Abstract
Foreign portfolio investments have been at the center of research in the finance, economics, and international business domains since the early 1990s when developing economies started to relax their capital account and allowed the entry of foreign investments. Over the years, various macroeconomic (country-specific and global), firm-specific, and quality factors have been studied as determinants in relation to these flows, Still, there is no consensus regarding which factor influences more than the others. This paper uses bibliometric analysis to understand the existing literature to build a solid conceptual base in this research topic. For this study, bibliometric data of 731 articles and reviews from 1991-2022 were extracted from the Scopus database, and bibliometric procedures were applied. First, performance analysis is conducted on the basis of chronological and spatial distribution, influential documents, journal productivity, and eminent authors. Second, scientific mapping on co-citation and keyword occurrence with VOSviewer is done, followed by the thematic content analysis. The study concludes with a discussion on the outcomes of the applied procedures and sheds light on the future scope of research.
Date Received
October 1, 2025
Date Revised
November 17, 2025
Date Accepted
December 24, 2025
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Recommended Citation
Sapra, Ritu; Yadav, Dixit; Upreti, Kamal; Kumar, Nishant; Jain, Rituraj; and Tiwari, Akhilesh
(2025)
"Research Advances on Foreign Portfolio Investments: A Bibliometric and Thematic Analysis,"
Markets, Globalization & Development Review:
Vol. 10:
No.
3, Article 5.
Available at:
https://digitalcommons.uri.edu/mgdr/vol10/iss3/5
Included in
Business Administration, Management, and Operations Commons, Finance and Financial Management Commons, Geography Commons, International and Area Studies Commons, International Business Commons, Public Affairs, Public Policy and Public Administration Commons
Author Bio
Ritu Sapra is with the Department of Commerce at the Delhi School of Economics, University of Delhi, Delhi, India. Her research interests encompass accounting, finance, and emerging technologies such as Artificial Intelligence, Machine Learning.
Dixit Yadav is with Shri Ram College of Commerce, University of Delhi, Delhi, India. His research interests encompass accounting, finance.
Kamal Upreti is with the Department of Computer Science at Christ University, Delhi NCR Campus, Ghaziabad, India. He has completed a postdoctoral fellowship at the National Taipei University of Business, Taiwan, funded by the Ministry of Education, Government of India (MHRD)
Nishant Kumar is with the School of Business Management at Christ University, India. His work emphasises empirical and quantitative analysis of macro-financial linkages, exploring how policy shifts, investor behaviour and economic shocks shape market outcomes.
Rituraj Jain is with the Department of Information Technology at Marwadi University, Rajkot, Gujarat, India. Renowned for his commitment to interdisciplinary research and education, Mr. Jain has built a strong reputation for excellence in teaching, scholarly research, and innovation.
Akhilesh Tiwari is with the Department of Business and Management at Christ University, Delhi NCR Campus, Ghaziabad, India. His work bridges consumer-attitude frameworks and empirical analyses of marketing phenomena to reveal strategic insights for firms operating in service and emerging-economy contexts.