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The Sustainability of Investing in Cryptocurrencies: A Bibliometric Analysis of Research Trends

Author

Listed:
  • Mohammad Alqudah

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Luis Ferruz

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Emilio Martín

    (Accounting and Finance Department, Faculty of Economics and Business, University of Zaragoza, 50009 Zaragoza, Spain)

  • Hanan Qudah

    (Department of Financial and Administrative Sciences, Ajloun University College, Al-Balqa Applied University, Ajloun 26166, Jordan)

  • Firas Hamdan

    (Accounting and Finance Department, Faculty of Economics, University of Valencia, 46010 Valencia, Spain)

Abstract
This paper explores the state of the art in the cryptocurrency literature, with a special emphasis on the links between financial dimensions and ESG features. The study uses bibliometric analysis to illustrate the history of cryptocurrency publication activity, focusing on the most popular subjects and research trends. Between 2014 and 2021, 1442 papers on cryptocurrencies were published in the Web of Science core collection, the most authoritative database, although only a tiny percentage evaluated ESG factors. One of the most common criticisms of cryptocurrencies is the pollution derived from energy consumption in their mining process and their use for illicit purposes due to the absence of effective regulation. The study allows us to suggest future research directions that may be beneficial in illustrating the environmental effect, studying financial behavior, identifying the long-term sustainability of cryptocurrencies, and evaluating their financial success. This study provides an in-depth examination of current research trends in the field of cryptocurrencies, identifying prospective future research directions.

Suggested Citation

  • Mohammad Alqudah & Luis Ferruz & Emilio Martín & Hanan Qudah & Firas Hamdan, 2023. "The Sustainability of Investing in Cryptocurrencies: A Bibliometric Analysis of Research Trends," IJFS, MDPI, vol. 11(3), pages 1-25, July.
    • Handle: RePEc:gam:jijfss:v:11:y:2023:i:3:p:93-:d:1202235
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    References listed on IDEAS

    as
    1. Fabian Maximilian Johannes Teichmann & Marie-Christin Falker, 2020. "Cryptocurrencies and financial crime: solutions from Liechtenstein," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 24(4), pages 775-788, June.
    2. Elise Alfieri & Radu Burlacu & Geoffroy Enjolras, 2019. "On the nature and financial performance of bitcoin," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 20(2), pages 114-137, March.
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    5. Luca Ferri & Rosanna Spanò & Gianluca Ginesti & Grigorios Theodosopoulos, 2020. "Ascertaining auditors’ intentions to use blockchain technology: evidence from the Big 4 accountancy firms in Italy," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 29(5), pages 1063-1087, November.
    6. Wasiuzzaman, Shaista & Haji Abdul Rahman, Hajah Siti Wardah, 2021. "Performance of gold-backed cryptocurrencies during the COVID-19 crisis," Finance Research Letters, Elsevier, vol. 43(C).
    7. Stavroyiannis, Stavros & Babalos, Vassilios, 2019. "Herding behavior in cryptocurrencies revisited: Novel evidence from a TVP model," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 57-63.
    8. Pedini, Luca & Severini, Sabrina, 2022. "Exploring the hedge, diversifier and safe haven properties of ESG investments: A cross-quantilogram analysis," MPRA Paper 112339, University Library of Munich, Germany.
    9. Waltman, Ludo & van Eck, Nees Jan & Noyons, Ed C.M., 2010. "A unified approach to mapping and clustering of bibliometric networks," Journal of Informetrics, Elsevier, vol. 4(4), pages 629-635.
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    Cited by:

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    2. Hamza Alqudah & Mohammad Al-Qudah & Yazan Abu Huson & Abdalwali Lutfi & Mahmaod Alrawad & Mohammed Amin Almaiah, 2024. "A Decade of Green Economic Literature: An Analysis-Based Bibliometric," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 497-511, May.

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