To the best of authors’ knowledge, this study is the first using systematic literature review method in the area of behavioural finance and also the first to examine a combination of four different biases involved in investment decision-making. (2015), "Behavioural biases in investment decision making – a systematic literature review", Qualitative Research in Financial Markets, Vol.
This paper will be useful to researchers, academicians and those working in the area of behavioural finance in understanding the impact of behavioural biases on investment decision-making.
This study has identified 17 different types of biases and also summarized in the form of tables.
The study is based on some of the most recent findings to have a quick overview of the latest work carried out in this area.
The prominence of research is assessed by studying the year of publication, journal of publication, country of study, types of statistical method, citation analysis and content analysis on the literature on behavioural biases.
The present study is based on 117 selected articles published in peer- review journals between 19.It also aims to raise specific questions for future research.We employ systematic literature review (SLR) method in the present study.Our aim is to analyse the impact of cognitive biases on trading behaviour, volatility, market returns and portfolio selection. https://doi.org/10.1108/QRFM-07-2014-0022 Download as . The paper covers a considerable period of time (1980-2013). Such study is less prevalent in the developing country like India. https://doi.org/10.1108/QRFM-04-2017-0028 Download as . RIS Financial management popularly known as the art of wealth management has been the lifeline of the economic system for decades.This paper does not only focus on the basic principles of behavioral finance but also explain some emerging concepts and theories of behavioral finance. (2018), "Do investors exhibit behavioral biases in investment decision making? Several theories and assumptions have been put forward by known scholars to explain the functioning of the finance models.All research tools that have been used by authors related to primary and secondary data have also been included into our table.A new era of understanding of human emotions, behavior and sentiments has been started which was earlier dominated by the study of financial markets.During the last decades, the relation between FDI and economic growth has been extensively discussed in the economic literature.Theories and existing literature provide conflicting results concerning this relationship.