IDEAS home Printed from https://ideas.repec.org/a/nwe/eajour/y2025i4p961-989.html

A Bibliometric Analysis of Stock Trading Research: Unveiling Publication Trends and Future Direction

Author

Listed:
  • Fika Fitriasari

    (Faculty of Economics and Business, Universitas Muhammadiyah Malang)

  • Noor Azryani Auzairy

    (Faculty of Economics and Management, Universiti Kebangsaan Malaysia)

  • Ruzita Abdul Rahim

    (Faculty of Economics and Management, Universiti Kebangsaan Malaysia)

  • Hafizah Omar Zaki

    (Faculty of Economics and Management, Universiti Kebangsaan Malaysia)

Abstract

This research aims to comprehensively analyze the landscape of stock trading research. The study seeks to understand the current state of publications, identify emerging trends, recognize key contributors, and explore potential future directions in the field. It also aims to elaborate on descriptive analysis, publication trends, author and institution profiling, collaboration networks, and factorial analysis to provide a multifaceted view of stock trading research. This research uses BiblioMagika and Biblioshiny, a shiny app for the Bibliometrix R package, to perform bibliometric analysis of stock trading studies. The data retrieved from the Scopus database is decoded into multiple visualized formats using the method applied in this study. This study’s review of stock trading studies encompasses all relevant papers from 1984 until early 2024, utilizes data from 396 sources, covering 578 documents, and involves 1,118 authors. An appropriate scan and refinement of the article’s record was performed. The study reveals substantial growth in stock trading publications, with notable peaks in recent years. Emerging trends include the increasing influence of technology, machine learning, and a global collaborative effort. The dynamics of stock trading are characterized by a symbiotic relationship between foundational knowledge, advanced analytics, automation, and digitalization. The interplay between these factors reflects the evolving nature of the stock trading ecosystem, where technology plays a pivotal role in shaping investment, trading behaviors, behavioral finance and artificial intelligence integration. The Scopus online database was the sole place where stock trading studies were examined from multiple perspectives. Other publications published in other databases are not included. Subsequent investigations may examine comparable publications found in other reputable databases. This research makes a significant contribution to the area by providing a thorough trend of stock trading research, highlighting technological breakthroughs, identifying important contributors, considering possible research future directions, and adding to the body of knowledge on stock trading.

Suggested Citation

  • Fika Fitriasari & Noor Azryani Auzairy & Ruzita Abdul Rahim & Hafizah Omar Zaki, 2025. "A Bibliometric Analysis of Stock Trading Research: Unveiling Publication Trends and Future Direction," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 961-989, Desember.
    • Handle: RePEc:nwe:eajour:y:2025:i:4:p:961-989
    as

