Purpose : Citations are considered the currency of academic credibility and scholarly productivity, measured through the citations received. This study is an in-depth analysis of the Indian Journal of Finance (IJF) through the lens of citation analysis. The purpose of the study was to identify the trends and patterns of academic studies in the finance and economics stream in India.

Design/Methodology/Approach : A citation-based bibliometric approach was applied to analyze 768 articles published in the Indian Journal of Finance during 2010–2025. The data were retrieved from the Scopus database on April 10, 2025, using the advanced search query: SRCTITLE (“Indian Journal of Finance”) AND PUBYEAR > 2009 AND PUBYEAR < 2026 AND DOCTYPE(ar). Citation analysis and keyword co-occurrence analysis were conducted through VOSviewer.

Findings : Analysis of 768 articles published in the Indian Journal of Finance from 2010 to April 2025 revealed that 693 (90.23%) contributions originated from Indian institutions. Keyword analysis showed that scholarly contributions in the Indian Journal of Finance during the study period were systematically grouped into seven thematic clusters. The top five scholars were identified based on their publication contribution, while five seminal publications were identified based on their citation impact during the study period. This study’s findings also highlighted that higher publication volume does not necessarily correspond to greater citation impact.

Practical Implications : The findings suggested meaningful insights for journal editors, researchers, academic institutions, and policymakers by identifying influential authors, high-impact research themes, and citation trends. The findings can also act as inputs for framing editorial policy and to encourage high-quality collaborative research, which can enhance the journal’s international visibility.

1. 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
2. Baker, D. R. (1990). Citation analysis: A methodological review. Social Work Research and Abstracts, 26(3), 3–10. https://doi.org/10.1093/swra/26.3.3
3. Baker, H. K., Kumar, S., & Pattnaik, D. (2020). Twenty-five years of Review of Financial Economics: A bibliometric overview. Review of Financial Economics, 38(1), 3–23. https://doi.org/10.1002/rfe.1095
4. Bhanumurthy, K. V., Singh, A. K., & Aggarwal, A. (2019). Macroeconomic antecedents of stock returns and exchange rate. Indian Journal of Finance, 13(6), 29–53. https://doi.org/10.17010/ijf/2019/v13i6/144848
5. Chakraborty, S., & Digal, S. K. (2015). Empirical evidence of household savings objectives: A demographic comparison. Indian Journal of Finance, 9(10), 36–47. https://doi.org/10.17010/ijf/2015/v9i10/79560
6. Ding, Y. (2011). Scientific collaboration and endorsement: Network analysis of coauthorship and citation networks. Journal of Informetrics, 5(1), 187–203. https://doi.org/10.1016/j.joi.2010.10.008
7. Ding, Y., Zhang, G., Chambers, T., Song, M., Wang, X., & Zhai, C. (2014). Content-based citation analysis: The next generation of citation analysis. Journal of the Association for Information Science and Technology, 65(9), 1820–1833. https://doi.org/10.1002/asi.23256
8. 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
9. Garfield, E. (1972). Citation analysis as a tool in journal evaluation: Journals can be ranked by frequency and impact of citations for science policy studies. Science, 178(4060), 471–479. https://doi.org/10.1126/science.178.4060.471
10. Gaur, A., & Bansal, M. (2010). A comparative study of gold price movements in Indian and global markets. Indian Journal of Finance, 4(2), 32–37. https://www.indianjournaloffinance.co.in/index.php/IJF/article/view/72636
11. Gill, K., Kumar, H., & Singh, A. K. (2023). Evaluating the efficiency of the global cryptocurrency market. Indian Journal of Finance, 17(11), 8–25. https://doi.org/10.17010/ijf/2023/v17i11/173325
12. Gupta, A. (2013a). New generation corporate financial statements: A model for old format's conversion and comparative value analysis. Indian Journal of Finance, 7(2), 27–42. https://indianjournalofmarketing.com/index.php/IJF/article/view/72145
