A bibliometric analysis on financial engineering studies

Abstract

Due to the availability of innovative financial products and services, financial engineering has expanded to include more practices and engineering techniques (FinTech, InsurTech, and other technologies). Financial engineering (FE) has succeeded through the stock market, financial instruments, and service developments. This study combines qualitative and quantitative approaches with bibliometric analysis to address a vacuum in financial literature. Co-citation, co-occurrence, and bibliographic coupling analysis techniques are used to make inferences about the structure of FE research in finance from January 2007 to December 2022. The study used 347 filtered research articles from the Scopus database and processed through VOS-Viewer and Biblioshiny through “R” to justify study objectives. The relevance of authors, journals, and organizations in a contemporary topic study is recognized using bibliometrics analysis. The study topic analysis revealed that modern portfolio theory acknowledges the importance of FE’s revolutionary products, such as FinTech and InsurTech, as recent advances in risk management techniques. Future research could take a multi-dimensional approach based on the current theme. New research themes emerged from the study, i.e., Financial Engineering and emerging financial markets and risk management, investment and financial crisis, FinTech, and InsurTech innovation, and Option pricing.