Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1839526
A systematic review of ordinary people, behavioural financial biases
J.F. Calzadilla
M.J. Bordonado-Bermejo
E. González-Rodrigo
Sažetak
ehavioural Finance and Behavioural Economics are jointly fastgrowing fields of research, which encompass both academicia
and business. Therefore, the purpose of this paper is to study the
biases in decision-making by ordinary investors, also considering
socio-economic variables. We do so by applying systematic review
tools and meta-analysis. In this study, this analysis is conducted
by using tools developed for this purpose, such as EPIReviewer.
We sourced information primarily from WOS-Clarivate, and also
supplement it with the Proquest database. The search provided
890 studies in total, from 2009 to 2019. After cleaning the dataset,
110 publications remained for the analysis. The output of the analysis consisted of summarised tables, frequency and cross-tabulation tables corresponding to the 17 types of biases and 15
socioeconomic variables. Inasmuch as the study was targeted to
discover the type of behavioural biases and constructs that
exhibit the ordinary investor‘s group, it was found that the evidence in the literature was joined with that of the institutional
investors. On the other hand, the socio-economic evidence about
gender, age, studies, and geography in the literature review is
short, limited and partial. The results emerging from this review
provide a first insight into the behavioural finance biases and
socio-economic links of ordinary people based on the most recent
publications. This should inform more extended studies given the
importance of ordinary people as a general reference for
the economy.
Ključne riječi
Behavioural finance; behavioural biases; ordinary investors; systematic review; web of science
Hrčak ID:
301459
URI
Datum izdavanja:
31.12.2021.
Posjeta: 280 *