Mapping the Research Landscape of Financial Literacy and Investment Decisions: A Bibliometric Review

Abstract

Financial literacy is essential for making smart investment decisions, yet many individuals lack the knowledge needed to manage their finances effectively. This study conducts a bibliometric review of existing literature on financial literacy and investment decision using data sourced from OpenAlex, a comprehensive open-access scholarly database. By analysing published research from academic databases, a systematic bibliometric analysis was performed using Biblioshiny, an R-based tool, to identify key research trends, influential authors, highly cited publications, and thematic research clusters in this domain. This analysis shows that interest in financial literacy and investment decision has grown significantly in recent years. Researchers have explored various factors that impact investment decisions, including behavioural biases, risk perception, and the influence of financial education. The analysis highlights leading journals, co-authorship networks, and keyword co-occurrence patterns, providing valuable insights into the evolution of research in this field. Additionally, sustainability and ethical investing have gained attention, reflecting the shift towards responsible financial decision-making. Through network analysis, we identify the most commonly used keywords and research clusters, helping to understand how the topic has evolved over time. This study contributes to the existing body of knowledge by mapping the intellectual structure of financial literacy research and identifying emerging trends and also provides a foundation for future research and practical solutions to help individuals become more confident and responsible investors.