STOCK MARKET AMIDST THE COVID-19 PANDEMIC: A BIBLIOMETRIC STUDY
DOI:
https://doi.org/10.26593/jab.v18i2.5958.122-137Abstract
COVID-19 was declared a pandemic in March 2020 and wreaked havoc on the economy and business, including the stock market. This disruption has led various researchers to publish about the effects of the COVID-19 pandemic on the stock market. Due to the massive number of publications, this study reviews this novel research topic using bibliometric analysis. This study aims to identify thematic clusters, collaboration networks, and high-impact publications and research constituents. This study utilizes science mapping and performance analysis techniques such as co-authorship, bibliographic coupling, and citation analysis. This study merges data from Scopus and Dimensions database with R Studio bibliometrix package, which then are plotted using VOS Viewer and biblioshiny. The findings of this study are collaboration networks, thematic clusters, and a list of high-impact publications and research constituents. This study’s contribution is the intellectual and bibliometric structure of the COVID-19 and stock market research field. Based on these study, COVID-19 does not only affect the stock market negatively but also reveal the connectedness between the stock market and commodities.
References
Adekoya, O. B., & Oliyide, J. A. (2021). How COVID-19 drives connectedness among commodity and financial markets: Evidence from TVP-VAR and causality-in-quantiles techniques. Resources Policy, 70, 101898. https://doi.org/10.1016/j.resourpol.2020.101898
Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., & Alhammadi, S. (2020a). Death and contagious infectious diseases: Impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, 27. https://doi.org/10.1016/j.jbef.2020.100326
Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., & Alhammadi, S. (2020b). Death and contagious infectious diseases: Impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, 27, 100326. https://doi.org/10.1016/j.jbef.2020.100326
Ali, M., Alam, N., & Rizvi, S. A. R. (2020). Coronavirus (COVID-19) — An epidemic or pandemic for financial markets. Journal of Behavioral and Experimental Finance, 27, 100341. https://doi.org/10.1016/j.jbef.2020.100341
Alshater, M. M., Atayah, O. F., & Khan, A. (2021). What do we know about business and economics research during COVID-19: a bibliometric review. Economic Research-Ekonomska Istraživanja, 1–29. https://doi.org/10.1080/1331677X.2021.1927786
Aria, M. (2016). Biblioshiny. https://bibliometrix.org/Biblioshiny.html#:~:text=biblioshiny%20is%20a%20shiny%20app,o%20Data%20filtering
Aria, M., & Cuccurullo, C. (2017). bibliometrix : An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
Arslan, H., Bilal, --, & Bashir, M. (2021). Contemporary research on spillover effects of COVID-19 in stock markets. A systematic and bibliometric review. Proceedings of The 3rd International Electronic Conference on Environmental Research and Public Health —Public Health Issues in the Context of the COVID-19 Pandemic, 9103. https://doi.org/10.3390/ECERPH-3-09103
Ashraf, B. N. (2020a). Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54. https://doi.org/10.1016/j.ribaf.2020.101249
Ashraf, B. N. (2020b). Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54, 101249. https://doi.org/10.1016/j.ribaf.2020.101249
Baek, S., Mohanty, S. K., & Glambosky, M. (2020). COVID-19 and stock market volatility: An industry level analysis. Finance Research Letters, 37, 101748. https://doi.org/10.1016/j.frl.2020.101748
Corbet, S., Hou, Y., Hu, Y., Lucey, B., & Oxley, L. (2021). Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic. Finance Research Letters, 38, 101591. https://doi.org/10.1016/j.frl.2020.101591
Corbet, S., Larkin, C., & Lucey, B. (2020). The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies. Finance Research Letters, 35, 101554. https://doi.org/10.1016/j.frl.2020.101554
Cucinotta, D., & Vanelli, M. (2020). WHO Declares COVID-19 a Pandemic. Acta Bio-Medica : Atenei Parmensis, 91(1), 157–160. https://doi.org/10.23750/abm.v91i1.9397
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070
Donthu, N., Kumar, S., & Pattnaik, D. (2021). The Journal of Consumer Marketing at age 35: a retrospective overview. Journal of Consumer Marketing, 38(2), 178–190. https://doi.org/10.1108/JCM-06-2020-3876
Egghe, L. (2006). Theory and practise of the g-index. Scientometrics, 69(1), 131–152. https://doi.org/10.1007/s11192-006-0144-7
García-Sánchez, P., Mora, A. M., Castillo, P. A., & Pérez, I. J. (2019). A bibliometric study of the research area of videogames using Dimensions.ai database. In E. Herrera-Viedma, Y. Shi, D. Berg, J. Tien, F. J. Cabrerizo, & J. Li (Eds.), 7th International Conference on Information Technology and Quantitative Management, ITQM 2019 (Vol. 162, pp. 737–744). Elsevier B.V. https://doi.org/10.1016/j.procs.2019.12.045
