A Systematic Literature Review: The Impact of Finfluencers on Retail Investors and Risk Perception

The Financial advisory landscape in India can be seen rapidly changing as the new wave of Emerging investors seem to be attracted towards markets these days. With this rising participation, a new term can be seen popping out, “Finfluencers”, the so-called digital financial influencers. The existing research on this topic substantially covers things like financial literacy, influencers’ credibility and legal issues. We find that these issues are mostly focused on the macro-level, which leads to a significant research gap regarding how short-form content and visual triggers psychologically alter an investor’s risk perception. This paper aims to present a Systematic Literature Review on “The Impact of Finfluencers on Retail Investors and Risk Perception”. The literature for the analysis was retrieved from databases like Scopus and Google Scholar, and screened using keywords like Financial Influencer, Individual Investor, and Investment Decision, etc. This Research is based on the Bibliometric analysis using R-studio and the Biblioshiny web interface, a 306 publications database from Scopus and 35 publications from Google Scholar without filtering other parameters. The analysis generated a conceptual structure, the author’s performance across the globe and thematic mapping. The core 35 papers for the thematic review of the study are being extracted using the PRISMA framework.