Financial analysis in the era of uncertainty: a comprehensive examination

Andreea-Roxana Danci, Ionuț-Adrian Lazar and Gabriela-Mihaela Mureșan ()
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Andreea-Roxana Danci: Babes-Bolyai University
Ionuț-Adrian Lazar: Babes-Bolyai University
Gabriela-Mihaela Mureșan: Babes-Bolyai University

Digital Finance, 2025, vol. 7, issue 4, No 15, 995 pages

Abstract: Abstract Financial analysis is essential for risk assessment, investment decisions, and corporate governance in today's economy. The examination of finances has expanded beyond liquidity and solvency to include green finance, ESG reporting, and non-financial disclosures. This paper employs a bibliometric approach to systematically analyze the evolution of financial analysis research from 1992 to 2024 in a time marked by uncertainty and digitization. Using data from the Web of Science, which focuses on works that have received more than 15 citations, and advanced tools, such as VOSviewer and Python, we examine the field's most impactful papers, institutions, and sources. Also, this study maps co-authorship networks, identifies key research clusters, and highlights emerging trends, such as financial analysis, fraud detection, earnings manipulation, rentability, digitalization of financial products, green finance, and ESG reporting. We show the way from classical financial analysis to a behavioral approach, thus integrating new perspectives on how ESG, digital finance, and ethical reporting reshape contemporary financial research. Our findings can be helpful for policymakers, including researchers, organizations, managers, and investors, to manage the architecture of financial risk in their activities.

Keywords: Digitalization; ESG; Financial analysis; Green finance; WOS (search for similar items in EconPapers)
JEL-codes: L20 M21 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s42521-025-00136-5

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