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Journal of Islamc
Economcs and Fnance
Studes
INTERNATIONAL
ULU SLA RARA SI İSL AM E KON OMİ Sİ V E F İNA NSI ARA ŞTI RMA LARI DE RGİ Sİ
Abstract
In the contemporary global economy, Islamc fnance and economcs are ganng ncreasng promnence,
wth the Internatonal Journal of Islamc Economcs and Fnance Studes (IJISEF) emergng as a sgnfcant
journal n ths feld. Establshed n 2015 by the Centre of Poltcal Economc and Socal Research (PESA) n
collaboraton wth the Research Centre for Islamc Economcs and Fnance (RECISEF), IJISEF has evolved
nto a key forum for research dscussons on Islamc fnance and economcs. assessng the mpact and
nfluence of journals lke IJISEF s crucal, gven the dynamc nature of academa. Ths paper employs
bblometrc analyss to explore the journal's contrbutons and nfluence. The study spans a nne-year perod,
from the journal's ncepton n 2015 to September 29, 2023, analyzng 173 publcatons usng statstcal tools
such as VOSvewer, Mcrosoft Excel, and Python. Ths comprehensve analyss traces IJISEF's evoluton and
ts growng mpact n the feld of Islamc economcs and fnance globally. The bblometrc study reveals a
sgnfcant ncrease n ctatons for the journal, despte fluctuatons n the number of ssues and publcatons.
Turkey, the journal's country of orgn, remans promnent, though other natons also contrbute
sgnfcantly. Natons such as Indonesa, Malaysa, Ngera, Pakstan, Tunsa, Bangladesh, and Lbya, among
others, actvely contrbute to ths expandng feld. The study recommends ncreasng the number of ssues
publshed and translatng content nto languages such as Turksh. Addtonally, future research should focus
on topcs ncludng the Sustanable Development Goals (SDGs), cryptocurrences, fntech, blockchan, and
behavoral fnance.
Jel Classfcaton: C18, F30, M20
Keywords: Islamc Economcs and Fnance Studes, Internatonal Journal of Islamc Economcs and Fnance
Studes (IJISEF), Bblometrc, VOSvewer.
Öz
Günümüz küresel ekonomsnde İslam fnans ve ekonom gderek daha fazla önem kazanmakta ve
Uluslararası İslam Ekonoms ve Fnansı Çalışmaları Dergs (IJISEF) bu alanda öneml br derg olarak
ortaya çıkmaktadır. Poltk Ekonomk ve Sosyal Araştırmalar Merkez (PESA) tarafından İslam Ekonoms
ve Fnansı Araştırma Merkez (RECISEF) şbrlğyle 2015 yılında kurulan IJISEF, İslam fnans ve ekonom
alanındak araştırma tartışmaları çn klt br forum halne gelmştr. IJISEF gb derglern etk ve nüfuzunu
değerlendrmek, akademnn dnamk yapısı göz önüne alındığında çok önemldr. Bu makale, dergnn
katkılarını ve etksn araştırmak çn bblyometrk analz kullanmaktadır. Çalışma, dergnn 2015'tek
kuruluşundan 29 Eylül 2023'e kadar dokuz yıllık br dönem kapsamakta ve VOSvewer, Mcrosoft Excel ve
Python gb statstksel araçlar kullanılarak 173 yayını analz etmektedr. Bu kapsamlı analz, IJISEF'n
gelşmnn ve İslam ekonoms ve fnansı alanında küresel çapta artan etksnn zn sürmektedr.
Bblyometrk çalışma, sayı ve yayın sayısındak dalgalanmalara rağmen dergye yapılan atıflarda öneml br
artış olduğunu ortaya koymaktadır. Dergnn menşe ülkes olan Türkye öne çıkmaya devam etmekle
brlkte, dğer ülkeler de öneml katkılarda bulunmaktadır. Endonezya, Malezya, Njerya, Pakstan, Tunus,
Bangladeş ve Lbya gb ülkeler de bu genşleyen alana aktf olarak katkıda bulunuyor. Çalışma, yayınlanan
sayıların sayısının artırılmasını ve çerğn Türkçe gb dllere çevrlmesn önermektedr. Ayrıca, gelecektek
araştırmalar Sürdürüleblr Kalkınma Hedefler (SKH'ler), krpto para brmler, fntech, blockchan ve
davranışsal fnans gb konulara odaklanmalıdır.
Jel Sınıflandırması: C18, F30, M20
Anahtar Kelmeler: İslam Ekonoms ve Fnansı Çalışmaları, Uluslararası İslam Ekonoms ve Fnansı
Araştırmaları Dergs (IJISEF), Bblyometrk, VOSvewer.
A Thorough Nne-Year Bblometrc Revew of The Internatonal Journal
of Islamc Economcs and Fnance Studes (IJISEF)
Uluslararası İslam Ekonoms ve Fnansı Araştırmaları Dergs'nn (IJISEF) Dokuz Yıllık Bblyometrk İncelemes
Ths s an open access paper dstrbuted under the terms and condtons of the Creatve Commons Attrbuton-NonCommercal 4.0 Internatonal Lcense.
Bu makale en az k hakem tarafından ncelenmştr. Yayın etğ hlaller yazarın sorumluluğundadır.
Ths artcle has been revewed by at least two referees. Volatons of publcaton ethcs are the responsblty of the author(s).
Araştırma & Yayın Etğ/
Research & Publcaton
Ethcs
Atıf/Ctaton Ahmd, A. F., & Alı, S. N. M. (2024). A Thorough Nne-Year Bblometrc Revew of The Internatonal Journal of Islamc Economcs and Fnance
Studes (IJISEF). Internatonal Journal of Islamc Economcs and Fnance Studes, 10(2), 148-172. https://do.org/10.54427/jsef.1441631
İntihal/Plagiarism
Bu makale, iThenticate yazılımı ile taranmış ve
intihal tespit edilmemiştir.
