Behavioral Finance in Investment: A Systematic Review

Abstract

Behavioural finance plays an important role in the field of finance. Behavioral finance refers to understanding how human behavior and psychological factors, including human emotions, affect financial decisions. The data used in this research is secondary data, which means data that is not directly provided to data collectors. This type of data comes from literature related to behavioral finance, such as books, journals, scientific articles, and websites. This research uses the systematic literature analysis (SLR) method. This research aims to increase the understanding of the factors that influence financial behavior in decision-making, identify trends regarding the review or study of financial behavior, and predict the type of research to come. It is expected that the findings of this research will provide new knowledge and perspectives on the current field of financial behavior studies. What contributions are needed at this time and may attract other researchers to study financial behavior in investment decision-making.