In recent years, behavioural finance (BF) has shown rapid developments. Much research has been conducted on investors’ sentiment in the energy and financial markets. Investor sentiment indexes can be constructed in various ways, such as utilizing market transaction data and principal component analysis to extract common factors and relevant online information. Global research activity on psychology and investment finance needs to be assessed and analysed to identify research gaps and to prioritize funding and research agendas. To foster development of work into coordinated efforts, it is necessary to understand interesting topics and expand collaborative networks. In our research, we aimed to assess global research patterns in the BF field focusing on publishing outcomes, co-authorships between authors and similar countries and co-occurrences of keywords usage of the Scopus database.

About the author
Hind Dheyaa Abdulrasool completed her PhD recently in the area of Finance. Her research interests are in behaviour finance, corporate finance, and sustainable finance. She is now an Assistant Professor at Department of Business Administration, College of Administration and Economics, University of AL Qadisiyah, Al Diwaniyah, Iraq
About the author
Dr. Rafidah Othman, is a Senior Lecturer in Finance and graduated PhD in Finance. Her research interests are in banking, investment, behavioural finance and corporate finance and sustainable finance. Find out more about Dr Rafidah, from

In this research, we identified a total of 967 BF-related publications were published from different journals from 2009 to 2019. Exploring the developments in the 2009–2019 BF research patterns, efficiency is regularly analysed as evolving management and second topics on capital market efficiency ‘. Among the parameters studied in BF research are the selection of substrates, user-generated content, and the elaboration likelihood model.

The results of the search may not cover all studies related to BF available on Scopus by restricting the search of “* behavioural finance *” in titles and abstracts. It is proposed that to compare future studies performance of several databases, such as Scopus and the Web of Science. 

For the past five years, publication growth has been strong, and it is expected to increase further. We have discovered a huge number of publications and strong international collaborations in countries. (e.g. the United States and China). These institutions may offer incentives to researchers from other countries (e.g. Indonesia and Canada) to expand their research collaborations. We also addressed many fields that are well explored recently, such as price anomalies and noise traders. We also discussed several newly researched areas with BF, such as Sentiment Analysis and Perceived Value which could be potential hot topics for future studies.

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