The Development of Research on Investor Sentiment in Emerging and Frontier Markets with the Bibliometric Method

Abstract

In line with the development of behavioural finance in developed markets, research on investor sentiment has increased in recent years. The primary purpose of this study is to investigate the development of research on investor sentiment in emerging and frontier markets. This study will help researchers understand the interest of authors and journals in finding appropriate coordinators and future research topics in this research field. Using bibliometric analysis, we assessed 508 documents between 1999 and 2020 located in the Scopus database. The results show that publications on investor sentiment in emerging and frontier markets grew steadily in the 21 st century. “Herding behaviour” is the most prominent research theme in this area. In the following years, return predictability, principal component analysis, investor attention, and economic policy uncertainty with asymmetric effects are the dominant topics that have reshaped research on investor sentiment in emerging and frontier markets.