Investor sentiment in the theoretical field of behavioural finance

Investor sentiment is a research area in the theoretical field of behavioural finance that analyses the sentiment of investors and the way it influences stock market activity. Recently, there has been an increase in the number of publications in this area, which indicates its incremental relevance....

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Bibliographic Details
Published in:Economic research - Ekonomska istraživanja 2020-01, Vol.33 (1), p.2101-2119
Main Authors: López-Cabarcos, M. Ángeles, Pérez-Pico, Ada M., Vázquez-Rodríguez, Paula, López-Pérez, M. Luisa
Format: Article
Language:English
Subjects:
Behavior
Behavioral economics
behavioural finance
Bibliographic coupling
bibliometric analysis
Comorbidity
Computer science
Economic theory
Efficient markets
Finance
Investments
Investor behavior
Investor sentiment
Investors
Mathematics
Physics
Securities markets
Stock exchanges
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Summary:Investor sentiment is a research area in the theoretical field of behavioural finance that analyses the sentiment of investors and the way it influences stock market activity. Recently, there has been an increase in the number of publications in this area, which indicates its incremental relevance. To date, there is no consensus on the theoretical structure of behavioural finance nor on the investor sentiment research area. We have used co-citation, bibliographic coupling and co-occurrence analysis to provide an overview of the structure of investor sentiment. Therefore, this study contributes to defining the theoretical structure of investor sentiment by identifying the foundations of the research area and main journals, references, authors, or keywords, which represent the core of knowledge of this research area. The results obtained suggest that investor sentiment is related to efficient market theory and behavioural finance theories. Furthermore, investor sentiment is a relevant research field, especially since 2014. Advances in computer science or theories based on physics or mathematics can help to better define the influence of investor sentiment on stock markets. This study advances research on investor sentiment within the field of behavioural finance, thus showing its relevance.
ISSN:1331-677X
1848-9664
DOI:10.1080/1331677X.2018.1559748