---
title: "Nikkei 225 / TOPIX: research papers using this data"
description: "From Nov 2023 to Oct 2026, 106 archived papers mentioned Nikkei 225 / TOPIX in their title, abstract or keywords (the search of earlier months' full texts is still under way), most of them in Jul 2026 (8)."
url: https://scholar4ai.com/datasets/nikkei-225-topix
markdown_url: https://scholar4ai.com/datasets/nikkei-225-topix.md
license: CC BY-NC 4.0 (https://creativecommons.org/licenses/by-nc/4.0/)
share_text: "From Nov 2023 to Oct 2026, 106 archived papers mentioned Nikkei 225 / TOPIX in their title, abstract or keywords (the search of earlier months' full texts is still under way), most of them in Jul 2026 (8). (as of 2026-11-05)"
data_url: https://scholar4ai.com/data/rankings.json
updated: 2026-11-05T06:02:37+09:00
window: 2026-10-07 to 2026-11-05
source: OpenAlex (CC0)
---

# Nikkei 225 / TOPIX

[Browse dataset profiles](https://scholar4ai.com/datasets/directory/page/5.md)

Benchmark equity indices used as market returns, samples or index-membership designs.

- data category: Stock market indices
- 1 paper in the last 7 days
- Names searched for: Nikkei 225, TOPIX

Most-used data: https://scholar4ai.com/rankings/datasets.md · All Stock market indices datasets: https://scholar4ai.com/datasets/stock-market-indices.md



## Key findings

- From Nov 2023 to Oct 2026, 106 archived papers mentioned Nikkei 225 / TOPIX in their title, abstract or keywords (the search of earlier months' full texts is still under way), most of them in Jul 2026 (8).
- Nikkei 225 / TOPIX was mentioned in 4 papers in the last 30 days (2026-10-07 to 2026-11-05), ranking #79 of the 246 datasets mentioned.
- By journal category: Economics (2) and Finance (2).
- Most of them appeared in Journal of Quantitative Economics (1), Japanese Economic Review (1) and Pacific-Basin Finance Journal (1).
- From 2017 to 2026 (so far), Nikkei 225 / TOPIX was mentioned in 148 papers in the tracked journals, most of them in finance (78), economics (29) and AI (19).
- 33 of them were published in 2025, against 1 in 2017.
- Since 2023, the institutions with the most of these papers were The University of Tokyo (7), Brunel University of London (4) and Kobe University (3).
- The journals publishing most of them were Financial Innovation (15), Computational Economics (10) and International Review of Economics & Finance (6).
- The most-cited of them is “Is Gold a Hedge or a Safe-Haven Asset in the COVID–19 Crisis?” (Economic Modelling, 2020), with 526 citations.
- Papers use Nikkei 225 / TOPIX most often with S&P 500 (92), Euro Stoxx / DAX (52) and Marketization index (Fan Gang) (45); it has 29 partners in the code and data network, in the group around S&P 500, Economic Policy…, Compustat.

## Mentions over 36 months

*Papers mentioning it by publication month, Nov 2023 to Oct 2026 (titles, abstracts and keywords; the full texts of earlier months are still being searched)*

| Trend | Nov 23–Oct 24 | Nov 24–Oct 25 | Nov 25–Oct 26 | 36 months |
|---|---:|---:|---:|---:|
|  | 33 | 31 | 42 | 106 |

## Papers per year

*Papers per publication year and category*

| Category | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 (so far) |
|---|---:|---:|---:|---:|---:|---:|---:|---:|---:|---:|
| [Finance](https://scholar4ai.com/categories/finance.md) | 1 | 3 | 3 | 3 | 3 | 4 | 2 | 18 | 18 | 23 |
| [Economics](https://scholar4ai.com/categories/economics.md) | 0 | 0 | 0 | 5 | 0 | 0 | 3 | 7 | 8 | 6 |
| [AI](https://scholar4ai.com/categories/ai.md) | 0 | 0 | 0 | 4 | 3 | 2 | 2 | 1 | 4 | 3 |
| [Operations Research](https://scholar4ai.com/categories/operations-research.md) | 0 | 0 | 2 | 0 | 0 | 0 | 2 | 2 | 1 | 3 |
| [Statistics](https://scholar4ai.com/categories/statistics.md) | 0 | 0 | 1 | 0 | 2 | 1 | 0 | 3 | 1 | 2 |
| [Management](https://scholar4ai.com/categories/management.md) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| All categories | 1 | 3 | 6 | 12 | 8 | 7 | 9 | 31 | 33 | 38 |

