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Behavioral finance in a hundred keywords
Teresa Corzo1, Ramón Hernán2, Guillermo Pedrosa3
1Icade School of Economics and Business Administration, Universidad Pontificia Comillas, c/Alberto Aguilera 23, 28015, Madrid, Spain.
Heliyon
|September 9, 2024
Summary
This study maps the evolution of keywords in behavioral finance research from 2000-2020. It reveals a dynamic field with experiments playing a key role and identifies two distinct research streams.
Area of Science:
- Behavioral Finance
- Economics
- Psychology
Background:
- Behavioral finance integrates psychology and economics to understand financial decision-making.
- The field has seen significant growth and diversification.
- Understanding keyword evolution is crucial for tracking research trends.
Purpose of the Study:
- To identify and analyze the most frequent keywords in leading behavioral finance journals.
- To map the evolution of these keywords between 2000 and 2020.
- To assess the state-of-the-art, key topics, concept relationships, and emerging issues in the discipline.
Main Methods:
- Keyword analysis of 3876 articles and 15859 keywords from prominent behavioral finance journals.
- Utilizing data mapping and visualization tools to construct a dynamic map of the discipline.
- Longitudinal analysis covering the period from 2000 to 2020.
Main Results:
- The analysis revealed a vibrant and evolving research landscape in behavioral finance.
- Experiments were identified as a central and prominent methodology within the field.
- Two distinct, yet related, research streams within behavioral finance were identified.
Conclusions:
- Behavioral finance is a dynamic field characterized by the prominent use of experimental methods.
- The study provides a comprehensive overview of the field's structure, key concepts, and emerging trends.
- The identified research streams offer insights into the current and future directions of behavioral finance research.
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