Innovation in finance: a bibliometric and content-analysis study

Abstract

Purpose

Finance continuously evolves as the technological innovation progresses in the society. Numerous prior studies have discussed emerging financial services due to this innovation. However, limited scholarly work has evaluated the trends and state of the art of financial innovation. Therefore, this study aims to review recent literature on financial innovation by using a bibliometric and content-analysis approach.

Design/methodology/approach

Documents for this study are sampled from financial innovation, a journal focusing on recent innovations in finance. A total of 354 peer-reviewed articles published in eight years (2015–2022) are first examined and mapped using the bibliometrix package in RStudio software. Furthermore, content analysis was performed to investigate the adopted research methods and types, and produce directions for future studies.

Findings

The trend of financial innovation research kept increasing, with China as the leader in publication quantity, affiliation productivity and paper citation acquisition. Topics related to “FinTech,” “Bitcoin” and “Covid-19” have been the most discussed topics by financial innovation researchers. FinTech and Bitcoin studies are expected to grow in emerging countries like China, India and Pakistan. The study also indicates that most financial innovation studies use quantitative research methods and are categorized as empirical papers.

Originality/value

This study contributes to the finance literature by comprehensively evaluating current research on financial innovation using one specific journal in the field. Also, this study examines financial innovation literature using different approaches from previous bibliometric financial innovation studies.

Citation

Firmansyah, E.A., Masri, M., Anshari, M. and Besar, M.H.A. (2024), "Innovation in finance: a bibliometric and content-analysis study", Nankai Business Review International, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/NBRI-08-2023-0071