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A review on behavioural finance and investment management

Author Affiliations

  • 1Bhilai Institute of Technology, Durg, CG, India
  • 2Bhilai Institute of Technology, Durg, CG, India

Res. J. Management Sci., Volume 6, Issue (6), Pages 32-34, June,6 (2017)


This paper investigates the background regarding the key objectives of behavioural finance and investment management research and the emergence of these two disciplines over time. The main idea of this paper is to identify some future scope of behavioural finance in correlation to investment strategies and management. The research is based on searching keywords in database in Google Scholar and Emerald on the basis of number of publications and times cited in the respective field to measure the contributions of active researchers. Considering behavioural finance as emerging area of research in relation with investment strategies many researchers are contributing, making it a significant field of study. The papers reviewed are mostly empirical or theoretical in nature with limited number of papers in review category, which are required to assist researchers and professionals. This paper highlights with limited number of literature survey that there is widespread interdisciplinary research and it is possible that a strong collaboration can exist between behavioural finance and traditional investment management. Most of the model used for analysis purpose in the literatures so far reviewed has some limitations to justify every factor and variables. Research related to factors which have association with varying time like time varying aggregate risk is to be analysed. Through the literature survey it is found that there is huge scope of research taking factors like attitude, personality, and perception as variables in the region like South-East Asian Countries.


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