The phrase "numerous academic studies" means that there have been many research projects done by scholars and experts to learn more about a particular topic. Full definition
As numerous academic studies have revealed, grade point averages, not standardized test scores are the best predictors of college success. (jonathanpelto.com)
Moreover, this debate has spurred numerous academic studies that claim to identify whether passive outperforms active investing or vice versa. (fastgraphs.com)
Numerous academic studies have shown that an analyst initiating coverage of a stock pushes share prices higher, in part by improving investor recognition of the company and increasing its liquidity. (thewealthadvisor.com)