Research marking and yield in behavioural finance literature review: observations from bibliometric analysis using R

Purpose This research aims to accompany a systematic literature review employing bibliometric tools to provide an inclusive picture of the literature and identify future research directions. The present study rigorously discovers the PRISMA standards and associations in the existing literature published between 2006 and 2023, on behavioural biases and investment decision-making. Design/methodology/approach We obtained 117 study articles from the Scopus database. Bibliometric analysis was conducted using the package of R Software Version 4.3.2. The application of performance analysis techniques highlighted the remarkable contributors (authors, journals, articles, organisations, and countries) in enriching the literature. In addition, science mapping provided valuable insights into the research domain’s conceptual, social and intellectual structure. Findings This study identified significant articles valuable in the subject domain, including their associated citations, publications, and countries. The thematic mapping analysis offered emerging themes in the articles by systemising author keywords. Similarly, establishing a promising field for future research was heavily dependent on the areas of herding bias, robo-advisors, home bias, illusion of control bias, over confidence bias, and loss aversion bias. Additionally, this research proposed a conceptual model with distinct variables for the upcoming researchers in the realm. Originality/value The speciality of this research lies in recognising the shortcomings in the current literature and presenting beneficial insights for future research undertakings.