TRENDS IN ISLAMIC STOCK INDEX RESEARCH: A SYSTEMATIC LITERATURE REVIEW AND BIBLIOMETRIC ANALYSIS
DOI:
https://doi.org/10.15575/aksy.v8i2.50742Keywords:
Bibliometric Analysis, Ethical Investment, Islamic Stock Index, Islamic Finance, Sustainable FinanceAbstract
This study aims to conduct a comprehensive literature review and bibliometric analysis to investigate trends, performance, and strategic issues associated with Islamic stock indices. A bibliometric approach combined with a systematic qualitative method was employed. Data were retrieved from the Scopus database covering the period 2010–2024. Out of 295 initial articles, 187 high-quality publications were selected based on specific inclusion criteria. VOSviewer software was utilized for cluster analysis and keyword co-occurrence mapping. The results highlight the prominence of indices such as the Jakarta Islamic Index (JII) and the Dow Jones Islamic Market Index (DJIM) in existing literature. Key research themes focus on return optimization, portfolio diversification, and the resilience of Sharia indices during economic crises, particularly within the Southeast Asian context. This research identifies a significant research gap concerning the integration of Sharia indices into global markets, the direct impact of government regulations, and the contribution of Islamic capital markets to the Sustainable Development Goals (SDGs). The findings provide a strategic roadmap for academics, investors, and policymakers to enhance the competitiveness of Sharia-compliant financial products and offer a foundation for future research in sustainable Islamic finance.
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