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Bibliometric Analysis of Green Finance Research Using Science Mapping Technique

Yıl 2025, Cilt: 10 Sayı: 1, 91 - 123, 28.02.2025
https://doi.org/10.25229/beta.1554864

Öz

The increasing importance of green finance in the global financial system has led to a surge in related research. However, a comprehensive bibliometric analysis of the green finance literature remains limited. This study aims to analyze the structure of green finance research using VOSviewer. The motivations behind this study include identifying the main themes and trends in green finance research, profiling the leading authors, institutions, and countries contributing to the field, and understanding the relationships between different research clusters within green finance.
A total of 617 publications from 2009 to 2024 were analyzed. The bibliometric analysis results reveal prominent themes and trends in the green finance literature. Additionally, examining the most cited authors, influential institutions, and geographical distribution helps identify key stakeholders in this field. The findings indicate that publications in "Green Finance" are limited, reflecting its status as an emerging area of research. However, as environmental issues escalate, academic interest in this field is expected to grow. This study provides a solid foundation for future green finance research.

Etik Beyan

This study which does not require ethics committee approval and/or legal/specific permission complies with the research and publication ethics.

Kaynakça

  • Afzal, A., Rasoulinezhad, E., & Malik, Z. (2022). Green finance and sustainable development in Europe. Economic research-Ekonomska istraživanja, 35(1), 5150-5163.
  • Banga, J. (2019). The green bond market: a potential source of climate finance for developing countries. Journal of Sustainable Finance & Investment, 9(1), 17-32.
  • Broadstock, D. C., & Cheng, L. T. (2019). Time-varying relation between black and green bond price benchmarks: Macroeconomic determinants for the first decade. Finance research letters, 29, 17-22.
  • Callon, M., Courtial, J. P., Turner, W. A., & Bauin, S. (1983). From translations to problematic networks: An introduction to co-word analysis. Social science information, 22(2), 191-235.
  • Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives and the promotion of green finance. Ecological Economics, 184, 107022.
  • Dorfleitner, G., & Braun, D. (2019). Fintech, digitalization and blockchain: possible applications for green finance. The rise of green finance in Europe: opportunities and challenges for issuers, investors and marketplaces, 207-237.
  • Flammer, C. (2021). Corporate green bonds. Journal of financial economics, 142(2), 499-516.
  • Goglio, S., & Catturani, I. (2019). Sustainable Finance: A Common Ground for the Future in Europe?. The Rise of Green Finance in Europe: Opportunities and Challenges for Issuers, Investors and Marketplaces, 239-261.
  • He, L., Liu, R., Zhong, Z., Wang, D., & Xia, Y. (2019). Can green financial development promote renewable energy investment efficiency? A consideration of bank credit. Renewable Energy, 143, 974-984.
  • Ho, Y. S., & Wang, M. H. (2020). A bibliometric analysis of artificial intelligence publications from 1991 to 2018. COLLNET journal of scientometrics and information management, 14(2), 369-392.
  • Hou, Q., Mao, G., Zhao, L., Du, H., & Zuo, J. (2015). Mapping the scientific research on life cycle assessment: a bibliometric analysis. The International Journal of Life Cycle Assessment, 20, 541-555.
  • Le, T. L., Abakah, E. J. A., & Tiwari, A. K. (2021). Time and frequency domain connectedness and spill-over among fintech, green bonds and cryptocurrencies in the age of the fourth industrial revolution. Technological Forecasting and Social Change, 162, 120382.
  • Lee, I. S., Lee, H., Chen, Y. H., & Chae, Y. (2020). Bibliometric analysis of research assessing the use of acupuncture for pain treatment over the past 20 years. Journal of Pain Research, 367-376.
  • Lee, C. C., Lee, C. C., & Li, Y. Y. (2021). Oil price shocks, geopolitical risks, and green bond market dynamics. The North American Journal of Economics and Finance, 55, 101309.
  • Lee, C. C., & Lee, C. C. (2022). How does green finance affect green total factor productivity? Evidence from China. Energy economics, 107, 105863.
  • Lv, C., Bian, B., Lee, C. C., & He, Z. (2021). Regional gap and the trend of green finance development in China. Energy Economics, 102, 105476.
  • Maliha, H. (2023). A Review on Bibliometric Application Software. Scientometrics Letters, 1(1).
  • Meo, M. S., & Abd Karim, M. Z. (2022). The role of green finance in reducing CO2 emissions: An empirical analysis. Borsa Istanbul Review, 22(1), 169-178.
  • Nguyen, T. T. H., Naeem, M. A., Balli, F., Balli, H. O., & Vo, X. V. (2021). Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds. Finance Research Letters, 40, 101739.
  • Pritchard, A. (1969). Statistical bibliography or bibliometrics. Journal of documentation, 25, 348-349.
  • Razzaq, A., Sharif, A., & Yang, X. (2022). Influence mechanism between green finance and green innovation: exploring regional policy intervention effects in China. Technological Forecasting and Social Change, 182, 121882.
  • Reboredo, J. C., Ugolini, A., & Aiube, F. A. L. (2020). Network connectedness of green bonds and asset classes. Energy Economics, 86, 104629.
  • Sharfman, M. P., & Fernando, C. S. (2008). Environmental risk management and the cost of capital. Strategic management journal, 29(6), 569-592.
  • Taghizadeh-Hesary, F., & Yoshino, N. (2019). The way to induce private participation in green finance and investment. Financ Res Lett 31: 98–103.
  • Tiwari, A. K., Abakah, E. J. A., Gabauer, D., & Dwumfour, R. A. (2022). Dynamic spillover effects among green bond, renewable energy stocks and carbon markets during COVID-19 pandemic: Implications for hedging and investments strategies. Global Finance Journal, 51, 100692.
  • Wen, H., Lee, C. C., & Zhou, F. (2022). How does fiscal policy uncertainty affect corporate innovation investment? Evidence from China's new energy industry. Energy Economics, 105, 105767.
  • Yu, C. H., Wu, X., Zhang, D., Chen, S., & Zhao, J. (2021). Demand for green finance: Resolving financing constraints on green innovation in China. Energy policy, 153, 112255.
  • Zerbib, O. D. (2019). The effect of pro-environmental preferences on bond prices: Evidence from green bonds. Journal of banking & finance, 98, 39-60.
  • Zhang, D., Mohsin, M., Rasheed, A. K., Chang, Y., & Taghizadeh-Hesary, F. (2021). Public spending and green economic growth in BRI region: mediating role of green finance. Energy Policy, 153, 112256.
  • Zhou, G., Zhu, J., & Luo, S. (2022). The impact of fintech innovation on green growth in China: Mediating effect of green finance. Ecological Economics, 193, 107308.