Handoko, L. H. (2021). COVID-19 research trends in the fields of economics and business in the Scopus database in November 2020. Science Editing, 8(1), 64–71. https://doi.org/10.6087/kcse.231
He, P., Sun, Y., Zhang, Y., & Li, T. (2020). COVID–19’s Impact on Stock Prices Across Different Sectors—An Event Study Based on the Chinese Stock Market. Emerging Markets Finance and Trade, 56(10), 2198–2212. https://doi.org/10.1080/1540496X.2020.1785865
Hirsch, J. E. (2005). An index to quantify an individual’s scientific research output. Proceedings of the National Academy of Sciences, 102(46), 16569–16572. https://doi.org/10.1073/pnas.0507655102
Iyer, S. R., & Simkins, B. J. (2022). COVID-19 and the Economy: Summary of research and future directions. Finance Research Letters, 47, 102801. https://doi.org/10.1016/j.frl.2022.102801
Kumar, R., Firoz, M., & Kumar, P. (2021). Renaissance of Alternate Finance: Bibliometric Visualization of Private Equity and Venture Capital. The Journal of Wealth Management, 24(2), 114–128. https://doi.org/10.3905/jwm.2021.1.142
Liu, Z., Huynh, T. L. D., & Dai, P.-F. (2021). The impact of COVID-19 on the stock market crash risk in China. Research in International Business and Finance, 57, 101419. https://doi.org/10.1016/j.ribaf.2021.101419
Lyócsa, Š., Baumöhl, E., Výrost, T., & Molnár, P. (2020). Fear of the coronavirus and the stock markets. Finance Research Letters, 36, 101735. https://doi.org/10.1016/j.frl.2020.101735
Martínez-López, F. J., Merigó, J. M., Valenzuela-Fernández, L., & Nicolás, C. (2018). Fifty years of the European Journal of Marketing: a bibliometric analysis. European Journal of Marketing, 52(1–2), 439–468. https://doi.org/10.1108/EJM-11-2017-0853
Martín-Martín, A., Thelwall, M., Orduna-Malea, E., & Delgado López-Cózar, E. (2021). Google Scholar, Microsoft Academic, Scopus, Dimensions, Web of Science, and OpenCitations’ COCI: a multidisciplinary comparison of coverage via citations. Scientometrics, 126(1), 871–906. https://doi.org/10.1007/s11192-020-03690-4
Maverick, J. B. (2021, December 15). What’s the Difference Between the Equity Market and the Stock Market?
Mazur, M., Dang, M., & Vega, M. (2021). COVID-19 and the march 2020 stock market crash. Evidence from S&P1500. Finance Research Letters, 38, 101690. https://doi.org/10.1016/j.frl.2020.101690
Okorie, D. I., & Lin, B. (2021). Stock markets and the COVID-19 fractal contagion effects. Finance Research Letters, 38, 101640. https://doi.org/10.1016/j.frl.2020.101640
Phan, D. H. B., & Narayan, P. K. (2020). Country Responses and the Reaction of the Stock Market to COVID-19—a Preliminary Exposition. Emerging Markets Finance and Trade, 56(10), 2138–2150. https://doi.org/10.1080/1540496X.2020.1784719
R Core Team. (2022). R: What is R. R Foundation for Statistical Computing. https://www.r-project.org/about.html
R Studio. (2022). R Studio. https://www.rstudio.com/about/
Rusydiana, A. S., Taqi, M., Firmansyah, I., Assalafiyah, A., & Kustiningsih, N. (2020). A Bibliometric Analysis of Islamic Accounting Research Indexed by Dimensions.ai. Library Philosophy and Practice, 2020, 1–15. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85101074898&partnerID=40&md5=50c228619d6e4a4865d1c06af2875dfc
Salisu, A. A., Akanni, L., & Raheem, I. (2020). The COVID-19 global fear index and the predictability of commodity price returns. Journal of Behavioral and Experimental Finance, 27, 100383. https://doi.org/10.1016/j.jbef.2020.100383
Salisu, A. A., Ebuh, G. U., & Usman, N. (2020). Revisiting oil-stock nexus during COVID-19 pandemic: Some preliminary results. International Review of Economics & Finance, 69, 280–294. https://doi.org/10.1016/j.iref.2020.06.023
Siering, M., Zimmermann, K., Haferkorn, M., & ACM SIGMIS; Georgia State University, J. M. R. C. of B. I. S. A. P. U. A. T. U. of A. B. S. (2014). Read this! How to boost the interest towards research articles - A study on SSRN research impact. 35th International Conference on Information Systems: Building a Better World Through Information Systems, ICIS 2014. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85107714004&partnerID=40&md5=fd9bc3b7b1eb17e13ad86c8c5340702a
Singh, V. K., Singh, P., Karmakar, M., Leta, J., & Mayr, P. (2021). The journal coverage of Web of Science, Scopus and Dimensions: A comparative analysis. Scientometrics, 126(6), 5113–5142. https://doi.org/10.1007/s11192-021-03948-5
van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3
Zulfikar, Z. (2022). Bibliometric analysis of stock market performance throughout the COVID-19 outbreak. Investment Management and Financial Innovations, 19(2), 14–23. https://doi.org/10.21511/imfi.19(2).2022.02
Downloads
Published
Issue
Section
License
Copyright (c) 2022 Jurnal Administrasi Bisnis
This work is licensed under a Creative Commons Attribution 4.0 International License.
The submitted article has never been previously publish in scientific journals, proceedings, or other electronic journals. The copyright of the accepted articles are belongs to Jurnal Administrasi Bisnis (JAB).