Technology and automation in financial trading: A bibliometric review

IF 6.3 2区 经济学 Q1 BUSINESS, FINANCE
Rosella Carè , Douglas Cumming
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Abstract

In this bibliometric study, the significant transformations in the financial sector brought about by automation and technological advancements from 1984 to 2022 are explored. A total of 863 articles is analyzed, and a consistent upward trajectory in research focused on fast trading technologies and algorithmic strategies is identified. The key findings reveal that the research is grouped into five thematic clusters, ranging from algorithmic trading and machine learning to systemic risks associated with high-frequency trading and the impacts of algorithmic trading on market quality. This study encapsulates the evolving landscape of financial markets, emphasizing emerging trends in cryptocurrencies and machine learning, which will continue to shape future research directions. In conclusion, five macroareas and ten specific future research areas are proposed.

Abstract Image

金融交易中的技术与自动化:文献计量学综述
在这项文献计量学研究中,探讨了从 1984 年到 2022 年自动化和技术进步给金融业带来的重大变革。共分析了 863 篇文章,发现以快速交易技术和算法策略为重点的研究呈持续上升趋势。主要研究结果显示,这些研究分为五个专题组,从算法交易和机器学习到与高频交易相关的系统性风险以及算法交易对市场质量的影响。本研究概括了金融市场不断演变的格局,强调了加密货币和机器学习的新兴趋势,这将继续影响未来的研究方向。最后,提出了五个宏观领域和十个具体的未来研究领域。
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来源期刊
CiteScore
11.20
自引率
9.20%
发文量
240
期刊介绍: Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance
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