This article has been scanned by iThenticate and
no plagiarism detected.
Almabrok F Ahmd
Dr. Öğr. Üyes,
Karabük Ünverstes
Assst. Prof.,
Karabük Unversty
almabrokahmd@gmal.com
https://orcd.org/0000-0003-1143-6646
Salah Nasreddn Mahjoub Al
Doktora Öğrencs,
Karabük Ünverstes
PHD Canddate,
Karabük Unversty
salahexpress1@gmal.com
https://orcd.org/0000-0002-4881-1780
Gelş Tarh : 23.02.2024
Kabul Tarh: 22.07.2024
Yayın Tarh: 30.09.2024
Makale Türü: Araştırma Makales
Artcle Type : Research Artcle
ISSN: 2149-8407
Clt/Volume: 10
Sayı/Issue : 2
IJISEF
A Thorough Nine-Year Bibliometric Review …
149
International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
Introduction
Islamic economics has significantly evolved as a comprehensive discipline and functional
system over the past fifty years. Islamic banks, notably established since the 1960s, have
played a crucial role in promoting this system, serving millions of people across various
countries. Their influence extends beyond the Muslim community, with both Muslims and
non-Muslims increasingly embracing these institutions. (Özdemir & Selçuk, 2021).
The global Islamic Financial Services Industry (IFSI) has demonstrated remarkable
resilience despite various challenges. According to the IFSB (2023), the industry's value
is projected to grow from USD 3.06 trillion in 2021 to approximately USD 3.25 trillion in
2022. This growth has been paralleled by a substantial increase in academic research,
leading to an expanding body of literature. Notably, there has been a significant rise in
both the quantity and quality of studies in this field.
In addition to the noteworthy accomplishments of Islamic financial institutions, a
substantial body of scholarly literature has emerged in this domain. These studies indicate
Significant growth rates and recent advancements in knowledge. A large number of
publications recognized by globally respected indexes are contributing to this subject. The
first in this series was The Journal of Research in Islamic Economics, established by King
Abdul Aziz University in 1983. It was the first refereed journal in the field of Islamic
Economics and for many years was the only journal cited by Scopus. The Journal of Islamic
Banking and Finance (JIBF) is also one of the Pioneering journals that having begun
publishing in 1984 under the auspices of the International Association of Islamic Banks,
Pakistan. (Shafiq, 2019, p. 3).
The International Journal of Islamic Economics and Finance Studies (IJISEF) was among
the first journals in this discipline to publish articles in both Turkish and English, and it is
indexed in TR Dizin, a comprehensive indexing service for Turkish academic journals
maintained by TÜBİTAK ULAKBİM. TR Dizin was developed to provide electronic access
to national scientific content produced in Turkey, ensuring adherence to international
standards. Since July 2015, IJISEF has been a peer-reviewed journal published in volumes
with three issues each year, released in March, July, and November. However, starting in
2023, the publication schedule was adjusted to two issues annually, now appearing in
March and September. IJISEF is an open-access publication Produced by the Centre of
Political Economic and Social Research (PESA) in collaboration with the Research Centre
for Islamic Economics and Finance (RECISEF).
PESA is a research and think tank organization founded in Sakarya, Turkey, in 2012. It
aims to serve as a bridge between academia and society by conducting research on
national, regional, and international issues. In addition to numerous research projects
focusing on societal challenges, PESA publishes scientific works, including locally and
internationally recognized academic journals and books in its field. It also organizes
congresses, conferences, and meetings. PESA's goal is to contribute to the development of
a social structure based on the principles of peace, equality, justice, and the rule of law
through the knowledge it generates.
RECISEF was established on July 21, 2014, at Sakarya University, focusing on conducting
research and studies in the field of Islamic economics and finance. Its priorities include
research on Both theoretical and practical aspects, investigating historical and
contemporary concepts, analyzing future trends, raising public awareness, producing
interdisciplinary knowledge, and developing application models. RECISEF aims to
operate at local, regional, national, and international levels, collaborate with related
Almabrok F Ahmid & Salah Nasreddin Mahjoub Ali
150
Uluslararası İslam Ekonomisi ve Finansı Araştırmaları Dergisi 10/2 (Eylül 2024)
institutions, and undertake joint projects. The center’s main objective is to train
researchers and experts in Islamic economics and finance, providing them with a strong
theoretical foundation and practical skills to meet the needs of the financial sector.
IJISEF, a peer-reviewed journal dedicated to these topics, is committed to disseminating
rigorous and Contemporary research in these fields. Its primary goal is to publish
theoretical, empirical, and policy-oriented works that contribute to the body of
knowledge by addressing present and future issues from a innovative perspectives,
especially in Islamic banking, instruments, regulations, economics, and finance. IJISEF
aims to advance the study of Islamic economics, Islamic banking, Islamic financial
markets, Islamic management, fiqh muamalat, Islamic insurance (takaful), Islamic
accounting, Islamic business, Islamic wealth management, Islamic financial institutions,
Islamic economic thought, history of Islamic economics, zakat, and waqf through the
publication of original research on these diverse topics.
The paper employs bibliometric analysis of IJISEF to present an overview of the current
state of research on Islamic finance and economics. Identifying patterns in the academic
study of this field is intended to guide and inform future investigations. By determining
which subjects and which nations or regions have drawn the most interest, researchers
will be able to fill in any gaps in the literature and pinpoint important areas for further
research.
Bibliometric analysis is a valuable method for assessing a journal's scientific impact. By
quantifying authorship dynamics, subject trends, and citation patterns, it offers a
statistical perspective on the academic standing of the journal IJISEF. This approach
provides a more accurate evaluation of a journal's impact than anecdotal evidence alone.
