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Exploring the Nexus of Capital Market and Investor Behaviour: A Systematic Literature Review

Author

Listed:
  • Gautam Milind Gokhale

    (School of Business, University of Petroleum and Energy Studies, Dehradun 248007, India)

  • Ankur Mittal

    (School of Business, University of Petroleum and Energy Studies, Dehradun 248007, India)

Abstract

This review paper delves into the intricate interplay between capital markets, investor protection, portfolio strategies, and behavioural aspects in investments. The VOSviewer 1.6.19 software is utilised to perform a bibliometric analysis and a exhaustive systematic literature review on a sample of 248 papers published in journals in Web of Science databases. Our comprehensive analysis reveals the emergence of key themes, shedding light on the critical role of behavioural finance in shaping investment choices and outcomes. We explore how investor behaviour often deviates from traditional models of market efficiency and how these deviations impact portfolio construction and investment strategies. Our paper contributes to a deeper comprehension of the complexities that drive investment decisions and helps academics, society, investors, and regulators by providing a structured analysis of literature strands. Builds a basis for better regulation and protection of investors in the capital markets, with relevant information for future studies on investor behaviour.

Suggested Citation

  • Gautam Milind Gokhale & Ankur Mittal, 2024. "Exploring the Nexus of Capital Market and Investor Behaviour: A Systematic Literature Review," International Journal of Economics and Financial Issues, Econjournals, vol. 14(2), pages 65-76, March.
    • Handle: RePEc:eco:journ1:2024-02-8
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Capital Market; Investor Protection; Behavioural Finance; Biases; SLR;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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