13. Gupta, A. (2013b). The IPO market in India: Perspective, prospects, and growth strategies. Indian Journal of Finance, 7(12), 7–18. https://indianjournalofmarketing.com/index.php/IJF/article/view/72055
14. Gupta, A. (2014). A study into the impact of IFRS (Ind AS) 'borrowing costs' on corporate financials and government revenues. Indian Journal of Finance, 8(4), 17–27. https://doi.org/10.17010/ijf/2014/v8i4/71920
15. Gupta, A. (2015). Compliance with non-mandatory (voluntary) norms of corporate governance: Evidence from India. Indian Journal of Finance, 9(3), 7–23. https://doi.org/10.17010/ijf/2015/v9i3/71511
16. Gupta, A. (2018). Evaluation of the impact of IND AS 113 fair value measurement on financial statements. Indian Journal of Finance, 12(11), 7–22. https://doi.org/10.17010/ijf/2018/v12i11/138194
17. Gupta, A. (2019). A study into the acceptance level of corporate governance code 2008 by Dutch listed companies. Indian Journal of Finance, 13(5), 25–36. https://doi.org/10.17010/ijf/2019/v13i5/144183
18. Hicks, D., Wouters, P., Waltman, L., de Rijcke, S., & Rafols, I. (2015). Bibliometrics: The Leiden Manifesto for research metrics. Nature, 520(7548), 429–431. https://doi.org/10.1038/520429a
19. Kesse, G. O., Irfan, M., & Pattanayak, J. K. (2019). Impact of intellectual capital on financial performance of firms: A study on tourism and hospitality firms in India. Indian Journal of Finance, 13(2), 7–21. https://doi.org/10.17010/ijf/2019/v13i2/141683
20. Kessler, M. M. (1963). Bibliographic coupling between scientific papers. American Documentation, 14(1), 10–25. https://doi.org/10.1002/asi.5090140103
21. Khuntia, S., & Pattanayak, J. K. (2017). Dynamics of Indian foreign exchange market efficiency: An adaptive market hypothesis approach. Indian Journal of Finance, 11(9), 39–52. https://doi.org/10.17010/ijf/2017/v11i9/118088
22. Kumari, P., & Pattanayak, J. K. (2015). The trend of earnings management practices in the Indian financial sector. Indian Journal of Finance, 9(9), 44–54. https://doi.org/10.17010/ijf/2015/v9i9/77197
23. Laengle, S., Merigó, J. M., Miranda, J., Słowiński, R., Bomze, I., Borgonovo, E., Dyson, R. G., Oliveira, J. F., & Teunter, R. (2017). Forty years of the European Journal of Operational Research: A bibliometric overview. European Journal of Operational Research, 262(3), 803–816. https://doi.org/10.1016/j.ejor.2017.04.027
24. Ledwani, S., Chakraborty, S., & Digal, S. K. (2022). The evolution of Indian Journal of Finance: A retrospective review and future directions. Indian Journal of Finance, 16(4), 8–30. https://doi.org/10.17010/ijf/2022/v16i4/169172
25. Ledwani, S., & Chakraborty, S. (2023). Evaluation of pooled cross-sectional earnings forecasting models: An Indian evidence. Indian Journal of Finance, 17(8), 8–26. https://doi.org/10.17010/ijf/2023/v17i8/173008
26. Lithin, B. M., Chakraborty, S., & Nikhil, M. N. (2023). Are liquidity and credit risk key determinants of corporate credit spreads (CCS) in India? Indian Journal of Finance, 17(6), 8–26. https://doi.org/10.17010/ijf/2023/v17i6/172773
27. Lotka, A. J. (1926). The frequency distribution of scientific productivity. Journal of the Washington Academy of Sciences, 16(12), 317–323. https://www.jstor.org/stable/24529203
28. Ludhani, K. K., Kumar, S., & Panda, S. K. (2023). A bibliometric overview of 'Prabandhan: Indian Journal of Management' between 2011 and 2021. Prabandhan: Indian Journal of Management, 16(1), 8–24. https://doi.org/10.17010/pijom/2023/v16i1/172666
29. Makhija, R., Aggarwal, S., & Singh, Y. (2025). AI-driven hybrid learning for sustainable development: A bibliometric analysis and systematic literature review. Prabandhan: Indian Journal of Management, 18(9), 29–53. https://doi.org/10.17010/pijom/2025/v18i9/174842
30. Merigó, J. M., Mas-Tur, A., Roig-Tierno, N., & Ribeiro-Soriano, D. (2015). A bibliometric overview of the Journal of Business Research between 1973 and 2014. Journal of Business Research, 68(12), 2645–2653. https://doi.org/10.1016/j.jbusres.2015.04.006
31. Merton, R. K. (1973). The sociology of science: Theoretical and empirical investigations. University of Chicago Press.