Analyzing the conceptual framework of a scientific topic through quantitative
methodologies, as proposed by Hota et al. (2019), is beneficial. This method is often used
to produce in-depth journal summaries, as highlighted by Bar-Ilan (2008). According to
Lezama-Nicolás et al. (2018), bibliometrics can be used to organize, examine, and evaluate
large datasets, which facilitates understanding the past, identifying historical trends, and
offering prospective future directions.
According to Cobo et al. (2011), performance analysis and scientific mapping analysis are
the two primary procedures often included in bibliometrics. The former is concerned with
evaluating scientific activity, whereas the latter seeks to clarify the dynamic and structural
patterns of scientific research. Within bibliometrics, quantity indicators are used to
evaluate output, quality indices are used to assess impact, and structural indicators are
used to examine relationships between different scientific entities (Durieux & Gevenois,
2010).
Many bibliometric studies related to the field of Islamic finance and economics focus on
specific subjects such as literature, topics, theses, and journals. For example, Ur Rehman
and Othman (1994) studied how Bradford’s Law applies to Islamic Economics literature.
Meanwhile, Ridhwan et al. (2013) examined the contributing institutions, article counts,
topic area trends, and author productivity of the Journal of Muamalat and Islamic Finance
Research.
Alfakhri et al. (2018) conducted an extensive examination of references to articles
pertaining to corporate social responsibility between 1970 and 2014. Ahmid and Ondes
(2019) investigated the distinctive characteristics of PhD theses in Islamic Economics and
Finance completed in the UK between 2000 and 2018. Parallel research was conducted
A Thorough Nine-Year Bibliometric Review …
151
International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
by Firmansyah and Faisal (2020) with the aim of assessing the performance of the top five
Indonesian Islamic Economics and Finance journals.
Furthermore, a number of previous studies have conducted bibliometric assessments of
journals. Among these, the studies of (Hassan, Alshater, Mumu, Sarea, & Azad, 2021);
(Özdemir & Selçuk, 2021); (Mubarrok, Ulfi, Sukmana, & Sukoco, 2022); (Mohammad Kabir
Hassan, Alshater, Rashid & Hidayat, 2022); (Yihua, Meng, Farrukh, Raza & Alam, 2023);
(Tumewang, 2023) are notable. The current research focuses on the bibliometric
characteristics of journals that publish papers related to Islamic Business, Islamic
Finance, Islamic Economics, Islamic Accounting, and Islamic Marketing. Table 1 shows
recent relevant bibliometric studies.
Table 1: Recent Relevant Bibliometric Studies
Reference
Journal name
Focus
Period
Sample
Tool
Database
Hassan et al.
(2021)
The Journal
of Islamic Accounting
and Business
Research
Islamic
accounting,
economics,
marketing,
Shariah
governance,
banking and
finance
2010-
2020
287
papers
Rstudio,
VOSviewer
and
Microsoft
Excel
Scopus
Özdemir &
selçuk
(2021)
The
International Journal
of Islamic
and Middle Eastern
Finance
And Management
Islamic
finance and
business
management
2008-
2019
319
papers
VOSviewer
and
Microsoft
Excel
Wos
Mubarrok et
al. (2022)
The Journal of Islamic
Marketing
Marketing
and halal
2010-
2020
454
papers
VOSviewer
Scopus
Mohammad
kabir hassan
et al (2022)
The Journal of Islamic
Marketing
Marketing
and halal
2010-
2020
483
articles
27
reviews
Rstudio,
VOSviewer
and
Microsoft
excel
Scopus
Yihua et al.
(2023)
The International
Journal of
Islamic and Middle
Eastern
Finance and
Management
Islamic
finance and
business
management
2008-
2019
328
papers
VOSviewer
and Rstudio
Google
scholar,
wos and
Scopus
Tumewang,
(2023)
Journal of King
Abdulaziz University:
Islamic Economics
Islamic
economics
and finance
2009-
2022
331
papers
Rstudio,
VOSviewer
and
Microsoft
Excel
Scopus
Source: Created by the author (2024)
The main objective of this study is to determine the most significant contributions to the
literature in IJISEF. This involves identifying the most frequently cited papers, highly cited
authors, and important countries or affiliations. The study provides an evaluation of the
Almabrok F Ahmid & Salah Nasreddin Mahjoub Ali
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Uluslararası İslam Ekonomisi ve Finansı Araştırmaları Dergisi 10/2 (Eylül 2024)
journal's publications over the past nine years. Finally, it offers a conceptual framework
by highlighting key ideas and categorizing them based on several primary study domains
for articles published in IJISEF. The evolution of IJISEF is discussed, and suggestions for
future research studies are provided.
Section 1 introduces the study and reviews the existing literature on bibliometric studies,
emphasizing its unique focus on a journal indexed in TR Dizin. Section 2 outlines the
research methodology and details the data collection process. Section 3 presents and
discusses the findings from the collected data, exploring their implications. Finally,
Section 4 concludes the study and offers recommendations for future research.
1. Methodology
A thorough examination of publications in a specific subject or field is essential for
bibliometric analysis, which takes an objective and quantitative approach. Several
examples of such publications include Chen and Xiao (2016), which addresses the
selection of publication keywords; Albort-Morant and Ribeiro-Soriano (2016), which
investigates the global effects of business incubators; and Baker et al. (2021), who focus
on the Global Finance Journal.
Additionally, the authors of Valenzuela-Fernández et al. (2019) provide a perceptive
examination of topics in the Journal of Business-to-Business Marketing. Furthermore,
Chen et al. (2019) offer insights into collaboration networks, author biographies, and
study themes; and Donthu et al. (2020) investigate issues related to the Journal of
Business Research.
Tague-Sutcliffe (1992) defined the goal of bibliometric analysis as the evaluation of
standardized quantitative research methods in relation to their qualitative classifications.
According to Zhong et al. (2016), bibliometric analyses are considered an essential and
practical tool for assessing academic production in the social sciences. These studies
provide a means of characterizing the dynamics and path of publications, shedding light
on the evolution of science and research over time.
