Financial Derivatives in Banking and Finance: A Bibliometric Overview of Research Trends
Article Sidebar
Main Article Content
Abstract
This study provides a bibliometric analysis of the research trends in financial derivatives within the banking and finance literature. By examining citation patterns, co-authorship networks, and keyword co-occurrences, the study identifies key research themes and their evolution over time. The analysis reveals the central role of derivatives in risk management and financial stability, particularly in the wake of financial crises. It highlights the growth of computational techniques in derivatives pricing and risk management, with an increasing focus on advanced models and simulations. The study also explores the emerging influence of blockchain technology and decentralized finance in reshaping the derivatives landscape. The bibliometric map underscores the global nature of financial derivatives research, with significant contributions from the United States, China, and the United Kingdom. The study provides valuable insights for scholars, practitioners, and policymakers, suggesting areas for further research, particularly in regulatory frameworks, pricing models, and the integration of new technologies in the derivatives market.
Article Details
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
P. Hunt and J. Kennedy, Financial derivatives in theory and practice. John Wiley and Sons, 2004.
B. Uluyol, “Financial derivative instruments and their applications in Islamic banking and finance: Fundamentals, structures and pricing mechanisms,” Borsa Istanbul Rev., vol. 24, pp. 29–37, 2024.
J. F. Sinkey Jr and D. A. Carter, “Evidence on the financial characteristics of banks that do and do not use derivatives,” Q. Rev. Econ. Financ., vol. 40, no. 4, pp. 431–449, 2000.
A. Hirsa, An introduction to the mathematics of financial derivatives. Academic press, 2013.
S. Li and M. Marinč, “The use of financial derivatives and risks of US bank holding companies,” Int. Rev. Financ. Anal., vol. 35, pp. 46–71, 2014.
S. L. Gupta, Financial Derivatives: Theory, concepts and problems. PHI Learning Pvt. Ltd., 2017.
N. Donthu, S. Kumar, D. Mukherjee, N. Pandey, and W. M. Lim, “How to conduct a bibliometric analysis: An overview and guidelines,” J. Bus. Res., vol. 133, pp. 285–296, 2021.
R. M. Stulz, “Financial derivatives,” Milken Inst. Rev., pp. 20–31, 2005.
C. A. Johnson, “At the Intersection of Bank Finance and Derivatives: Who Has the Right of Way,” Tenn. L. Rev., vol. 66, p. 1, 1998.
R. Quail and J. A. Overdahl, Financial Derivatives: Pricing and Risk Management. John Wiley & Sons, 2009.
E. LiPuma and B. Lee, Financial derivatives and the globalization of risk. Duke University Press, 2004.
X. Shen and V. Hartarska, “Derivatives as risk management and performance of agricultural banks,” Agric. Financ. Rev., vol. 73, no. 2, pp. 290–309, 2013.
P. R. Haiss and B. Sammer, “The impact of derivatives markets on financial integration, risk, and economic growth,” Risk, Econ. Growth (August 8, 2010), 2010.
P. Wilmott, S. Howison, and J. Dewynne, The mathematics of financial derivatives: a student introduction. Cambridge university press, 1995.
E. LiPuma and B. Lee, “Financial derivatives and the rise of circulation,” Econ. Soc., vol. 34, no. 3, pp. 404–427, 2005.
D. A. Whidbee and M. Wohar, “Derivative activities and managerial incentives in the banking industry,” J. Corp. Financ., vol. 5, no. 3, pp. 251–276, 1999.
V. A. Lépinay, Codes of finance: Engineering derivatives in a global bank. Princeton University Press, 2015.
S. S. S. Kumar, Financial derivatives. PHI Learning Pvt. Ltd., 2007.
S. Mayordomo, M. Rodriguez-Moreno, and J. I. Peña, “Derivatives holdings and systemic risk in the US banking sector,” J. Bank. Financ., vol. 45, pp. 84–104, 2014.
D. Taşkın and G. Sarıyer, “Use of derivatives, financial stability and performance in Turkish banking sector,” Quant. Financ. Econ., vol. 4, no. 2, pp. 252–273, 2020.
R. Gibson and C. Murawski, “Margining in derivatives markets and the stability of the banking sector,” J. Bank. Financ., vol. 37, no. 4, pp. 1119–1132, 2013.
M. S. Scholes, “Derivatives in a dynamic environment,” Am. Econ. Rev., vol. 88, no. 3, pp. 350–370, 1998.
G. R. Duffee and C. Zhou, “Credit derivatives in banking: Useful tools for managing risk?,” J. Monet. Econ., vol. 48, no. 1, pp. 25–54, 2001.
C.-C. Chang, K.-Y. Ho, and Y.-J. Hsiao, “Derivatives usage for banking industry: evidence from the European markets,” Rev. Quant. Financ. Account., vol. 51, pp. 921–941, 2018.
D. Bryan and M. Rafferty, “Financial derivatives and the theory of money,” Econ. Soc., vol. 36, no. 1, pp. 134–158, 2007.
H. W. Boucher et al., “Bad bugs, no drugs: no ESKAPE! An update from the Infectious Diseases Society of America,” Clin. Infect. Dis., vol. 48, no. 1, pp. 1–12, 2009.
T. Bollerslev, R. Y. Chou, and K. F. Kroner, “ARCH modeling in finance: A review of the theory and empirical evidence,” J. Econom., vol. 52, no. 1–2, pp. 5–59, 1992.
A. J. McNeil, R. Frey, and P. Embrechts, Quantitative risk management: concepts, techniques and tools-revised edition. Princeton university press, 2015.
F. E. Koehn and G. T. Carter, “The evolving role of natural products in drug discovery,” Nat. Rev. Drug Discov., vol. 4, no. 3, pp. 206–220, 2005.
R. Reithinger, J.-C. Dujardin, H. Louzir, C. Pirmez, B. Alexander, and S. Brooker, “Cutaneous leishmaniasis,” Lancet Infect. Dis., vol. 7, no. 9, pp. 581–596, 2007.
I. Graham et al., “European guidelines on cardiovascular disease prevention in clinical practice: executive summary: Fourth Joint Task Force of the European Society of Cardiology and Other Societies on Cardiovascular Disease Prevention in Clinical Practice (Constituted by representatives of nine societies and by invited experts),” Eur. Heart J., vol. 28, no. 19, pp. 2375–2414, 2007.
R. A. Jarrow and S. M. Turnbull, “Pricing derivatives on financial securities subject to credit risk,” J. Finance, vol. 50, no. 1, pp. 53–85, 1995.
D. MacKenzie and Y. Millo, “Constructing a market, performing theory: The historical sociology of a financial derivatives exchange,” Am. J. Sociol., vol. 109, no. 1, pp. 107–145, 2003.
T. Björk, Arbitrage theory in continuous time. Oxford university press, 2009.