Published Online:October 2025
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP181025
DOI:10.71329/IUPJARAP/2025.24.4.339-369
Author Name:P Ummuhani and P K Abdussalam
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:339-369
Idiosyncratic volatility (IDVOL), a measure of stock-specific risk, has garnered significant attention from researchers and practitioners alike. This study presents a systematic review of idiosyncratic volatility research using bibliometric analysis, and pinpoints the broad trends in the field. The bibliometric analysis was conducted using 361 articles from the top 50 finance and economics journals that were accessed through the Scopus database for a period of 25 years (1998-2023). Analytical tools such as Biblioshiny with R packages and VOS Viewer were used. The study finds a significant increase in the publication trend. The thematic map throws light on the niche and emerging themes in the field. Coupling analysis reveals four major research streams: behavioral finance and market sentiment; volatility modeling; asset pricing; and emerging markets and institutional frameworks. The study will be beneficial for fund managers for strategic portfolio management.
The fundamental investment concept is that the returns and risks associated with financial instruments should be appropriately aligned. In an unpredictable financial environment, the evaluation of returns and risks poses a significant challenge for investors (Panousi & Papanikolaou, 2012).