Mapping the Intellectual Structure and Global Research Trends of Earnings Announcements: A Bibliometric Analysis of Scopus-Indexed Publications (1997–2024)

Abstract

Earnings announcements constitute one of the most important sources of information in capital markets, as they influence investor decision-making and market reactions. Despite the increasing volume of studies on earnings announcements, the intellectual structure, thematic evolution, and emerging research directions within this field have not been comprehensively synthesized. This study aims to map the global scientific landscape of earnings announcement research, identify influential contributors and thematic developments, and highlight potential avenues for future investigation. A bibliometric approach was employed by analyzing 60 Scopus-indexed publications published between 1997 and 2024. Bibliographic data were extracted in Comma-Separated Values (CSV) format and analyzed using the Bibliometrix package in RStudio (Biblioshiny) and VOSviewer to examine publication performance, collaboration networks, citation patterns, and keyword co-occurrence. The findings indicate a steady growth in scientific publications over the study period, reflecting increasing scholarly interest in earnings announcement research. The United States and China emerge as the leading contributors, while Southwestern University of Finance and Economics and Universitas Airlangga are identified as influential research institutions. Keyword co-occurrence analysis reveals that the literature is primarily centered on market efficiency, investment decisions, stock returns, information asymmetry, and financial market conditions. However, the relatively limited number of publications suggests that earnings announcement research remains underexplored, particularly in the context of emerging markets. This study provides a comprehensive bibliometric overview of the field and offers a foundation for future research by identifying knowledge gaps and emerging themes. The findings contribute to the literature by providing valuable insights for academics, practitioners, policymakers, and investors seeking to better understand the development and future direction of earnings announcement research.