michela Loi & Elona Marku & Ludovica Moi, 2021. "Disentangling the corporate entrepreneurship construct: conceptualizing through co-words," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(4), pages 2821-2863, April.
    18. Afsay, Akram & Tahriri, Arash & Rezaee, Zabihollah, 2023. "A meta-analysis of factors affecting acceptance of information technology in auditing," International Journal of Accounting Information Systems, Elsevier, vol. 49(C).
    19. B. Elango, 2019. "A Bibliometric Analysis of Franchising Research (1988–2017)," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 28(2), pages 223-249, September.
    20. Manuel Castriotta & Michela Loi & Elona Marku & Luca Naitana, 2019. "What’s in a name? Exploring the conceptual structure of emerging organizations," Scientometrics, Springer;Akadémiai Kiadó, vol. 118(2), pages 407-437, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijfss:v:11:y:2023:i:3:p:93-:d:1202235. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.