As noted by Martínez-López et al. (2018), applying quantitative methodologies in
bibliometric studies provides a comprehensive description of bibliographic resources.
According to Hota et al. (2019), this approach helps researchers focus on and identify the
intellectual framework of certain fields, journal articles, affiliations, and countries.
Meticulous attention to detail was necessary for both the data collection and analytical
processes employed in this investigation. The research specifically focused on a
predefined time range using bibliometric markers, including authorship trends,
collaboration metrics, citation analysis, and keyword analysis. These elements were
crucial to accurately depicting the intellectual heritage of IJISEF.
The Dergipark platform was used to obtain bibliographic data from IJISEF's official
website. A database was compiled containing author names, abstracts, keywords, and
citations. Since the inaugural issue in 2015, 173 publications have been published in
IJISEF up to 2024. Microsoft Excel, VOSviewer, and Python were utilized to organize and
statistically analyze the gathered data.
The data for VOSviewer was obtained from Google Scholar, as used by Yihua et al. (2023).
Verma and Gustafsson (2020) recommended using Google Scholar as a database to collect
more comprehensive data and avoid bias. In contrast, Mubarrok et al. (2022) did not
recommend it due to various issues with indexing across multiple sources of records, as
A Thorough Nine-Year Bibliometric Review …
153
International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
well as incomplete formal integration in many instances. They noted that extensive
cleanup efforts are necessary, which are often challenging and time-consuming. In this
study, the data were obtained after cleanup, focusing solely on authors and co-authorship,
as well as keywords extracted from the titles.
Content analysis was employed to extract information on titles, author counts, co-
authorship, genders, keywords, subjects, affiliations, languages, citation counts, and
nations from the IJISEF archives.
2. Results and Discussion
2.1. Descriptive Analysis
This section highlights key information about prominent authors, institutions, and
countries, accompanied by an insightful analysis of the journal's publication trends.
With nine papers in its first issue, IJISEF began publishing in the field of Islamic Economics
and Finance in 2015. The inaugural paper, authored by Asutay and Harningtyas (2015),
evaluates the social performance of Islamic banks based on maqasid al-Shari'ah and
Islamic Moral Economy aspirations, using a framework adapted from Abdel Majid Najjar's
concept with eight orientations. Analyzing 13 banks across 6 countries from 2008 to
2012, the content analysis reveals a lack of achievement in maqasid al-Shari'ah, with a
primary focus on self, faith, and rights and stakeholding, and varying orientations across
banks and countries. The industry's orientation is found to lie between faith and rights
and stakeholding. These characteristics are consistent with those of a research paper,
which involves systematic investigation, data collection, analysis, and presentation of
findings.
As shown in Figure 1, IJISEF has been publishing issues per year since 2015, with
exceptions in its inaugural year, 2015, and again in2023. Over the years, there has been a
decrease in the number of papers published per issue. The most notable surges in
publications occurred in 2016, 2017, and 2019, with nearly 25 publications each year.
Over time, there have been fewer articles in each issue on average. However, this decrease
in publication numbers does not necessarily indicate a negative trend; it may reflect an
increase in the journal's quality, particularly since it was recently indexed in TR Dizin in
2022.
Figure 1: Number of Papers Per Issue
Source: Created by the author (2024)
978 8 96668
9
610 58
74 4 4
11 7
8
7
6
5 5
0
5
10
15
20
25
30
2015 2016 2017 2018 2019 2020 2021 2022 2023
The number of publications
Years
Issue 1 Issue 2 Issue 3
Almabrok F Ahmid & Salah Nasreddin Mahjoub Ali
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Uluslararası İslam Ekonomisi ve Finansı Araştırmaları Dergisi 10/2 (Eylül 2024)
It is anticipated that academics specializing in Islamic finance and economics will
increasingly choose to submit their work to IJISEF. As a result, the journal might consider
either increasing the number of issues published annually or including more manuscripts
in each issue. However, these approaches will necessitate a larger pool of qualified
reviewers capable of providing comprehensive evaluations of submitted articles. To
address this need, IJISEF should develop a strategy to attract and recruit previous authors
as reviewers, thereby ensuring a high standard of peer review and maintaining the
journal's quality.
A research paper can be produced by a single author or through the Collaborative efforts
of two or more authors. In the social sciences, co-authorship is less widespread than in
the natural sciences; however, certain research indicates that this trend is increasing
(Henriksen, 2016; Özdemir & Selçuk, 2021). This trend also evident in IJISEF. Figure 2
shows how the average number of authors and the number of co-authored publications
have increased over time.
Figure 2: Trends in Authors Per Paper
Source: Created by the author (2024)
IJISEF publications were categorized into seven groups based on a comprehensive
content analysis of each paper. Figure 3 illustrates the types of publications produced
between 2015 and 2023. This categorization was developed by Özdemir and Selçuk
(2021).
The distribution of publication types from 2015 to 2023 is shown in Figure 3. The most
common type is the research paper, which includes any study report that examines a
framework or model. It should be noted that alternative publication types, which are less
favored than research and conceptual papers, include viewpoints, general reviews, case
studies, literature reviews, and technical papers.
812 11 10 13 13
4
12 7
7
10 10 7
85
9
2
4
3
12
2
2
1
211
2
2
11
0
5
10
15
20
25
30
2015 2016 2017 2018 2019 2020 2021 2022 2023
The number of publications
Years
1 Author 2 Authors 3 Authors 4 Authors 5 Authors
A Thorough Nine-Year Bibliometric Review …
155
International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
Figure 3: Publication’s Type
Source: Created by the author (2024)
Over nine years, 173 papers have been published in the journal from 2015 to 2023. Out
of these, 13 book reviews and 13 translated papers were published; the remaining 147
papers, or the majority, were research articles. The primary focus has been on research
articles.
