Evolution and Emerging Trends in Financial Literacy and Investment Behaviour: A Bibliometric Analysis

Abstract

Purpose –The study aims to identify trends in financial literacy and investment behaviour of individuals by synthesising knowledge structures, and also to propose future research directions by reviewing the corpus of literature.

Design/Methodology/Approach – The articles pertinent to the topic were curated from the Scopus and Web of Science databases from 2004 to 2024. A bibliometric analysis was conducted on 582 articles extracted. The study utilised Biblioshiny to analyse the performance and structural mapping of the literature.

Findings – The findings reveal that the themes of financial literacy and behaviour have grown throughout time as an interdisciplinary field. Researchers first concentrated on demographic and socioeconomic variables, but the area eventually expanded to include themes such as behavioural and psychological structures that influence financial activity. This research illustrates the domain's intellectual and social organisation and its conceptual structure. This study provides valuable insights into areas that require further investigation.

Research Limitations/Implications – Only two databases were selected for the study; more could have been included to strengthen the research. The query was also filtered by language, area, and time frame.

Practical Implications – The current study sheds light on the relationships between financial literacy and financial behaviour. It emphasises the most pressing difficulties in the field and points to potential areas for investigation. It informs future scholars about emerging themes, settings, and opportunities for collaboration in this area by showing the domain's social and intellectual structure.

Originality/Value – Previously, a large number of conceptual and empirical investigations were undertaken internationally across economics, finance, business, management, and consumer behaviour. This study contributes significantly by bringing together different literature on the topic, highlighting credible sources, authors, and documents, and investigating the relationship between digital finance, saving behaviour, and retirement planning.