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INTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN COMMERCE, MANAGEMENT & SOCIAL SCIENCE (IJARCMSS) [ Vol. 9 | No. 2 (III) | April - June, 2026 ]

A Bibliometric Analysis of Behavioral Finance Research: Investor Psychology, Marketing Cues, and Financial Literacy in Stock Market Investment Decisions

Gurpreet Singh & Sukhdev Singh

This study aims to conduct a comprehensive bibliometric study of the literature related to behavioral finance, investor psychology, marketing cues, financial literacy and investment decisions in the stock market based on the literature collected from the Scopus databases from 2009 to 2026. The analysis includes 205 documents across 155 sources, authored by 585 authors (with an average of 3.08 co-authors per document) and performed by bibliometrix (R-package) and the Biblioshiny interface. At 21.91%, the annual growth of the field is significant, especially since 2020, showing an escalation of scholarly attention. The main findings are that the top producing countries are India (n = 211), Indonesia (n = 111) and Malaysia (n = 40) and that the countries with the highest citation impact are Turkey (mean citations per article = 44.5) and Pakistan (mean citations per article = 43.7). There are four nucleus journals in Bradford's Law and Lotka's law shows that 93% of authors had published one paper. Thematic mapping was used to outline 4 research clusters, investment decision and financial literacy are the most central themes, while marketing cues are conspicuously not identified as a separate theme, hence a research gap remains. The study offers a structured profile of the intellectual map and gap analysis in terms of integrated mediation models, marketing cues, and sub-national Indian contexts, which are the motivation for the upcoming empirical study among retail equity investors in Punjab.

Singh, G. & Singh, S. (2026). A Bibliometric Analysis of Behavioral Finance Research: Investor Psychology, Marketing Cues, and Financial Literacy in Stock Market Investment Decisions. International Journal of Advanced Research in Commerce, Management & Social Science, 09(02(III)), 211–222. https://doi.org/10.62823/IJARCMSS/9.2(III).9078
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DOI:

Article DOI: 10.62823/IJARCMSS/9.2(III).9078

DOI URL: https://doi.org/10.62823/IJARCMSS/9.2(III).9078

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