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Journal : Journal of Enterprise and Development (JED)

The role of behavioral bias on financial decision making: a systematic literature review and future research agenda Rosyidah, Umu; Pratikto, Heri
Journal of Enterprise and Development (JED) Vol. 4 No. 1 (2022): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v4i1.5102

Abstract

Purpose — This paper aims to analyze current research trends, identify theoretical perspectives, and identify research topics of behavioral bias in financial decision-making in the future.Research method — To perform bibliometric analysis, this article uses a systematic literature review, as well as content analysis. This article uses a total of 51 publications between 2018 and 2022 as the sample for the literature review, directed by PRISMA. The tool used in analyzing bibliometrics is VOSviewer. Meanwhile, content analysis is conducted to build theoretical perspectives and proposed future research agendas.Result — This systematic review explains the number of articles per year, most influential articles, leading journals, leading countries, leading authors, important keywords, and research cluster networks. Besides, this article also discovers seven behavioral biases that can be analyzed to gain a theoretical perspective on behavioral bias. The seven behavioral biases are Heuristic Bias, Self-Attribution Bias, Framing Bias, Herding Bias, Aversion Bias, Disposition Effect, and Overconfidence Bias,. In the scientific mapping analysis, important keywords are obtained, and the author's research cluster network is to discover topics that rarely researched to be offered in future research.Recommendation/significance/contribution — In contrast to previous studies of behavioral bias, which were dominated by survey-based research, this paper provides a different reference by using a systematic literature review method that provides coverage of the main research issues and theoretical arguments about behavioral bias in financial decisions. In addition, this paper offers new ideas about potential research fields by identifying studies in developing countries that are still rarely carried out compared to developed countries.
The role of behavioral bias on financial decision making: a systematic literature review and future research agenda Rosyidah, Umu; Pratikto, Heri
Journal of Enterprise and Development (JED) Vol. 4 No. 1 (2022): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v4i1.5102

