The Impact Institutional Ownership on the Firms’ Performance: Evidence from Organization of Islamic Cooperation (OIC) Countries

Bibliometric analysis is an efficient technique for carrying out quantitative analysis of academic work to discuss publication patterns in a particular research area by analyzing existing papers. The paper aims to examine the institutional ownership literature to evaluate its development and identify the publication pattern. The author used bibliometric techniques and displays a review that brings together academic work categorized in finance, business, accounting management, etc. All research publications on institutional ownership were found using a specialized search system in the Scopus database. The literature search includes journal articles, conferences, book chapters, reviews, and other materials published between 1953 and 2020. The following keywords were used in the initial search to identify international academic publications in the research topic: “institutional ownership and institutional investment”. The results indicate that starting in 1953, as recorded in Scopus as the first duplication, the number of papers published and cited in the literature about institutional ownership research increased very slowly for the next seven years until 2009. Then there was a significant increase from 2010 to 2020; This result could be due to the fact that institutional investors have recently become an essential factor in many current hot topics such as sustainability, innovation, best corporate governance practices, corporate monitoring, and innovation. The global financial crisis could also be one of the reasons for this upward trend. Authors’ collaboration in this field is powerful, both at the international and national level. Wang J. took first place as the essential authors with the highest number of publications and weight of citations, and Shleifer, A as the highest weight of citations. In terms of country co-authorship, United Kingdom, United States, Australia, Canada, and China are the most impactful countries regarding the number of publications and citations. Lastly, according to cited reference analysis, the most often cited reference are Jensen, M.C., Meckling (1976), Shleifer, A. (2007), and Chen, X., (1988). Journal of financial economics and Journal of cooperate finance stood apart from the other journals regarding both citation and total link strength in the journal co-citation network.