BIBLIOMETRIC ANALYSIS WITH VOSVIEWER: A STUDY OF MOMENTUM STRATEGY IN THE STOCK MARKET

Abstract

This study aims to identify trends, gaps, and research opportunities related to momentum strategies in the stock market using bibliometric analysis. The analysis was conducted based on data from international journals indexed by Google Scholar collected through Harzing's Publish or Perish software, with a focus on publications from 2021 to 2025. A total of 100 publications were analyzed using the VOSviewer software to visualize the structure and relevance of keywords in the literature. The results show fluctuations in the number of publications in the last five years, with a downward trend in recent years. The most cited publication is "Momentum Factor and the Momentum Factor" by Ehsani & Linnainmaa (2022). Keyword analysis shows that the terms "investment strategy," "momentum factor," and "trading strategy" are the most frequently emerging concepts and occupy a central position in the research map. This study provides a comprehensive mapping of the current state of momentum strategy research and is an important reference for future studies in the field of capital markets.