Journal of Economic Surveys最新文献

This paper aims to present a comprehensive review of existing literature that explores the interplay between psychological factors and investors’ financial behavior in the context of significant events. We retrieved data from the Scopus database from 1991 to 2023. We employed content analysis and bibliometric analysis to reveal the publication trends, citation and authorship records, event types, theories, and psychological aspects associated with the studies. The area of study has grown significantly since 2007. The most prominent keywords were “event study,” “herding,” “behavioral finance,” and “Covid-19.” The keyword co-occurrence reveals seven key themes. The efficient market hypothesis is the most cited theory, followed by the prospect theory. Manmade and negative financial events are among the most frequently studied events. Investor sentiment, investor reaction, and herding behavior are the most common psychological aspects. Despite the interest in studying the impact of an external event on investor psychology and investment decisions, no study has carefully explored the intricacies of intellectual progress in this rich body of literature. We measure and assess three decades of research on event-related investors’ behavior published in prominent journals. This would benefit future researchers interested in understanding event-related investors’ sentiments from the lens of behavioral finance.

Over the last decade, the idea of financial well-being (FWB) has attracted multidisciplinary attention. Professional athletes’ FWB is significantly affected by factors such as their age and the global nature of their careers. In this study, we conduct a comprehensive bibliometric analysis and systematic literature review to address the following research questions: (1) How has the research on the financial issues facing professional athletes evolved (in terms of journals, institutions, countries, trending topics, and research streams)? (2) What are the components of financial literacy (FL) that influence the FWB of professional football players (PFPs)? This review is based on preferred reporting items for systematic reviews and meta-analyses. The bibliometric analysis was performed by applying the Biblioshiny (R packages) and VOSviewer on 94 articles retrieved from the Scopus and Web of Science databases. Content analysis was conducted on 22 relevant articles that developed three major themes: (1) FWB, (2) FL, and (3) PFPs. The findings reveal a growing emphasis on FL and its significant influence on the FWB of PFPs, especially during career transitions. It contributes to the practical implications, including providing knowledge for more targeted financial education programs, economic empowerment interventions, and public policies to enhance the FWB of athletes.

Understanding and quantifying household economic risk constitutes a critical research agenda in financial economics. This systematic review evaluates methodological approaches to assess household economic vulnerabilities through both individual and composite indicators. Leveraging longitudinal data from the China Household Finance Survey (CHFS), we develop a tripartite measurement framework encompassing financial fragility, poverty vulnerability, and insolvency risk. Through comprehensive descriptive analysis, we examine the evolving patterns, spatial distribution, and demographic characteristics of economic risks in Chinese households from 2011 to 2023. We find that while households poverty vulnerability has experienced a marked decline, financial fragility, and insolvency risk have shown a concurrent rise. Furthermore, economic risk demonstrates significant group heterogeneity, with rural households, western households, aging households, less educated households, less healthy households and private-sector employed households exhibiting higher vulnerability metrics compared with their counterparties.

This study employed both bibliometric analysis and a comprehensive review of the existing literature to examine 3844 publications in cryptocurrency research, which were collected from the Web of Science Core Collection Database. The study has utilized bibliometric methods to analyze the most productive countries and regions, research institutions, and authors in cryptocurrency research. Cluster analysis of co-citation articles indicates three main themes in cryptocurrency research over the past decade: the efficiency of the cryptocurrency market, innovation, application, and governance of blockchain technology as well as risk management of cryptocurrencies. Keyword co-occurrence analysis reveals three major future research directions regarding cryptocurrency: (1) using machine learning methods to forecast price returns of cryptocurrencies; (2) how to enhance the security, legitimacy, and environmental sustainability of cryptocurrencies; (3) further exploration of the impact of various unexpected events on the risks of cryptocurrencies under global instability. In the section of literature review, two to three representative papers from the five most-cited authors in cryptocurrency research are summarized. Additionally, 28 of the most noteworthy papers, selected based on three different criteria, are presented. These papers cover different periods and research topics, and a brief yet comprehensive overview of these 28 influential papers is provided.

Common-pool resources theory has been pervasively explored through strategic approaches. To this end, non-cooperative and cooperative game theory applications have been developed. Two scholars have dominated the theoretical formulations aiming to find effective solutions for governing the commons—Garret Hardin and Elinor Ostrom. Based on the theoretical and empirical evidence from Hardin, Ostrom, and more recent scholars and theories, this paper aims to provide an excursus on the game theory formalizations supporting the commons theory. This study argues that this process implied a revisitation of commons governance from threat to opportunity. This evidence was also moved from the emergence of new commons and their preservation. This revival led to new solutions and explorations for sustainable development, polycentrism, and resilient governance of common-pool resources. These perspectives can stimulate new research, policies, and strategies benefiting from ecological and development economics research, public management scholarship and practice, regulation, and decision-making.

Artificial intelligence (AI) is rapidly changing the banking and financial system, taking over fundamental operations to improve operational efficiencies and minimize costs. Although scholarly research has focused either on the implications of machine learning (ML) and deep learning algorithms to improve the performance of the banking and financial sectors or on the applications of AI in specific banking or financial operations, insights into the overall growth of AI in the banking and financial sectors but its applications in diverse functional areas of the banking and financial sectors are relatively scarce. This study aims to present a systematic literature review on the current state of knowledge of AI in banking and the financial sector. A systematic review of 157 articles was conducted to identify, select, assess, and synthesize relevant studies on this phenomenon and was analyzed for emerging themes. The thematic analysis revealed several key themes, including AI as an innovation in customer service, AI applications and customer readiness, AI adoption and financial inclusion, AI adoption and regulation, and AI applications and their explainability. It also identified various applications of, and barriers to, AI adoption. Furthermore, the study proposes a research framework and develops propositions that can be tested in future research. Finally, the study provides a future research agenda based on a theory, context, and methodology (TCM) framework and discusses the study's implications.

Over the past decade, demand for medical services has increased, with implications for levels of care. Healthcare organizations have sought to improve their response to the users’ needs and questions making use of chatbots that leverage artificial intelligence (AI), paying little attention to building an empathic relationship that can emotionally match the chatbot's responses to the questions asked (prompts). This article provides a systematic review of the marketing literature on prompts in healthcare and on the empathic responsiveness of chatbots in relation to emotional aspects. In accordance with the guidelines recommended by the PRISMA framework, a five-step review was conducted, starting with a focus group to identify some key terms. Based on scientific articles published in the past five years, key limitations were identified and a series of propositions were theorized. The study identifies benefits and future development of conversation support strategies for more effective and empathetic chatbots in healthcare.