Figure 3 illustrates that there are fewer review papers compared to other types. As
mentioned by Hassan et al. (2021), there is a need to increase the quantity of review
papers; the current low number of review articles highlights the necessity of expanding
this category to boost reading and citations.
As shown in Figure 4, there is a clear and consistent decline in the total number of articles
published each year. This trend emphasizes the journal's shift towards prioritizing quality
over quantity in the academic field of Islamic economics and finance. The reduction in the
number of articles suggests a more stringent selection process and a commitment to high-
quality research. This approach reflects the journal's dedication to upholding its
reputation and influence, highlighting the growing importance and relevance of Islamic
economics and finance in the broader academic context.
85
17
10 11 12
876
410
2
8 6 1
47
4
2
3
4
1
21
1
1
1
3
1
16
3
1
1
3
1
1
1
1
1
111
0
5
10
15
20
25
30
2015 2016 2017 2018 2019 2020 2021 2022 2023
The number of publications
Years
Research Paper Conceptual Paper General Review Case Study
Literature Review Technical Paper Viewpoint Paper
Almabrok F Ahmid & Salah Nasreddin Mahjoub Ali
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Uluslararası İslam Ekonomisi ve Finansı Araştırmaları Dergisi 10/2 (Eylül 2024)
Figure 4: Issue by The Year
Source: Created by the author (2024)
Figure 5 shows the gender distribution of authors, distinguishing between male and
female contributors. A noteworthy discovery is the disparity in the number of articles
written by female authors. Specifically, 121 publications were written by males alone, 28
by males and females together, and just 23 by females alone. This observation aligns with
the findings of West et al. (2013), which highlight the significant underrepresentation of
women as sole authors in academic publications.
Figure 4: The Distribution of Authors' Gender
Source: Created by the author (2024)
The gender-based study reveals a discrepancy in the contributions made to publications
throughout the specified time period. As seen in Figure 6, men authored 70% of the
papers, while women authored 14%, and men and women together authored 16%.
18
24 25
21
24
19
15 15
12
0
5
10
15
20
25
30
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
The number of publications
Years
121
28 23
0
20
40
60
80
100
120
140
The number of publications
Gender
Male Male/Female Female
A Thorough Nine-Year Bibliometric Review …
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International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
Figure 6: The Authors' Gender Distribution by Percentage
Source: Created by the author (2024)
Although the number of female authors is lower compared to male authors,
approximately 30% of the articles feature female authors. This statistic underscores the
inclusive nature of the journal, attracting contributions from both genders and fostering
a diverse scholarly community.
2.2. Authorship and Collaborations Patterns:
Understanding the collaborative process of research is crucial because it illuminates how
knowledge is co-created across borders and disciplines. This section aims to elucidate
authorship trends within IJISEF by providing insights into the international connections
between countries and institutions. These findings underscore the diversity of
contributors and highlight the global impact of IJISEF's intellectual contributions.
Figure 7: The Most Common Institutions Affiliated with IJISEF
Source: Created by the author (2024)
Figure 7 shows the top eleven universities that are most frequently associated with the
journal. With 46 publications throughout the specified period, Sakarya University stands
70%
16%
14%
Male Male/Female Female
46
10 642222222
0
10
20
30
40
50
The number of publications
Affiliations
Sakarya University lstanbul University
Marmara University Istanbul Sabahattin Zaim University
Ankara YILDIRIM BEYAZIT University
Necmettin Erbakan University Afyon Kocatepe University
Bayero University lstanbul 29 MAYIS University
Manouba University
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out as the primary contributor demonstrating the greatest productivity. Istanbul
University published 10 papers, Marmara University published 6 papers, and Istanbul
Sabahattin Zaim University published 4 research papers.
Figure 8: The Most Common Countries Affiliated With IJISEF
Source: Created by the author (2024)
Figure 8 shows countries with the highest participation in the IJISEF journal. The main
countries are Turkey, Indonesia, Malaysia, Nigeria, Pakistan, Tunisia, Bangladesh, Libya,
and Morocco.
Figure 9: Geographical Distribution for The Countries Most Commonly Affiliated With IJISEF
Source: Created by the author (2024)
Turkey continues to lead in several indices, as seen in Figure 9, with more than 70% of
journal papers authored by Turkish institutions. This highlights Turkey's significant
influence and participation in scholarly publications.
Figure 10 visually represents the collaborative dynamics among prominent authors in
IJISEF, highlighting patterns of co-authorship and the interconnected networks they
establish. This analysis emphasizes the crucial role of collaboration in driving research
progress and facilitating knowledge exchange within the journal. Meanwhile, Figure 11
provides a detailed view of co-authorship link strength.
115
11 8652 2 2 2
0
20
40
60
80
100
120
140
The number of publications
Countries
Indonesia Malaysia Nigeria Pakistan Tunisia Bangladesh Libya Morocco
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Figure 10: Co-Authorship of Top Authors
Source: Created by the author (2024)
Figure 11: Co-Authorship Link Strength
Source: Created by the author (2024)
Table 2 displays the co-authorship relationships among top authors, along with their
respective total link strengths. Interestingly, despite Mehmet Asutay having authored
only three documents, he holds the highest total link strength. In contrast, Şakir Görmuş,
with seven papers to his name, accumulates a total link strength of thirteen. This data
highlights not only the quantitative aspect of their contributions but also the qualitative
impact of their collaborative efforts within the scholarly community. It underscores how
even a smaller number of publications can yield substantial influence through strategic
collaboration and networking.