32. Mohapatra, A. K., Das, S., Jha, S., & Nayak, Y. (2025). Decoding the meta effect of green transformational leadership on green creativity through subgroup analysis. Prabandhan: Indian Journal of Management, 18(5), 50–67. https://doi.org/10.17010/pijom/2025/v18i5/174411
33. Nayyar, A., & Singh, I. (2018). A comprehensive analysis of Goods and Services Tax (GST) in India. Indian Journal of Finance, 12(2), 57–71. https://doi.org/10.17010/ijf/2018/v12i2/121377
34. Pandey, A., & Pattanayak, J. K. (2018). Impact of firm- specific and macro-economic factors on the level of underpricing of initial public offerings (IPOs): Evidence from the Indian market. Indian Journal of Finance, 12(2), 7–25. https://doi.org/10.17010/ijf/2018/v12i2/121367
35. Patel, R. J. (2017). Co-movement and integration among stock markets: A study of 14 countries. Indian Journal of Finance, 11(9), 53–66. https://doi.org/10.17010/ijf/2017/v11i9/118089
36. Patro, B., & Pattanayak, J. K. (2017). Association of CSR disclosure with accounting conservatism: A study of select Indian mining firms. Indian Journal of Finance, 11(3), 7–25. https://doi.org/10.17010/ijf/2017/v11i3/111646
37. Pritchard, A. (1969). Statistical bibliography or bibliometrics? Journal of Documentation, 25(4), 348–349. https://doi.org/10.1108/eb026482
38. Sharma, G. D., Mahendru, M., & Singh, S. (2013). Are the stock exchanges of emerging economies interlinked? Evidence from BRICS. Indian Journal of Finance, 7(1), 26–37. https://www.indianjournaloffinance.co.in/index.php/IJF/article/view/72149
39. Shobha, T. S., & Chakraborty, S. (2017). Psychological factors contributing to the financial well-being of an individual: A review of empirical literature. Indian Journal of Finance, 11(10), 51–66. https://doi.org/10.17010/ijf/2017/v11i10/118775
40. Singh, A. K., & Shrivastav, R. K. (2018). Evaluating the impact of the global financial crisis on the stock markets of BRICS countries. Indian Journal of Finance, 12(7), 7–27. https://doi.org/10.17010/ijf/2018/v12i7/129967
41. Singh, A. K., & Anand, A. (2020). A study on listing day price performance of BSE SME IPOs and its determinants. Indian Journal of Finance, 14(5–7), 44–61. https://doi.org/10.17010/ijf/2020/v14i5-7/153324
42. Singh, A. K., Jain, M. K., Jain, S., & Gupta, B. (2021). A new modus operandi for determining post - IPO pricing: Analysis of Indian IPOs using artificial neural networks. Indian Journal of Finance, 15(1), 8–22. https://doi.org/10.17010/ijf/2021/v15i1/157011
43. Singh, A. K., & Bansal, P. (2022). Financial crisis and leverage determinants: A juxtaposition of pre- and post-crisis periods using HLM. Indian Journal of Finance, 16(6), 8–26. https://doi.org/10.17010/ijf/2022/v16i6/169924
44. Singh, A. K., Gill, K., & Kalra, S. (2023). Evaluation of nexus between short-run return measures of IPOs in India. Indian Journal of Finance, 17(4), 8–26. https://doi.org/10.17010/ijf/2023/v17i4/172696
45. Singh, A. K., Shrivastav, R. K., & Chapagain, R. (2024). Sustainable financing initiatives and bank performance: A bibliometric analysis. Indian Journal of Finance, 18(8), 22–43. https://doi.org/10.17010/ijf/2024/v18i8/174241
46. Singh, A. K., Bansal, P., & Latha, K. (2025). Changing dynamics of leverage determinants: A comprehensive study of firms listed in India. Indian Journal of Finance, 19(2), 8–26. https://doi.org/10.17010/ijf/2025/v19i2/174768
47. Slivka, R. T., Aggarwal, P., & Sisodia, R. (2012). Securities transaction tax reduction and stock-futures arbitrage in India: A case study. Indian Journal of Finance, 6(8), 4–11. https://www.indianjournaloffinance.co.in/index.php/IJF/article/view/72398
48. Slivka, R. T., Wu, J., & Shah, V. (2012). Arbitrage of single stocks versus futures in India: A case study. Indian Journal of Finance, 6(1), 11–18. https://www.indianjournalofentrepreneurship.com/index.php/IJF/article/view/72454
49. Slivka, R. T., Keswani, V., & Li, X. (2014). Trend following algorithms on India's Nifty Index. Indian Journal of Finance, 8(1), 5–14. https://doi.org/10.17010/ijf/2014/v8i1/71980
50. Slivka, R. T., Gao, S., & Ren, J. (2015). An empirical model of India's Nifty VIX Index. Indian Journal of Finance, 9(8), 7–18. https://doi.org/10.17010/ijf/2015/v9i8/74559
51. Slivka, R. T., & Biryol, C. (2015). Stock index arbitrage in the Turkish market. Indian Journal of Finance, 9(11), 7–18. https://doi.org/10.17010/ijf/2015/v9i11/81101
52. Slivka, R. T., Yang, J., & Wan, W. (2017). Nifty futures rollover strategies. Indian Journal of Finance, 11(7), 7–21. https://doi.org/10.17010/ijf/2017/v11i7/116563
53. Slivka, R. T., Qin, H., & Ye, K. (2018). Stock index futures rollover strategies: An empirical study of four countries. Indian Journal of Finance, 12(5), 7–24. https://doi.org/10.17010/ijf/2018/v12i5/123688
54. Slivka, R. T., Liang, Y., & Xue, J. (2020). An empirical study of Nifty 50 option time spreads. Indian Journal of Finance, 14(8–9), 8–19. https://doi.org/10.17010/ijf/2020/v14i8-9/154944
55. Small, H. (1973). Co-citation in the scientific literature: A new measure of the relationship between two documents. Journal of the American Society for Information Science, 24(4), 265–269. https://doi.org/10.1002/asi.4630240406
56. 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
57. Verma, Y., & Garg, P. (2016). Pradhan Mantri Jan Dhan Yojana (PMJDY): A step towards eradicating financial untouchability. Indian Journal of Finance, 10(1), 56–64. https://doi.org/10.17010/ijf/2016/v10i1/85845
58. Zupic, I., & Čater, T. (2015). Bibliometric methods in management and organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629