    Download full text from publisher

    File URL: https://www.unwe.bg/doi/eajournal/2025.4/EA.2025.4.01.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hasbrouck, Joel, 1991. "Measuring the Information Content of Stock Trades," Journal of Finance, American Finance Association, vol. 46(1), pages 179-207, March.
    2. Aria, Massimo & Cuccurullo, Corrado, 2017. "bibliometrix: An R-tool for comprehensive science mapping analysis," Journal of Informetrics, Elsevier, vol. 11(4), pages 959-975.
    3. Lakonishok, Josef & Smidt, Seymour, 1986. "Volume for Winners and Losers: Taxation and Other Motives for Stock Trading," Journal of Finance, American Finance Association, vol. 41(4), pages 951-974, September.
    4. Marvello Yang & Abdullah Al Mamun & Muhammad Mohiuddin & Sayed Samer Ali Al-Shami & Noor Raihani Zainol, 2021. "Predicting Stock Market Investment Intention and Behavior among Malaysian Working Adults Using Partial Least Squares Structural Equation Modeling," Mathematics, MDPI, vol. 9(8), pages 1-16, April.
    5. Albadvi, Amir & Chaharsooghi, S. Kamal & Esfahanipour, Akbar, 2007. "Decision making in stock trading: An application of PROMETHEE," European Journal of Operational Research, Elsevier, vol. 177(2), pages 673-683, March.
    6. Yaohu Lin & Shancun Liu & Haijun Yang & Harris Wu & Bingbing Jiang, 2021. "Improving stock trading decisions based on pattern recognition using machine learning technology," PLOS ONE, Public Library of Science, vol. 16(8), pages 1-25, August.
    7. Haroun Alryalat & Yogesh Kumar Dwivedi & Jasna Kuljis & Ray J. Paul & Mahmood Shah, 2007. "An overview of online stock trading: history, characteristics, opportunities, challenges and the impact of the SEC regulation reform on trading structure," International Journal of Business Information Systems, Inderscience Enterprises Ltd, vol. 2(1), pages 58-74.
    8. Phung Thai Minh Trang & Nguyen Huu Tho, 2017. "Perceived Risk, Investment Performance and Intentions in Emerging Stock Markets," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 269-278.
    9. Constantinides, George M., 1984. "Optimal stock trading with personal taxes : Implications for prices and the abnormal January returns," Journal of Financial Economics, Elsevier, vol. 13(1), pages 65-89, March.
    10. Wenjuan Lian & Qi Fan & Bin Jia & Yongquan Liang, 2020. "A Blockchain Prediction Model on Time, Value, and Purchase Based on Markov Chain and Queuing Theory in Stock Trade," Mathematical Problems in Engineering, Hindawi, vol. 2020, pages 1-13, November.
    11. Abdallah A.S. Fayad & Arifatul Husna Binti Mohd Ariff & Sue Chern Ooi & Aidi Ahmi & Saleh F.A. Khatib, 2023. "Towards concise reporting through integrated reporting: a bibliometric review," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 32(3), pages 832-856, August.
    12. Ivashina, Victoria & Sun, Zheng, 2011. "Institutional stock trading on loan market information," Journal of Financial Economics, Elsevier, vol. 100(2), pages 284-303, May.
    13. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    14. David Moher & Alessandro Liberati & Jennifer Tetzlaff & Douglas G Altman & The PRISMA Group, 2009. "Preferred Reporting Items for Systematic Reviews and Meta-Analyses: The PRISMA Statement," PLOS Medicine, Public Library of Science, vol. 6(7), pages 1-6, July.
    15. Jarrell, Gregg A & Poulsen, Annette B, 1989. "Stock Trading before the Announcement of Tender Offers: Insider Trading or Market Anticipation?," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 5(2), pages 225-248, Fall.
    16. Hien Nguyen & Long Pham & Stan Williamson & Nguyen Duy Hung, 2020. "Individual investors' satisfaction and loyalty in online securities trading using the technology acceptance model," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 19(2), pages 239-266.
    17. Itzhak Ben-David & Francesco Franzoni & Rabih Moussawi, 2012. "Hedge Fund Stock Trading in the Financial Crisis of 2007--2009," The Review of Financial Studies, Society for Financial Studies, vol. 25(1), pages 1-54.
    18. V. Vismayaa & K. R. Pooja & A. Alekhya & C. N. Malavika & Binoy B. Nair & P. N. Kumar, 2020. "Classifier Based Stock Trading Recommender Systems for Indian stocks: An Empirical Evaluation," Computational Economics, Springer;Society for Computational Economics, vol. 55(3), pages 901-923, March.
    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. Vuong, Quan-Hoang & Huyen, Nguyen Thanh Thanh & Pham, Thanh-Hang & Phuong, Luong Anh & Nguyen, Minh-Hoang, 2020. "Mapping the intellectual and conceptual structure of research on gender issues in the family business: A bibliometric review," OSF Preprints jgnrw, Center for Open Science.