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Table 2: Co-Authorship of Top Authors with Total Link Strength
Author
Documents
Total link
strength
Görmuş, şakir
7
13
Ülev, salih
6
9
Hasan, zulfikar
6
8
Musari, khairunnisa
5
0
Özdemir, mucahit
4
13
Yardımcıöğlu, fatih
4
6
Cevherli, feyza
4
2
Husaeni, uus ahmad
4
2
Tekdoğan, Elmer faruk
4
2
Aslan, hakan
4
1
Yenice, ali can
4
1
Özdemir, Öznur
4
1
kazancı, fatih
4
0
Asutay, mehmet
3
14
Bektaş, ismail
3
12
Selçuk, mervan
3
12
Sholihin, muhammad
3
6
Ab rahman, asmak
3
5
Genç, abdullah talha
3
5
Ismail, muhammad
3
4
Source: Created by the author (2024)
Mucahit Özdemir possesses 4 documents with a cumulative link strength of 13. In
contrast, Ismail Bektaş and Mervan Selçuk each have 3 documents, totaling 12 in link
strength.
2.3. The Analysis of Citation and Language:
This section analyzes the IJISEF citation patterns, highlighting key papers and authors.
The analysis examines the ways that IJISEF's publications impact the academic
community and evaluates the ways in which they have shaped research on Islamic finance
and economics. According to Tsay (2009), citations are essential for determining a
publication's influence.
Since its first issue, IJISEF has experienced a decline in the number of publications. To
address this, it is necessary to consider increasing both the number of permissible
publications per issue and the annual frequency of issues. This strategic approach should
boost the journal's visibility and citations as long as quality standards are rigorously
maintained. Hassan et al. (2021) observe, as the number of issues increases, so do the
citations. More publications increase the chances of better impact for the journal if the
quality is kept at the required level. Thus, as long as the necessary standards are met, the
increasing quantity of papers will contribute significantly to the journal's influence.
Table 3 shows the most cited articles and authors in the journal. The most widely cited
publication and the first article published in the journal, written in English by Asutay and
Harningtyas (2015), has a total of 214 citations. Asutay, who serves as the editor-in-chief
of this journal, is a prominent figure in the field of Islamic economics and finance. The
second most cited paper by Er and Mutlu (2017), also written in English, developed an
Islamic financial literacy survey and used the results to create an Islamic financial literacy
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index to assess the current literacy status and improve it. Additionally, three separate sub-
indexes were also generated alongside the general index. The study found that the overall
Islamic financial literacy level is 58%.
The author of the third most cited paper is Lamido (2016). This paper introduces an
Islamic approach to development based on the concept of maqasid al-Shari’ah. It
advocates for development that enhances well-being by promoting what is beneficial and
preventing harm. The approach emphasizes the preservation and enhancement of five
essential components: faith, life, intellect, offspring, and wealth. It suggests that maqasid
al-Shari’ah can serve as a framework for formulating development policies and
prioritizing projects, highlighting the importance of faith, spirituality, and moral ethics
alongside material progress for sustainable development. The paper also calls for further
research on maqasid al-Shari'ah within the context of economic development.
The highest cited papers are followed by Migdad (2019), who wrote about Zakat and
analyzed the Malaysian zakat system's performance in collection and distribution
mechanisms from 1991 to 2014/15. It finds advancements in technical management but
suggests a need for more sustainable distribution practices. Additionally, it emphasizes
the importance of creating a database to coordinate aid and avoid duplication among
relief organizations.
This is followed by articles from Alharbi (2016), Musari (2016), Chaouch (2017), Soud
and Sayılır (2017), Pratiwi (2018), Muhammad, Dauda, and Mamman (2018), and Grassa
and Hassan (2015).
This journal features contributions from prominent scholars in the domain of Islamic
economics and finance, such as Mohammad Kabir Hassan and Mehmet Asutay, which
enhances the scientific and academic strength of this journal.
Eleven of the most cited articles were written in English. Articles written in English do not
have Turkish abstracts, while articles written in Turkish have English abstracts, and
recently, even extended abstracts. This linguistic diversity reflects the journal's openness
to an international readership.
Table 3: Top 11 Most-Cited Articles in IJISEF Publications
Title
Name of The Authors
Year
Language
Citation
Developing Maqasid al-Shari’ah Index to
Evaluate Social Performance of Islamic
Banks: A Conceptual and Empirical Attempt
Mehmet Asutay & Astrid
Fionna Harnıngtyas
2015
English
214
Financial Inclusion and Islamic Finance: A
Survey of Islamic Financial Literacy Index
Bünyamin Er & Mesut
Mutlu
2017
English
86
Maqasid al-Shari’ah as a Framework for
Economic Development Theorization
Abdullahi Abubakar
Lamıdo
2016
English
53
Managing Zakat Through Institutions: Case
of Malaysia
Abdalrahman Migdad
2019
English
52
Development of Islamic Finance in Europe
and North America: Opportunities and
Challenges
Ahmad Alharbi
2016
English
42
Economic Sustainability for Islamic
Nanofinance Through Waqf-Sukuk Linkage
Khairunnisa Musari
2016
English
38
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Program (Case Study in Indonesia) Decent
Work and Economic Growth in Indonesia
An Exploratory Study of Tunisian
Customers’ Awareness and Perception of
Islamic Banks
Naoel Chaouch
2017
English
38
Perceptions of Islamic Banking Among
Muslim and Non-Muslim Citizens in
Tanzania
Nahifa Said Soud &
Özlem Sayılır
2017
English
30
Halal Food and Young Muslims’ Purchase
Intention in Indonesia: A Case Study in
Papua Province
Ira Eka Pratıwı
2018
English
29
The Contemporary Islamic Banking System
(Jaiz Bank) in Tackling Financial Exclusion
in Nigeria
Tijjani Muhammad,
Sulaiman Alhajı Dauda &
Dani Mamman
2018
English
29
Islamic Finance in France: Current State,
Challenges and Opportunities
Rihab Grassa & M. Kabir
Hassan
2015
English
26
Source: Created by the author (2024)
Authors have the flexibility to publish their work in both Turkish and English, as noted
earlier. Figure 12 illustrates the linguistic diversity within the journal. Turkish remains
the predominant language, with 90 articles published in Turkish, compared to 83 in
English. This diversity reflects the journal's commitment to accommodating a wide range
of linguistic preferences among its contributors.