Yeşil Finans Araştırmalarının Bilim Haritalama Teknikleriyle Bibliyometrik Analizi

Yıl 2025, Cilt: 10 Sayı: 1, 91 - 123, 28.02.2025
https://doi.org/10.25229/beta.1554864

Öz

Küresel finansal sistemde yeşil finansın artan önemi, bu alandaki araştırmaların çoğalmasına yol açmıştır. Ancak, yeşil finans literatürünün kapsamlı bir bibliyometrik analizi henüz yeterince yapılmamıştır. Bu çalışma, yeşil finans araştırmalarının yapısını VOSviewer kullanarak incelemeyi amaçlamaktadır. Bu çalışmaya yön veren motivasyonlar arasında yeşil finans araştırmalarındaki ana temaların ve eğilimlerin belirlenmesi, bu alana katkıda bulunan önde gelen yazarların, kurumların ve ülkelerin profilinin çıkarılması ve yeşil finanstaki farklı araştırma kümeleri arasındaki ilişkilerin anlaşılması yer almaktadır.
2009’dan 2024’e kadar toplam 617 yayın incelenmiştir. Bibliyometrik analiz sonuçları, yeşil finans literatüründe belirli temaların ve trendlerin öne çıktığını göstermektedir. Ayrıca, en çok atıf alan yazarlar, etkili kurumlar ve coğrafi dağılımın incelenmesi, bu alandaki önemli paydaşların belirlenmesine yardımcı olmaktadır. Sonuçlar, "Yeşil Finans" alanında yapılan yayınların sınırlı sayıda olduğunu ve bu alanın yeni gelişmekte olduğunu göstermektedir. Ancak, çevresel sorunların artmasıyla bu alandaki akademik ilginin de artacağı öngörülmektedir. Bu çalışma, yeşil finans araştırmalarının derinlemesine anlaşılmasına ve gelecekteki araştırmalar için sağlam bir temel oluşturmaktadır.

Etik Beyan

Etik kurul onayı ve/veya yasal/özel izin gerektirmeyen bu çalışma, araştırma ve yayın etiğine uygundur.