    2. Youki Kohsaka & Grzegorz Mardyla & Shinji Takenaka & Yoshiro Tsutsui, 2017. "Disposition Effect and Diminishing Sensitivity: An Analysis Based on a Simulated Experimental Stock Market," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 18(2), pages 189-201, April.
    3. Aurelio F. Bariviera & Ignasi Merediz‐Solà, 2021. "Where Do We Stand In Cryptocurrencies Economic Research? A Survey Based On Hybrid Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 35(2), pages 377-407, April.
    4. Nicolás Ruiz, Néstor & Suárez Alonso, María Luisa & Vidal-Abarca, María Rosario, 2021. "Contributions of dry rivers to human well-being: A global review for future research," Ecosystem Services, Elsevier, vol. 50(C).
    5. Francisco García-Lillo & Eduardo Sánchez-García & Bartolomé Marco-Lajara & Pedro Seva-Larrosa, 2023. "Renewable Energies and Sustainable Development: A Bibliometric Overview," Energies, MDPI, vol. 16(3), pages 1-22, January.
    6. Schwert, G. William, 1996. "Markup pricing in mergers and acquisitions," Journal of Financial Economics, Elsevier, vol. 41(2), pages 153-192, June.
    7. Simone Di Leo & Marta Chicca & Cinzia Daraio & Andrea Guerrini & Stefano Scarcella, 2022. "A Framework for the Analysis of the Sustainability of the Energy Retail Market," Sustainability, MDPI, vol. 14(12), pages 1-28, June.
    8. Eduardo Engel & Alexander Galetovic, 1998. "¿Qué hacer con los impuestos que pagan las ganancias de capital en Chile?," Documentos de Trabajo 46, Centro de Economía Aplicada, Universidad de Chile.
    9. repec:bjc:journl:v:12:y:2025:i:10:p:726-748 is not listed on IDEAS
    10. Horobet, Alexandra & Boubaker, Sabri & Belascu, Lucian & Negreanu, Cristina Carmencita & Dinca, Zeno, 2024. "Technology-driven advancements: Mapping the landscape of algorithmic trading literature," Technological Forecasting and Social Change, Elsevier, vol. 209(C).
    11. Wright, Calvin & Swidler, Steve, 2023. "Abnormal trading volume, news and market efficiency: Evidence from the Jamaica Stock Exchange," Research in International Business and Finance, Elsevier, vol. 64(C).
    12. Borozan, Miloš & Loreta, Cannito & Riccardo, Palumbo, 2022. "Eye-tracking for the study of financial decision-making: A systematic review of the literature," Journal of Behavioral and Experimental Finance, Elsevier, vol. 35(C).
    13. You‐How Go & Wee‐Yeap Lau, 2023. "What do we know about informational efficiency? Three puzzles and the new direction forward," Journal of Economic Surveys, Wiley Blackwell, vol. 37(4), pages 1489-1525, September.
    14. Bharati Singh, 2021. "A Bibliometric Analysis of Behavioral Finance and Behavioral Accounting," American Business Review, Pompea College of Business, University of New Haven, vol. 24(2), pages 198-230.
    15. Paul Handro & Bogdan Dima, 2024. "Analyzing Financial Markets Efficiency: Insights from a Bibliometric and Content Review," Journal of Financial Studies, Institute of Financial Studies, vol. 16(9), pages 119-175, May.
    16. Brau, James C. & Li, Mingsheng & Shi, Jing, 2007. "Do secondary shares in the IPO process have a negative effect on aftermarket performance?," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2612-2631, September.
    17. Omar, Farzan A. & Kaplelach, Samson & Kiema, Harrison, 2026. "Empirical Market Microstructure Models: A Review of Trading Behavior, Liquidity, and Price Formation," East African Finance Journal, East African Finance Journal, vol. 5(2).
    18. Antonio Scalia & Valerio Vacca, 2001. "Does market transparency matter? A case study," BIS Papers chapters, in: Bank for International Settlements (ed.), Market liquidity: proceedings of a workshop held at the BIS, volume 2, pages 113-144, Bank for International Settlements.
    19. Paolo Bizzozero & Raphael Flepp & Egon Franck, 2017. " Insider trading and price efficiency: Evidence from a betting exchange," Working Papers 368, University of Zurich, Department of Business Administration (IBW).
    20. Filimonov, Vladimir & Bicchetti, David & Maystre, Nicolas & Sornette, Didier, 2014. "Quantification of the high level of endogeneity and of structural regime shifts in commodity markets," Journal of International Money and Finance, Elsevier, vol. 42(C), pages 174-192.
    21. Mirjam Lehenkari & Jukka Perttunen, 2010. "Holding on to the Losers: Finnish Evidence," Chapters, in: Brian Bruce (ed.), Handbook of Behavioral Finance, chapter 17, Edward Elgar Publishing.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

    Statistics

    Access and download statistics

    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:nwe:eajour:y:2025:i:4:p:961-989. 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: Vanya Lazarova (email available below). General contact details of provider: https://edirc.repec.org/data/unweebg.html .

    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.