Figure 12: The Article's Language
Source: Created by the author (2024)
According to Tumewang (2023), insufficient emphasis may have been placed on Arabic-
language research, which could explain the relatively low number of citations from Arabic
sources in the journal. However, this linguistic uniqueness should be preserved.
Tumewang (2023) proposed the inclusion of English translations of Arabic articles as a
potential solution.
According to Hassanein and Mostafa (2023), future research could involve incorporating
multiple languages, such as Arabic and Malay, in addition to English, to enhance the
applicability of the results.
Since the most cited publications were written in English, the author recommends that
more English-language papers be published. it is recommended that the journal increase
90
83
78
80
82
84
86
88
90
92
Number of Publications
Languages
Turkish English
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International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
the number of English-language papers. Additionally, it is advisable to provide translated
abstracts in both Turkish and English, rather than limiting translations to Turkish-to-
English only. This approach would broaden the journal’s global appeal and could
eventually lead to the publication of two editions—one in Turkish and one in English.
2.4 Trending Subjects and Analysis of Keywords:
This article employs keyword analysis as a methodological approach to delve into new
research avenues within IJISEF. The primary objective is to identify emerging areas of
interest that warrant further exploration and investigation.
Within this context, the section discusses the dynamic nature of research in Islamic
finance and economics. It emphasizes how these fields continually evolve, driven by
ongoing developments in global financial markets, regulatory frameworks, socio-
economic trends, and scholarly insights. By leveraging keyword analysis, the study seeks
to uncover latent themes, trends, and gaps in existing literature, thereby paving the way
for future research directions that are both timely and pertinent to the advancement of
knowledge in Islamic finance and economics.
According to Su and Lee (2010), keyword co-occurrence analysis is useful for determining
the major subjects, subtopics, material, and thematic organization within a certain area of
research. Mostafa (2020) argues that keyword analysis is essential to bibliometric
analysis. Selecting relevant keywords is crucial for finding published research efficiently.
Nowadays, literature searches are conducted online, rather than using more conventional
means. Consequently, relevant published articles are found via academic search engines,
which rely on keywords to understand an author's purpose, as mentioned by Pearce et al.
(2018).
Figure 13 shows the most frequently used keywords in IJISEF. Terms such as "Islamic
finance," "Islamic bank and banking," and "Islamic economics" each appeared 31 times
over the entire period, underscoring their pivotal role as key areas of focus. Given their
importance to the journal's thematic scope, this finding is unsurprising. Phrases like
"Islamic microfinance" were also frequently used, appearing 17 times, while "Zakat" was
mentioned approximately 21 times, highlighting another significant theme of the journal.
Additionally, the term "Poverty" appeared 11 times.
Table 2 illustrates the research focus on terms such as "Interest-free finance," "Sukuk,"
"Islamic law," "Economic development and growth," and "Islamic fintech." These
recurring themes underscore their significance and indicate that the journal will continue
to explore them in depth. The terms "Islamic economics" and "finance" are frequently
mentioned across various publications, indicating sustained interest and ongoing study
in these areas.
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Figure 13: The Seventeen Most Commonly Utilized Keywords in The Publications of IJISEF
Source: Created by the author (2024)
The keyword analysis illuminates the significance of several critical subjects, including
Waqf, Halal, and Takaful insurance. It also underscores the journal's adaptability in
addressing significant issues, particularly themes related to poverty. Table 4 and Figure
13 collectively offer a comprehensive depiction of the evolving landscape within IJISEF,
highlighting key research areas and trends of interest.
This study utilized Python-generated word clouds to enhance the comprehension of
keywords. A word cloud visually represents the frequency of words in a research article,
with more frequent words displayed larger and more prominently, as shown in Figure 14.
Figure 14: Word Cloud of Keywords
Source: Created by the author (2024) by (Python)
This keyword analysis underscores IJISEF's ability to tackle contemporary issues through
its emphasis on Islamic finance and banking-related topics. Simultaneously, it highlights
the enduring importance of foundational subjects such as Islamic economics, zakat,
Islamic microfinance, poverty, interest-free finance, sukuk, Islamic law, and economic
development and growth. Together, the insights from Figures 13, 14, and Table 4 provide
0
5
10
15
20
25
30
35
Occurences
Keywords
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International Journal of Islamic Economics and Finance Studies 10/2 (September 2024)
a nuanced understanding of how the journal adapts to evolving research landscapes and
priorities.
Table 4: The Twenty-Seven Most Frequently Used Keywords in The Publications of IJISEF
Rank
The word
Occurrences
1
Islamic Finance
32
2
Islamic Banks-Banking
31
3
Islamic Economics
30
4
Zakat
21
5
Islamic Microfinance
17
6
Poverty
11
7
Interest-free Finance
8
8
Sukuk
8
9
Islamic Law
8
10
Economic Development and Growth
7
11
Islamic Fintech
7
12
Accounting
6
13
Mudaraba and Mudarabah
6
14
Waqf
6
15
Islamic Insurance-Takaful
5
16
Islamic Financial Institutions
5
17
Helal
5
18
Fiqh
4
19
Islam
4
20
Perception
4
21
Awareness
4
22
Tax
4
23
Maqasid al-Shari'ah
3
24
Muslims
3
25
Bangladesh
3
26
Interest
3
27
Investment
3
Source: Created by the author (2024)
2.5. The Directions of The Future in Research Area:
The majority of earlier research published in IJISEF addressed subjects like Islamic
fintech, Takaful, Halal investment, poverty, interest-free financing, Islamic finance, and
Islamic economics. However, an obvious research gap exists in the current literature.