Kaynakça

  • Afzal, A., Rasoulinezhad, E., & Malik, Z. (2022). Green finance and sustainable development in Europe. Economic research-Ekonomska istraživanja, 35(1), 5150-5163.
  • Banga, J. (2019). The green bond market: a potential source of climate finance for developing countries. Journal of Sustainable Finance & Investment, 9(1), 17-32.
  • Broadstock, D. C., & Cheng, L. T. (2019). Time-varying relation between black and green bond price benchmarks: Macroeconomic determinants for the first decade. Finance research letters, 29, 17-22.
  • Callon, M., Courtial, J. P., Turner, W. A., & Bauin, S. (1983). From translations to problematic networks: An introduction to co-word analysis. Social science information, 22(2), 191-235.
  • Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives and the promotion of green finance. Ecological Economics, 184, 107022.
  • Dorfleitner, G., & Braun, D. (2019). Fintech, digitalization and blockchain: possible applications for green finance. The rise of green finance in Europe: opportunities and challenges for issuers, investors and marketplaces, 207-237.
  • Flammer, C. (2021). Corporate green bonds. Journal of financial economics, 142(2), 499-516.
  • Goglio, S., & Catturani, I. (2019). Sustainable Finance: A Common Ground for the Future in Europe?. The Rise of Green Finance in Europe: Opportunities and Challenges for Issuers, Investors and Marketplaces, 239-261.
  • He, L., Liu, R., Zhong, Z., Wang, D., & Xia, Y. (2019). Can green financial development promote renewable energy investment efficiency? A consideration of bank credit. Renewable Energy, 143, 974-984.
  • Ho, Y. S., & Wang, M. H. (2020). A bibliometric analysis of artificial intelligence publications from 1991 to 2018. COLLNET journal of scientometrics and information management, 14(2), 369-392.
  • Hou, Q., Mao, G., Zhao, L., Du, H., & Zuo, J. (2015). Mapping the scientific research on life cycle assessment: a bibliometric analysis. The International Journal of Life Cycle Assessment, 20, 541-555.
  • Le, T. L., Abakah, E. J. A., & Tiwari, A. K. (2021). Time and frequency domain connectedness and spill-over among fintech, green bonds and cryptocurrencies in the age of the fourth industrial revolution. Technological Forecasting and Social Change, 162, 120382.
  • Lee, I. S., Lee, H., Chen, Y. H., & Chae, Y. (2020). Bibliometric analysis of research assessing the use of acupuncture for pain treatment over the past 20 years. Journal of Pain Research, 367-376.
  • Lee, C. C., Lee, C. C., & Li, Y. Y. (2021). Oil price shocks, geopolitical risks, and green bond market dynamics. The North American Journal of Economics and Finance, 55, 101309.
  • Lee, C. C., & Lee, C. C. (2022). How does green finance affect green total factor productivity? Evidence from China. Energy economics, 107, 105863.
  • Lv, C., Bian, B., Lee, C. C., & He, Z. (2021). Regional gap and the trend of green finance development in China. Energy Economics, 102, 105476.
  • Maliha, H. (2023). A Review on Bibliometric Application Software. Scientometrics Letters, 1(1).
  • Meo, M. S., & Abd Karim, M. Z. (2022). The role of green finance in reducing CO2 emissions: An empirical analysis. Borsa Istanbul Review, 22(1), 169-178.
  • Nguyen, T. T. H., Naeem, M. A., Balli, F., Balli, H. O., & Vo, X. V. (2021). Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds. Finance Research Letters, 40, 101739.
  • Pritchard, A. (1969). Statistical bibliography or bibliometrics. Journal of documentation, 25, 348-349.
  • Razzaq, A., Sharif, A., & Yang, X. (2022). Influence mechanism between green finance and green innovation: exploring regional policy intervention effects in China. Technological Forecasting and Social Change, 182, 121882.
  • Reboredo, J. C., Ugolini, A., & Aiube, F. A. L. (2020). Network connectedness of green bonds and asset classes. Energy Economics, 86, 104629.
  • Sharfman, M. P., & Fernando, C. S. (2008). Environmental risk management and the cost of capital. Strategic management journal, 29(6), 569-592.
  • Taghizadeh-Hesary, F., & Yoshino, N. (2019). The way to induce private participation in green finance and investment. Financ Res Lett 31: 98–103.
  • Tiwari, A. K., Abakah, E. J. A., Gabauer, D., & Dwumfour, R. A. (2022). Dynamic spillover effects among green bond, renewable energy stocks and carbon markets during COVID-19 pandemic: Implications for hedging and investments strategies. Global Finance Journal, 51, 100692.
  • Wen, H., Lee, C. C., & Zhou, F. (2022). How does fiscal policy uncertainty affect corporate innovation investment? Evidence from China's new energy industry. Energy Economics, 105, 105767.
  • Yu, C. H., Wu, X., Zhang, D., Chen, S., & Zhao, J. (2021). Demand for green finance: Resolving financing constraints on green innovation in China. Energy policy, 153, 112255.
  • Zerbib, O. D. (2019). The effect of pro-environmental preferences on bond prices: Evidence from green bonds. Journal of banking & finance, 98, 39-60.
  • Zhang, D., Mohsin, M., Rasheed, A. K., Chang, Y., & Taghizadeh-Hesary, F. (2021). Public spending and green economic growth in BRI region: mediating role of green finance. Energy Policy, 153, 112256.
  • Zhou, G., Zhu, J., & Luo, S. (2022). The impact of fintech innovation on green growth in China: Mediating effect of green finance. Ecological Economics, 193, 107308.
Toplam 30 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Uluslararası Finans
Bölüm Araştırma Makaleleri
Yazarlar

Havva Koç 0000-0002-0906-1438

Erken Görünüm Tarihi 27 Şubat 2025
Yayımlanma Tarihi 28 Şubat 2025
Gönderilme Tarihi 23 Eylül 2024
Kabul Tarihi 17 Aralık 2024
Yayımlandığı Sayı Yıl 2025 Cilt: 10 Sayı: 1

Kaynak Göster

APA Koç, H. (2025). Bibliometric Analysis of Green Finance Research Using Science Mapping Technique. Bulletin of Economic Theory and Analysis, 10(1), 91-123. https://doi.org/10.25229/beta.1554864

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