## Where the papers come from

*Journals with the most papers, since 2023*

| # | Journal | Papers |
|---:|---|---:|
| 1 | [Financial Innovation](https://scholar4ai.com/journals/financial-innovation.md) | 15 |
| 2 | [Computational Economics](https://scholar4ai.com/journals/computational-economics.md) | 10 |
| 3 | [International Review of Economics & Finance](https://scholar4ai.com/journals/international-review-of-economics-finance.md) | 6 |
| 4 | [Finance research letters](https://scholar4ai.com/journals/finance-research-letters.md) | 6 |
| 5 | [Asia-Pacific Financial Markets](https://scholar4ai.com/journals/asia-pacific-financial-markets.md) | 5 |
| 6 | [Borsa Istanbul Review](https://scholar4ai.com/journals/borsa-istanbul-review.md) | 5 |
| 7 | [Annals of Operations Research](https://scholar4ai.com/journals/annals-of-operations-research.md) | 4 |
| 8 | [Journal of International Money and Finance](https://scholar4ai.com/journals/journal-of-international-money-and-finance.md) | 4 |
| 9 | [Journal of the Japanese and International Economies](https://scholar4ai.com/journals/journal-of-the-japanese-and-international-economies.md) | 3 |
| 10 | [Expert Systems with Applications](https://scholar4ai.com/journals/expert-systems-with-applications.md) | 3 |

*Institutions with the most papers, since 2023*

| # | Institution | Papers |
|---:|---|---:|
| 1 | [The University of Tokyo](https://scholar4ai.com/institutions/the-university-of-tokyo.md) | 7 |
| 2 | [Brunel University of London](https://scholar4ai.com/institutions/brunel-university-of-london.md) | 4 |
| 3 | Kobe University | 3 |
| 4 | University of Greenwich | 3 |
| 5 | University of Łódź | 3 |
| 6 | [Beihang University](https://scholar4ai.com/institutions/beihang-university.md) | 2 |
| 7 | [China Agricultural University](https://scholar4ai.com/institutions/china-agricultural-university.md) | 2 |
| 8 | [Chinese Academy of Sciences](https://scholar4ai.com/institutions/chinese-academy-of-sciences.md) | 2 |
| 9 | FH Aachen | 2 |
| 10 | Gulf University for Science & Technology | 2 |

*Countries with the most papers, since 2023*

| # | Country | Papers |
|---:|---|---:|
| 1 | United Kingdom | 21 |
| 2 | China | 20 |
| 3 | Japan | 19 |
| 4 | United States | 10 |
| 5 | Spain | 7 |
| 6 | Italy | 7 |
| 7 | Turkey | 7 |
| 8 | France | 5 |
| 9 | Australia | 4 |
| 10 | Germany | 4 |

*Keywords with the most papers, since 2023*

| # | Keyword | Papers |
|---:|---|---:|
| 1 | Nikkei 225 | 14 |
| 2 | [COVID-19 pandemic](https://scholar4ai.com/keywords/covid-19-pandemic.md) | 9 |
| 3 | stock market | 9 |
| 4 | [Russian invasion of Ukraine](https://scholar4ai.com/keywords/russian-invasion-of-ukraine.md) | 7 |
| 5 | stock market volatility | 7 |
| 6 | S&P 500 | 6 |
| 7 | Sharpe ratio | 6 |
| 8 | [geopolitical risk](https://scholar4ai.com/keywords/geopolitical-risk.md) | 6 |
| 9 | international stock markets | 6 |
| 10 | [portfolio optimization](https://scholar4ai.com/keywords/portfolio-optimization.md) | 6 |

## Most-cited papers

*Most-cited papers since 2017*

| # | Citations | Per month | Title | Journal | Published | Authors |
|---:|---:|---:|---|---|---|---|
| 1 | 526 | 6.4 | [Is Gold a Hedge or a Safe-Haven Asset in the COVID–19 Crisis?](https://doi.org/10.1016/j.econmod.2021.105588) | [Economic Modelling](https://scholar4ai.com/journals/economic-modelling.md) | 2020-01-01 | Md Akhtaruzzaman, Sabri Boubaker, Brian M. Lucey et al. |
| 2 | 375 | 7.2 | [Stock market index prediction using deep Transformer model](https://doi.org/10.1016/j.eswa.2022.118128) | [Expert Systems with Applications](https://scholar4ai.com/journals/expert-systems-with-applications.md) | 2022-07-14 | Chaojie Wang, Yuanyuan Chen, Shuqi Zhang et al. |
| 3 | 311 | 4.1 | [COVID-19’s disasters are perilous than Global Financial Crisis: A rumor or fact?](https://doi.org/10.1016/j.frl.2020.101669) | [Finance research letters](https://scholar4ai.com/journals/finance-research-letters.md) | 2020-06-26 | Khurram Shehzad, Liu Xiaoxing, Hayfa Kazouz |
| 4 | 113 | 1.4 | [Effects of economic policy uncertainty shocks on the interdependence between Bitcoin and traditional financial markets](https://doi.org/10.1016/j.qref.2020.02.004) | [The Quarterly Review of Economics and Finance](https://scholar4ai.com/journals/the-quarterly-review-of-economics-and-finance.md) | 2020-02-26 | Roman Matkovskyy, Akanksha Jalan, Michael Dowling |
| 5 | 92 | 4.7 | [Greenwashing and market value of firms: An empirical study](https://doi.org/10.1016/j.ijpe.2025.109606) | [International Journal of Production Economics](https://scholar4ai.com/journals/international-journal-of-production-economics.md) | 2025-03-21 | Mao Xu, Ying Kei Tse, Ruoqi Geng et al. |

## Used together with

Papers use Nikkei 225 / TOPIX most often with S&P 500 (92), Euro Stoxx / DAX (52) and Marketization index (Fan Gang) (45); it has 29 partners in the code and data network, in the group around S&P 500, Economic Policy…, Compustat.