Despite halal being mentioned five times, there is still a significant gap in the
comprehensive study of the expanding halal industry. This sector includes a wide range
of goods and services such as halal food and beverages, halal cosmetics, halal travel, and
more. Future research should bridge this knowledge gap and explore how the Islamic
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economy engages with emerging global challenges, such as the Sustainable Development
Goals (SDGs).
The SDGs address many complex issues, including promoting gender diversity,
addressing climate change, ending poverty, zero hunger, ensuring quality education,
sustainable cities and communities, clean water and sanitation, clean energy, industry,
innovation, and infrastructure, reducing inequality, responsible consumption and
production, life below water, peace, justice, and strong partnerships for the goals, decent
work and economic growth, and achieving net-zero carbon emissions. Understanding
how these objectives align with or diverge from the fundamental principles of Islamic
economics might yield valuable insights and elevate the academic discussion on the
subject.
IJISEF showcases a wide array of studies, highlighting its comprehensive scope beyond
financial issues alone. Islamic economics encompasses various aspects of human
economic activity, demonstrating the journal's openness to diverse fields of study. For
instance, while Islamic finance, including the emerging Islamic insurance (Takaful)
industry, receives considerable attention, the journal also recognizes emerging topics that
remain underexplored.
Despite widespread studies on cryptocurrencies across various disciplines, the journal
has yet to publish research on this topic from an Islamic perspective. Similarly,
technological innovations like crowdfunding have also not been thoroughly explored in
its pages. Researchers seeking to contribute to these emerging areas benefit from
submitting their work to the journal, which is indexed in TR Dizin.
The rapid evolution of technology, particularly in fintech innovations like blockchain
management and artificial intelligence, presents significant opportunities for Islamic
banking and finance. Blockchain's transparency and traceability hold promise for
enhancing these sectors, making it a pertinent topic for future articles. Additionally,
exploring fintech's impact on financial inclusion, particularly in developing and emerging
markets, could further enrich its scholarly discourse.
Another area ripe for exploration is behavioral finance, a discipline with profound
implications for both public policy and academic discourse. As this field advances, it
presents a compelling avenue for future research contributions to IJISEF.
To sum up, more quantitative study is required to provide factual backing for the current
forms of the Islamic economy, extending beyond regions where the majority population
is Muslim. IJISEF should consider translating articles from English into Turkish or
providing abstracts in Turkish or other languages. This would boost the journal's stature
and promote the dissemination of significant topics to a wider audience.
Conclusion
This bibliometric study provides a comprehensive analysis of the scholarly influence of
IJISEF, shedding light on its role within the discourse of Islamic finance and economics
through the examination of topic trends, collaborative networks, and patterns of citations.
Since its inception in 2015, IJISEF has shifted from publishing three issues per year to two
as of 2023, with a noticeable decline in the volume of articles. The analysis covers 173
papers, with bibliographical data retrieved from Google Scholar database. Tools such as
VOSviewer, Microsoft Excel, and Python were utilized for comprehensive data
examination.
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The research reveals a predominant affiliation of the journal's publications with Turkish
institutions, notably including Sakarya University, Istanbul University, Marmara
University, and Istanbul Sabahattin Zaim University, alongside significant contributions
from countries like Indonesia, Malaysia, Nigeria, Pakistan, Tunisia, Bangladesh, Libya, and
Morocco. The results identify Görmüş, Ş., Ülev, S., and Hasan, Z. as the most relevant
authors associated with the journal, while Asutay, M. stands out in terms of citation
impact. Additionally, the study observes a gender disparity in authorship, with some
papers authored solely by female researchers and others predominantly by male authors.
Citations of IJISEF articles have steadily increased over the years, despite the reduction in
the number of issues published. Turkish is the most common language of publication in
the journal, closely followed by English. However, the majority of citations come from
articles written in English, emphasizing the importance of multilingual contributions in
enhancing global impact. Key topics identified include Islamic finance, banking,
economics, zakat, microfinance, Islamic microfinance, poverty alleviation, and sukuk.
It is recommended that English articles be translated into Turkish and other languages to
broaden the journal's global reach. Furthermore, increasing the number of review papers
is advised, as they can enhance readers' understanding and boost citation rates. The
journal also plans to explore new research areas, particularly the intersection of the
Islamic economy with global challenges such as the Sustainable Development Goals
(SDGs).In addition, there is a call for more comprehensive studies on the expanding Halal
market, covering sectors such as food, cosmetics, and travel. The study also advocates for
in-depth investigations into contemporary topics such as cryptocurrencies, fintech,
blockchain, and behavioral finance, especially in relation to Islamic economics and
finance.
Collaborative research efforts are encouraged to expand the journal's reach and influence.
Increasing the frequency of journal issues annually is seen as pivotal to boosting
readership and citations, provided that quality standards are maintained.
The study acknowledges specific limitations related to data collection using platforms
such as Google Scholar. It highlights concerns about potential inconsistencies in citation
counts and other data due to indexing issues across multiple sources. Moreover,
incomplete formal integration in some cases necessitated extensive data cleanup efforts,
which were both challenging and time-consuming.
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Appendix
Table 5: Keywords from The Title
Term
Occurrences
Relevance
Islam
7
0.72
management
6
0.82
economics
4
0.78
sukuk
3
0.93
evaluation
3
0.62
Islamic country
2
1.10
profit
2
1.10
katılım bankacılığı
2
0.95
zakah
2
0.95
comparative analysis
2
0.85
prospect
2
0.83
attitude
2
0.82
corporate governance
2
0.80
ekonomi ve toplum
2
0.79
interest free banking
2
0.77
risk
2
0.73
maciasid al shariah
2
0.73
nigeria
2
0.72
Islamic perspective
2
0.72
potential
2
0.69
impact
2
0.68
Source: Created by the author (2024)
Figure 15: Overly Visualization of Keywords from The Title
Source: Created by the author (2024)