Abstract

Purpose — This paper aims to analyze current research trends, identify theoretical perspectives, and identify research topics of behavioral bias in financial decision-making in the future.Research method — To perform bibliometric analysis, this article uses a systematic literature review, as well as content analysis. This article uses a total of 51 publications between 2018 and 2022 as the sample for the literature review, directed by PRISMA. The tool used in analyzing bibliometrics is VOSviewer. Meanwhile, content analysis is conducted to build theoretical perspectives and proposed future research agendas.Result — This systematic review explains the number of articles per year, most influential articles, leading journals, leading countries, leading authors, important keywords, and research cluster networks. Besides, this article also discovers seven behavioral biases that can be analyzed to gain a theoretical perspective on behavioral bias. The seven behavioral biases are Heuristic Bias, Self-Attribution Bias, Framing Bias, Herding Bias, Aversion Bias, Disposition Effect, and Overconfidence Bias,. In the scientific mapping analysis, important keywords are obtained, and the author's research cluster network is to discover topics that rarely researched to be offered in future research.Recommendation/significance/contribution — In contrast to previous studies of behavioral bias, which were dominated by survey-based research, this paper provides a different reference by using a systematic literature review method that provides coverage of the main research issues and theoretical arguments about behavioral bias in financial decisions. In addition, this paper offers new ideas about potential research fields by identifying studies in developing countries that are still rarely carried out compared to developed countries.
Co-Authors A Halim Abdilah, Eka Novianti Abdullah Syakur Novianto Adhy Wicaksono Adi Hermawansyah Adi Sucipto, Adi Afifa, Nurul Hildha Agung Winarno Agus Hermawan Aji Prasetya Wibawa Al Azhar, M. Habib Albar Bari'na, Moch. Yusufa Amin, Muhammad Sirojuddin Amirudin Amry Mahdan Abrari Amry Mahdan Abrari Anam, Hoirul Andi Basuki Andi Basuki, Andi Anis Sya’bania Anita Handayani Anni Yudiastuti Arifah Rahman, Amalia Asep Dana Saputra Bernadeta Wahyu Astri Pratita Brillian Rosy Budi Eko Soetjipto Buyung Adi Dharma Camelia N. C., Inneke Chicha Fahriana Choirul Anam AM Diponegoro Chong , Wan Ni Cindy Pramita Cipto Wardoyo Deddy Ibrahim Rauf Dede Rusmana Dewi ayu sakdiyyah Dewi Diah Fakhriyyah Dewi Nurjannah Djoko, Sunarti Dwi Hernanik, Nova Dwi rahayu Dwi Wulandari Dwivamilu Irianti Putri Dyah Arini R Edi Irawan Elfit Maidah Elok Vilantika Elvira Nur Azizah Ely Rizky Amaliyah Ely Siswanto Eny Yuniati Ery Tri Djatmika RWW Evi Susanti Fahmi Ashari S. Sihaloho Faridatun Nafisah Fatima, Arlindo Do Ceo Fatmasari Endayani Fauji, Diah Ayu Septi Fawwaz, Muhammad Iqbal Filianti Filianti Firdian Tri Cahyo Fitriani Fitriyah Fitriyah Fulgentius Danardana Murwani Gabriella Stefanny Gunartin Gunartin Hamdana, Hamdana Hanif Rani Iswari Hari Wahyono Haya Nur Safa’atin Hendri Gunawan Heny Kusdiyanti, Heny Hong, Yeap Chi Imam Mukhlis Imam Sanusi, Imam Imaniyah, Sari Ayu Indira Oktavianti Ira Wikartika Iva Khoiril Mala Januardi Joko Setiyo Juniar, Wita Ryani Khoiril Mala, Iva Khoiriyah, Siti Nur Kholifah, Leli Khusnia, Rif’atul Kustitik Kustitik Landreas Utama Lie Ludi Wishnu Wardana Lulu Nurul Istanti Luthfi Alif Utama, Muhammad M. Yogi Riyantama Isjoni Madziatul Churiyah Mansoor Abdul Hamid Mantony, Oslida Martha, Jefry Aulia Martin Martin Mazarina Devi Miranda Lukita Sari Moh Yasir Mohamad Bastomi Mohammad Arief Mohammad Arief Muaddab, Hafis Muhadjir Anwar Muhammad Bukhori Dalimunthe Muhammad Irfanul Hakim Zain Muhammad Luthfi Alif Utama Muhammad Nanang Choiruddin Muhammad Sulhan Muntholib Nadila, Salsaufy Brillian Naswan Suharsono Novitasari, Anindita Trinura Nurika Restuningdiah Nurul Falah Hashim Nurul Farida Parawansah, Rosa Indah Prabowo, Andri Eko Pramika, Depi Puji Handayati Punaji Setyosari Purnomo, Irfan Agung Purwanto, Sandi Rachmad Hidayat Rahmi Rahayu, Dita Restu Millaningtyas Reza Aditia Rosmala Dewi Rosmiza Bidin Rr Suci Palasari Saiful Aminudin Alkusuma Putra Santi Widyanigryum Saptaria, Lina Sari, Dewi Wulan Sari, Vina Budiarti Mustika Setyohadi Sholikan Sholikan Sholikhan Sinollah Siti Khoiriyah Siti Salina Mustakim Soenar Soekopitojo Sopia, Sopia Sopiah, Sopiah Sopiah, Sopiah Sudarmiatin Sugiyanto - Sulastri Irbayuni Sulikah Sulikah Sulis Rochayatun Sulistiyani, Sulistiyani Sumiati Sumiati Susilowati, Eni Sutantri Sutrisno Sutrisno Syahrul Munir Syamsul Arifin Syihabudhin Tamimi, Muhizan Titis Shinta Dhewi, Titis Tuatul Mahfud Umami, Nailariza Umatin, Choiru Umi Nandiroh Ummi Ainur Rizqi Umu Rosyidah Vhalery, Rendika Vindi Kusuma Wardani Wahjoedi Wahjoedi Wahyuningtiyas, Nanik Wening Patmi Rahayu Wita Ryani Juniar Yandi, Andri Yashinta Ula Qomarina Yuli Agustina, Yuli