The Knowledge Structure, Emerging Trends, and Future Directions of Stock Market Volatility Research: A Bibliometric Review
The Knowledge Structure, Emerging Trends, and Future Directions of Stock Market Volatility Research: A Bibliometric Review

Summary/Abstract: This bibliometric review examines the evolution of stock market volatility (SMV) research by analyzing 1,949 publications indexed in Scopus between 1980 and 2025. The study provides valuable insights into major research trends, influential contributions, and emerging themes, while highlighting potential directions for future research in the field. The research aimed to identify influential elements within the literature and perform a comprehensive analysis. The study investigated two direct research streams through a systematic review approach and conducted a network analysis of keywords and documents supported by content analysis. The findings suggested several areas for future research, including Islamic stock markets, structural breaks, cryptocurrency, economic policy uncertainty, and futures. Notably, hybrid models like ANN-GARCH, Wavelet-GARCH, and Copula-GARCH were found to have received limited attention, limited work is available on emotional and behavioural dimensions in the context of stock market volatility, which needs to be addressed through sentiment-driven modelling using NLP and social media indicators. Moreover, few studies are available related to comparative analysis across market segments & require panel Data-based Studies. The study covered various aspects of stock market volatility, encompassing models, applications, and empirical properties. The study comprehensively covers models, applications, and empirical properties of stock market volatility. Additionally, the study offered practical implications and recommendations for regulators (to make informed decisions regarding policy development and implementation) and portfolio managers (understanding of influential elements in stock market volatility). Overall, this bibliometric review contributes valuable insights to the field, providing a comprehensive knowledge of stock market volatility and paving the way for further research.

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