*What papers use Nikkei 225 / TOPIX together with (at least 3 papers; lift 1 = chance)*

| Used with | Type | Papers using both | Lift |
|---|---|---:|---:|
| [S&P 500](https://scholar4ai.com/datasets/s-p-500.md) | Dataset | 92 | 12.9 |
| [Euro Stoxx / DAX](https://scholar4ai.com/datasets/euro-stoxx-dax.md) | Dataset | 52 | 39.8 |
| [Marketization index (Fan Gang)](https://scholar4ai.com/datasets/marketization-index-fan-gang.md) | Dataset | 45 | 21.6 |
| [FTSE indices](https://scholar4ai.com/datasets/ftse-indices.md) | Dataset | 44 | 49.4 |
| [CSI 300 / Shanghai Composite](https://scholar4ai.com/datasets/csi-300-shanghai-composite.md) | Dataset | 34 | 36.4 |
| [Dow Jones Industrial Average](https://scholar4ai.com/datasets/dow-jones-industrial-average.md) | Dataset | 27 | 27.7 |
| [VIX](https://scholar4ai.com/datasets/vix.md) | Dataset | 23 | 7.6 |
| [Economic Policy Uncertainty index](https://scholar4ai.com/datasets/economic-policy-uncertainty-index.md) | Dataset | 22 | 3.0 |
| [WTI crude oil](https://scholar4ai.com/datasets/wti-crude-oil.md) | Dataset | 15 | 7.4 |
| [Twitter / X](https://scholar4ai.com/datasets/twitter-x.md) | Dataset | 14 | 1.0 |
| [Yahoo Finance](https://scholar4ai.com/datasets/yahoo-finance.md) | Dataset | 11 | 17.4 |
| [MSCI indices](https://scholar4ai.com/datasets/msci-indices.md) | Dataset | 10 | 17.7 |

The whole network: https://scholar4ai.com/code/network.md

## Papers

*Papers mentioning Nikkei 225 / TOPIX in the last 30 days, newest first.*

| Date | Title | Journal | Authors | Affiliations |
|---|---|---|---|---|
| 2026-11-02 | [Contemporaneous and Lagged R2 Decomposed Connectedness: Evidence for Stock Market Indices, Thematic ETFs, Bitcoin, Brent Crude Oil and Geopolitical Risks](https://doi.org/10.1007/s40953-026-00540-7) | [Journal of Quantitative Economics](https://scholar4ai.com/journals/journal-of-quantitative-economics.md) | Fekria Belhouichet, Guglielmo Maria Caporale, Luis A. Gil‐Alana | University of Sfax; Faculty of Economics and Management of Sfax; Brunel University of London; … |
| 2026-10-29 | [Interaction-driven macroeconomic fluctuations](https://doi.org/10.1007/s42973-026-00278-0) | [Japanese Economic Review](https://scholar4ai.com/journals/japanese-economic-review.md) | Makoto Nirei | The University of Tokyo |
| 2026-10-27 | [Government bank lending and corporate investment during a crisis: evidence from Japan](https://doi.org/10.1016/j.pacfin.2026.103418) | [Pacific-Basin Finance Journal](https://scholar4ai.com/journals/pacific-basin-finance-journal.md) | Yupeng Lin, Anand Srinivasan, Chang Wang et al. | National University of Singapore; Renmin University of China; Australian National University |
| 2026-10-22 | [To what extent does weather influence stock market dynamics](https://doi.org/10.1016/j.jbef.2026.101271) | [Journal of Behavioral and Experimental Finance](https://scholar4ai.com/journals/journal-of-behavioral-and-experimental-finance.md) | Yiqi Wang, Ting Liu, Shaosong Wang | Macau University of Science and Technology |

## Cite this page

Scholar4AI. (2026). Nikkei 225 / TOPIX. Journal and Conference Research Rankings. Retrieved November 5, 2026, from https://scholar4ai.com/datasets/nikkei-225-topix

```bibtex
@misc{scholar4ai-datasets-nikkei-225-topix,
  author = {{Scholar4AI}},
  title = {Nikkei 225 / TOPIX},
  year = {2026},
  howpublished = {\url{https://scholar4ai.com/datasets/nikkei-225-topix}},
  urldate = {2026-11-05},
  note = {Journal and Conference Research Rankings; data from OpenAlex (CC0); licensed CC BY-NC 4.0}
}
```

License: CC BY-NC 4.0 (https://creativecommons.org/licenses/by-nc/4.0/).